Waiting to file and losing car-questions

[Dizzy]

We are almost three months behind in our payments of a secured loan in which we used the title of a vehicle. We are also in the process of filing for a loan modification and are waiting to file Ch 7 until we hear from the mortgage company. American General is demanding either their money or the car at this point. I go to bed every night wondering if this will be the night the car is towed out of my carport. Should I voluntarily surrender the car or wait for them to come get it? Once is it repo'd can I take it off my insurance and when the tags are to be renewed in September, does having the car reposessed absolve me of any legal responsibity to renew the tags? Also, can I replace the tires on it that I put on right berfore taking out the loan and replace them with beaters? They don't know what kind of tires it has on it as far as I know.

[Keebler]

Right before we filed we had two vehicles financed and only one was even running at the time. We had stopped making payments on both of them and we worried alot about having our only transportation towed away.

Nothing happened by the time we filed and I used to leave the bankruptcy notice on the dash of the one good vehicle in the hopes that they might think twice about towing it away.

We ended up driving it until right before discharge. The bank was getting crabby because we hadn't turned it in and our attorney even started getting mad at us for waiting so long.

Stalling bought us enough time to save up more than $1,000 and just before discharge we were able to buy a well-used Oldsmobile. I think we turned in the financed vehicle with only a week or two left before discharge.

It was an awfully stressful time and things worked out mostly by luck with a bit of hard work. Every day left us wondering how things would turn out. Thankfully, the banks and courts seemed to move real slow and it gave us time to get another car.

Today we have better cheap vehicles that we bought by saving up and paying cash for. It was a tough process to go through but we thank God every month that we no longer have car payments to worry about.

It is sure a nice feeling to drive a nearly-new reliable vehicle but nobody factors in the stress of making those monthly payments.

Today, I drive a four-year-old used car that I bought for $4,500 and it makes me happy thinking about the money we're able to save. Repairs do come along but they're usually less than our monthly payments used to be and most months don't require ANY repairs! I wish I would have done this sooner.

[debtmonster]

Why are you doing repairs on a 4 year old car? That car should be almost like new still! A 9 to 15 year old car I can understand getting repairs... but a 4 year old one?! I've seen LOTS of 4 year old cars with low miles and look almost like new for under $5,000.

Don't give those cars back! Keep them as long as possible. Let your banks get "crabby" all they want! It's YOUR CAR and your job to drive it and their job to find it.

I had some bill collector from Nevada call me and get all nasty with me on the phone demanding I give my SUV back. I hung up on him after I got tired of arguing with him. I told him I was going bankrupt. I didn't have an attorney at the time, but I did meet with the one I have now. I couldn't tell him about the attorney until I paid the retainer. After I paid the retainer, I called him back and left a voice mail telling him my attorney's name. He never called me back ever again.

DON'T TAKE CRAP from anyone and DON'T BACK DOWN! EVER! Stand your ground with these people. Don't let them bully you in any way. GET TOUGH!

It's now July 29th and I haven't made a payment on my BMW since January 16th!! I STILL HAVE THE CAR and refuse to give it back. What are they gonna do about it? NOTHING!!! Let them get mad all they want. I don't care. My attorney said not to give it back. The people should be thankful that I fully service the cars and do the oil changes. I want the cars, but I don't want repairs, so I take care of them, unlike many people who get their cars repo'd.

Park the car in a back yard or swap cars with a friend. DO ANYTHING YOU CAN to keep transportation until your bankruptcy is discharged. Your attorney will tell you when it's time to give it back. Don't listen to any bank or collection agency. They are not your friends. They are looking what's best for THEIR INTEREST and not YOUR BEST INTEREST, so tell them to GO POUND SAND. Listen to your lawyer. That's what you pay them for.

After seeing how much paperwork there was, I'm glad I didn't go Pro Se. It was worth paying the attorney.

[eddiep]

Dizzy

Just a bit of advice. The loan modification has to be "complete" before you file bk. I am having some problems with my loan mod. Loss mitigation says it is complete, bk dept is saying it is not and that they are not going to honor it! I spoke with my attorney who said he was in court this morning and there was somebody there fighting with their mortgage co over the same issue. Just be careful!