Will I ever get a statement again?

[jb300]

My Chapter 7 was discharged earlier this month. I have a loan for a cargo trailer with approx. 5 years left on the loan, approx 5K left to pay on it.

I continued making my $120. a month payments all through the BK and plan to keep it. It was discharged in the BK. Will I ever get a statement from HSBC again on this? I would like to know where I am on this. There is no online place that I know of I can check it and I have to pay by phone or mail it in.

[Annie4]

It was my understanding that if you're current on payments everything stays the same?

(I'm new, don't listen to me and I'm waiting for replies as well on this one....)

[lrprn]

Call the lender and ask them to reinstate your online access to the account and ability to pay online. All they can do is say 'no'.....which is their right to do for any reason they see fit.

Hopefully your lender will be willing to help you out since their own monthly profits are likely swirling the drain and this provides a reliable way to get your payments faster and post them more cheaply

[jb300]

I never was able to pay this payment online. I had to send it in each month or over the phone with a large fee I think. So I mailed it and they sent me out a statement each month.

[lrprn]

I never was able to pay this payment online. I had to send it in each month or over the phone with a large fee I think. So I mailed it and they sent me out a statement each month.

Then ask the creditor to reinstate whatever process you were using to make the payments before you filed. Again, all they can do is say no....but they might just say yes!

[jb300]

Well this is what I have found out. When I filed for BK, HSBC then sold the Loan for the cargo trailer to another company. Bass & Ass. The payments I have been sending to HSBC have been cashed and credited but had I not called today I would not have known about this.

I then had to call this new company and this is what I found out. I can continue to pay on this trailer, it is called voluntary payments. Because this is what I am doing they can't send out a statement. They gave me the address, to send my payments to, the contact person and told me I will just have to check from tiime to time to see where I am at as far as getting it paid off and then getting the title.

Is there anything I need to be aware of with this scenero? I didn't want to and was not asked to reaffirm. I still want the trailer, I use it for work, but if something would come up down the road this was discharged in the BK and they can come get it then and I can go on with my life.

[StartingOver08]

Are they a JDB? or a CA?

[jb300]

I'm sorry, I don't understand what you are asking me. I am assuming CA is collection agency. All I know is it is Bass & Associates and I am to send payments to Tuscon AZ.

[lrprn]

Bass and Associates, P.C. - there's information about them at http://www.zoominfo.com/Search/Compa...=debt+recovery

Fondly known in the debt collection industry as "Bass and Ass", it's a company based in Tucson AZ that provides "high quality, comprehensive, customized, single-source debt recovery solutions to clients in the credit-granting industries." In other words, they are a high-priced collection "partner" working for credit card companies (their primary clients), banks, and credit unions.

[StartingOver08]

So it sounds like they are a CA (collections agency) AND a JDB (junk debt buyer). If they are buying debt that is in default (BK type debt) I would certainly find out if they have the title to your cargo trailer before sending them more money.

[LuciluS]

Bass & Ass maybe Scumbags, but I bet they know how to circumvent the Laws real well.

Now, since you no longer owe the Original Creditor wonder if your interest rate is the same as it was before you filed BK? Wonder if the # of payments over the life of the loan has changed?

I'm asking this question, because you can read on the Collection Section of this forum where you may have made arrangement to pay a certain % of the total of the Credit Card to let's just say BOA, but BOA sold your debt in the meantime.BOA cashes your check, they are happy! 2 - 3 yrs later, you decided to go buy a car. Rutrow, you've got a serious overdue payment on your Credit Report from a Collection Agency & your thinking Huh??

JB, I think I would be sending this company a letter asking for the Original Application. I think it's called 'Produce the Note'. And request something in writing that your $$ payments are being applied to this Total Amount of Loan at __% interest rate for __ months remaining.

In the meantime, call them back & ask them what the balance of your loan. You can google 'free loan amortization', click on one, input the info & print it.

Now, I know everybody going to jump on me and say they can't do that!
People continue to tell others if you have $5,000 in the bank and you've exempted it, no worries - Hmmm happened to a member and I know it took about 10 days for him to get a Partial Amount back and don't recall how long on the remaining $$ to appear in his account.

Read the Collections Section. Times are tough and CAs & JDBs are hurting too and are not going by the Books. Do you think the Banks, Mortgage Cos. ( I could go on & on) in the US have/are operating 'By the Books/Law? If you answered No, it means you know what is going on in this country.

[OhioFiler]

I'd probably quit paying them. If they threaten to repo the trailer offer them $1,000 for the title. They could not have paid more than a few hundred dollars for the account.

They would probably decide it's not worth repoing anyway.

[jb300]

Interesting... what's everyone elses thoughts on how to deal with this trailer issue? Problem is right now I don't have any extra money that I could use to do a pay off if I could get them to agree to it.

[StartingOver08]

You did not reaffirm the loan at all so it has been discharged in the BK, right?

[jb300]

Yes you are correct. I did not reaffirm and it was discharged in the BK. That is why this Bass & Associates would not send me out a statement because they called it voluntary payments.

I do need this trailer though for work.