We turned in our cars. I returned my BMW SUV and am now driving a cherokee we had just sitting around as a third car. My husband turned in his diesel truck and purchased a cheap work van. Now we just have to put these cars under our exemptions because they are completely paid for, luclily we have federal here.
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How long before they take the car?
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I disagree, it can happen and has happen. A company doesn't have to let you keep a car, regardless of paying on time or not.
And you don't have to give them a reason to take it.
I know of a few people this has happen to and my attorney has told me of people that this has happen to. So don't think you can't lose your car.
Originally posted by b_girl View PostYes, but it's highly unlikely if you don't give them a reason.
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Again, as stated, it can happen but is unlikely. Not re-affirming and doing a ride through is a risk, but so is re-affirming, especially if you are too upside or your payment is too high for you to safely keep paying. Everyone has to weigh the risk and make up their own mind.Filed BK (Ch. 7) 6/2/08
Discharged!! 9/24/08
Closed..the end! 10/1/08
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Knowledge is the best thing to have. Don't ever go in thinking things won't happen, because they can.
Originally posted by b_girl View PostAgain, as stated, it can happen but is unlikely. Not re-affirming and doing a ride through is a risk, but so is re-affirming, especially if you are too upside or your payment is too high for you to safely keep paying. Everyone has to weigh the risk and make up their own mind.
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I have missed 2 payments on the Benz and plan on calling the bank and asking them where they want me to take it or I will tell them where I am bringing it.
They only called me once and wanted to work something out. It's a Benz and very expensive to maintain enough with the $500.00 oil changes and $1000.00 tires.Chapter 7 07/30/2008
341 09/17/2008
Discharge 11/21/2008
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Originally posted by b_girl View PostAgain, as stated, it can happen but is unlikely. Not re-affirming and doing a ride through is a risk, but so is re-affirming, especially if you are too upside or your payment is too high for you to safely keep paying. Everyone has to weigh the risk and make up their own mind.Not only am I not a lawyer, the California BAR association has sent me numerous letters telling me not to even THINK about going to law school. In fact, the lay advice I provide is not even good. In the end remember, you get what you pay for, and here in BK land were not the best at paying.
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We are upside down on the one we wish to keep. But not a lot. It would cost us more to surrender it and then go and get something that is as reliable and the size we need to fit our family. Since our state won't let us reaffirm our vehicles, we do not have the option. The judge was pretty sure we wouldn't have a problem doing the ride-thru because the bank is going to get more from us continuing to make the payments then they would if they were to repo it. Hopefully that will be the case. Good thing we have a garage to park in so it won't happen with our knowledge.
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I included my car, and my attorney told me to turn it in, and let him know. I turned it in at my local GM dealer 47 days ago, and as of an hour and a half, it's still sitting on their back lot, in the exact same place it's been since the day I turned it in. I wish I'd kept it all this time, but he said since they filed for relief of stay, that I had to turn it in.
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