how long does the bank take to pick up a surrender car?

[bkwife]

Hi my husband file for bankruptcy on december 23 08 he had his meeting on Jan 26 09 we had 2 cars that we still owed he surrender 1.The bank that owens this car had a court hearing for relief from the automatic stay on 02/03/09 and on 02/09/09 he got a letter that there was no objections on the relief but to this date no one has come to take the car and 3 days ago he got a letter fron the bank that they wanted to know why the car didnt have insurance and that he needed to send info about the insurance,and the other car he signed a reaffirmation on jan 26 but he doent get statements is that normal? the deadline for objections is on03/27/09 and his worried that the bank not getting the car will effect him ,does anydody think it will? We live in Nevada

[JRScott]

Okay on the car you reaffirmed, even though you've reaffirmed they can't send you a bill until after your discharge, I know sounds screwy but that's the law, however you still need to make timely payments on the car during the bankruptcy, contact them and ask to talk to the bankruptcy dept and see the amount and address to send payments to ensure proper credit.

The other car they could come pick up at any time. I assume it has a contact number. Call them and tell them the insurance was canceled because of the dec bankruptcy filing and that they had received a relief from stay on Feb 3rd and you had expected them to pick up the car by now.

[bkwife]

so its ok to contact the bank yourself?

[StartingOver08]

Yes, just talk with the BK dept.

[bkwife]

they cut my husbands hours and we where thinking an surrendering the second car that we had already reaffirmed before he got his discharge,does anybody know if that will change or delay his discharge date?and if he can actually do it?

[bkwife]

they cut my husbands hours and we where thinking an surrendering the second car that we had already reaffirmed before he got his discharge,does anybody know if that will change or delay his discharge date?and if he can actually do it?

what i meant was surrendering the car before his discharge

[JRScott]

You need to change your reaffirmation to surrender, call your lawyer and they can work you through it. It is possible but it should not delay.

Do not surrender the car without getting the reaffirmation rescinded. Otherwise you'd still owe the deficiency balance. It is not uncommon to have one rescinded, so just tell the lawyer that due to circumstances you need to change that. Keep in mind you would not be allowed to use its expense anymore.

[StartingOver08]

Make sure to do it right away, I believe you have to have this motion to surrender (changing your mind on the reaff) no later than 60 days from the date of the reaffirmation and prior to the discharge. So it must be done and filed with the court by 3/26.

[bkwife]

Im sorry but i have to ask what do you mean that i cant or would not be able to use its expense?

[WorkingItOut]

Im sorry but i have to ask what do you mean that i cant or would not be able to use its expense?

The monthly loan payment would not be allowable on your means test any longer if you surrender the car. It may not change things for you, but if it leaves too much available income, it could hurt your BK.