BK discharged 2 days ago, auto company never responded to redemption offer

[Seeker40]

I filed pro se and on my Statement of Intention I elected to redeem my car and put down what I thought was a reasonable price. I then called the auto loan company and they told me to fax them the offer which I did. 2 weeks went by and then I got an email from them telling me the fax was unreadable and could I either email it or fax it again. I did both.

That was 3 months ago and I never heard another thing from them. 2 days ago my bk was discharged and I'm not sure what to do about my car, will they try now to repo it or what? Anyone have any idea about all this?

[liz417]

Are you current on the payments? If so, they won't (most likely) repossess it. Are you willing to "walk away" from the car, if so, give them a call back and find out what the hold up is. Most likely, they are not in agreement with your "offer", so be prepared.

Good Luck!

[Seeker40]

No, I actually havent made a payment in 3 years, I'm not talking about reaffirming.

In bankruptcy its the right of the debtor to redeem any secured property at market value. So lets say you have a car that you owe $20,000 and its only worth $10,000 you have the right in bankruptcy to pay it off (redeem) for the 10k or whatever amount you and the creditor agree on.

My situation is I filed a Statement of Intention to redeem it and the creditor never filed anything with the court and totally ignored me.

So does anyone know if since my bk is now discharged is all that out the window now or what?

[aces67]

I think that since your BK is discharged it's too late to redeem or reaffirm the car. All that has to be done and signed off on before your discharge.

[OhioFiler]

No, I actually havent made a payment in 3 years, I'm not talking about reaffirming.In bankruptcy its the right of the debtor to redeem any secured property at market value. So lets say you have a car that you owe $20,000 and its only worth $10,000 you have the right in bankruptcy to pay it off (redeem) for the 10k or whatever amount you and the creditor agree on.

My situation is I filed a Statement of Intention to redeem it and the creditor never filed anything with the court and totally ignored me.

So does anyone know if since my bk is now discharged is all that out the window now or what?

Wait until DebtMonster reads this! He'll fire his attorney and hire this poster's attorney!

[broken64]

Did I read this right, you haven't made a payment in 3 years, and you still have the vehicle? Wow, good for you.

[Seeker40]

Yea its the strangest thing. I got about 6 months behind and came into a little money so I called them and asked how much to catch up on the payments. They told me it was past that point and the only way was to pay off the balance, about 20k. I told them I wasnt able to pay that much and that they should come get it. They said it hadnt gone to their repo dept yet and they would contact me when it did. Never heard nothing from them. After a year or so I called them again, they said someone would get back with me, still nothing. I couldnt figure out why they hadnt done anything, then 3 years later, back in March some guy in a tow truck was looking in my garage window at 1AM. Kind of made me mad that they would try to be so sneaky about it after I tried and tried to give it back and I was already planning on filing bk so I thought now would be a good time.

[Chowder]

...back in March some guy in a tow truck was looking in my garage window at 1AM.

OOOhhhhh, he is just aching to be taught a lesson.

[aces67]

Wow I really thought you must have 3 months and not 3 years. That's odd that they've let you keep it this long.

[liz417]

Wait until DebtMonster reads this! He'll fire his attorney and hire this poster's attorney!

LOL!!!! You are soooo right!!

[pookieny]

3 years, wow! You must have fallen into a big crack.

I posted before that my neice's Ford Focus sat in my driveway for almost a year before they finally came and got it. And I don't remember how many months before it ended up in my driveway when she stopped paying. It was all very civil when the repo guy came, actually called me up and set up a time when I could be home.

[NoMoreRed]

I believe that in order for the redemption to be valid the judge on your bankruptcy should have signed/approved an order for redemption. Usually a motion to redeem personal property would be filed with the court. Then there would be a waiting period in which the creditor can object. If there is no objection then that's when the order would have been signed by the judge. Once the judge has signed it then the creditor would have no choice.