The debtmonster finally had the 341 yesterday! Making you proud!!

[bf2bf]

I am not abandoning it. If it works, it works...

I must've missed the part about the car...
What kind of car are you trying to keep, how much is it worth and how much do you still owe on it?
When did you stop paying on it or are you still current?

[justbroke]

Welcome to the 60-day club DebtMonster.

[backtoschool]

I am really getting tired of all of your negative, condescending, wise-crack and personal attacks on my posts. If you don't have anything positive to say or anything that will benefit others, then just shut the hell up.

There is absolutely nothing negative about OhioFiler's post in my opinion.

He mentioned the brand of your car and some facts. I personally find OhioFiler's posts on this forum extremely helpful.

[debtmonster]

I must've missed the part about the car...
What kind of car are you trying to keep, how much is it worth and how much do you still owe on it?
When did you stop paying on it or are you still current?

I have a 2007 Saturn and 2007 BMW. The BMW hasn't been paid since January and we're now almost in August. I owe $35,000 on the BMW.

The Saturn was current until just before filing BK. I thought I would be able to do a ride-through. After reading the messages on here, I decided to not mess with anything and just stop paying on all of it. I owed about $11,000 on the Saturn. I have almost 80,000 miles on it. I am sure that they will get way less than $4,000 if they try to auction this car off. High mileage cars don't get much at auction.

My choices are limited now. All I can do is sit and wait for 2 more months. That should hopefully put $1600-2000 more in my pocket for savings towards a new car in all that time.

At the very least, I will hopefully get many car offers in the mail right after discharge.

[debtmonster]

There is absolutely nothing negative about OhioFiler's post in my opinion.

He mentioned the brand of your car and some facts. I personally find OhioFiler's posts on this forum extremely helpful.

Funny, his posts don't seem to helping me one bit other than to make my blood pressure go up.

[backtoschool]

I have a 2007 Saturn and 2007 BMW. The BMW hasn't been paid since January and we're now almost in August. I owe $35,000 on the BMW.

The Saturn was current until just before filing BK. I thought I would be able to do a ride-through. After reading the messages on here, I decided to not mess with anything and just stop paying on all of it. I owed about $11,000 on the Saturn. I have almost 80,000 miles on it. I am sure that they will get way less than $4,000 if they try to auction this car off. High mileage cars don't get much at auction.

My choices are limited now. All I can do is sit and wait for 2 more months. That should hopefully put $1600-2000 more in my pocket for savings towards a new car in all that time.

At the very least, I will hopefully get many car offers in the mail right after discharge.

I have been getting a lot of car offers since I filed, (I got 5 offers so far and my 341 is Wednesday, so I am no where near discharge yet).

Of course all of them would be at ridiculous interest rates, but they were out there. I just traded in my saab in january for a hyundai as part of my pre bankruptcy planning, so I don't need a car, but I think you will get offers post discharge. I was never late on a car payment, and paid my 2004 saab off in full before I traded it in, so maybe that is why I am getting offers pre-discharge. Who knows.....

[AngelinaCat]

Congratulations on the successful 341. I posted a similar thought on your other thread.

I am surprised you got into the courthouse with the camera phone. We tried to go in our courthouse carrying our plain non-camera cellphones. Nope. They had to be put back in the car.

We ended up leaving our wallets and everything in the car except the DLs (picture IDs) SS cards, and the copy of our marriage license, which we were told to bring. But the trustee didn't want it--though it turned out we needed it later on.

[mom2three09]

Congrats Debtmonster

Your 341 room was definitely fancier then ours was. We were in the basement of the Federal Building in a small room with a large table where the trustee and his assistant were seated and about 15-20 old wooden chairs for us to sit on.

As for car offers... we're 3 wks post 341 and have not received even one offer in the mail. We were 60 days behind on our 07 Dodge that we surrendered. We had 3 auto loans showing as no lates/paid in full showing on our reports. But still no offers. Thankfully we were able to get something decent to drive before filing.

Good luck to ya

ETA: We were told absolutely NO CELL PHONES would be allowed, so ofcourse we left ours in our van.

[debtmonster]

I have been getting a lot of car offers since I filed, (I got 5 offers so far and my 341 is Wednesday, so I am no where near discharge yet).

Of course all of them would be at ridiculous interest rates, but they were out there. I just traded in my saab in january for a hyundai as part of my pre bankruptcy planning, so I don't need a car, but I think you will get offers post discharge. I was never late on a car payment, and paid my 2004 saab off in full before I traded it in, so maybe that is why I am getting offers pre-discharge. Who knows.....

I have not gotten a single offer for a credit card or car offer. My chances may be slim at financing a car. I am trying to come up with contingency plans in the event they take our cars shortly after discharge if the lawyer can't fight for us to keep them for a great length of time. I'll have to hit up AutoTrader and start low-balling people or try to pay somebody to let me go with them to an auction and take my chances there.

From what I heard, getting a late model, low mileage car is very difficult now. There are too many people there driving up the prices.

[debtmonster]

Congrats Debtmonster

Your 341 room was definitely fancier then ours was. We were in the basement of the Federal Building in a small room with a large table where the trustee and his assistant were seated and about 15-20 old wooden chairs for us to sit on.

As for car offers... we're 3 wks post 341 and have not received even one offer in the mail. We were 60 days behind on our 07 Dodge that we surrendered. We had 3 auto loans showing as no lates/paid in full showing on our reports. But still no offers. Thankfully we were able to get something decent to drive before filing.

Good luck to ya

ETA: We were told absolutely NO CELL PHONES would be allowed, so ofcourse we left ours in our van.

I'm over 7-months past due on my BMW. I moved and never forward my address. My attorney told me not to give it back and to keep driving it... so we did! 7 months x $740/mo. = $5,180 we saved so far by driving it. Hopefully we'll have it another 2 to 5 months longer. That will REALLY drive that bank insane. That thing is depreciating badly every single month. Expensive cars always do.

Can I get a "YEE HAW!!!!"?

[backtoschool]

I have not gotten a single offer for a credit card or car offer. My chances may be slim at financing a car. I am trying to come up with contingency plans in the event they take our cars shortly after discharge if the lawyer can't fight for us to keep them for a great length of time. I'll have to hit up AutoTrader and start low-balling people or try to pay somebody to let me go with them to an auction and take my chances there.

From what I heard, getting a late model, low mileage car is very difficult now. There are too many people there driving up the prices.

So, Redemption 722 is not an option for you to keep the cars? If you went with them that would help you rebuild credit quickly too.

[debtmonster]

So, Redemption 722 is not an option for you to keep the cars? If you went with them that would help you rebuild credit quickly too.

They won't do a Redemption on the Saturn because it has almost 80,000 miles for a 2007. They said the maximum miles allowed is 50,000. The judge won't approve a redemption on the BMW because that's an expensive luxury car. Plus, I would not want to spend 24.99% on a $23,000+ loan. That would be INSANE. So I basically have no redemption option other than hope that the bank will deal with me privately after the fact.

[backtoschool]

They won't do a Redemption on the Saturn because it has almost 80,000 miles for a 2007. They said the maximum miles allowed is 50,000. The judge won't approve a redemption on the BMW because that's an expensive luxury car. Plus, I would not want to spend 24.99% on a $23,000+ loan. That would be INSANE. So I basically have no redemption option other than hope that the bank will deal with me privately after the fact.

I thought Redemption 722 also financed replacement vehicles. At least it said they do in the brochure they mailed me.

[debtmonster]

I thought Redemption 722 also financed replacement vehicles. At least it said they do in the brochure they mailed me.

I did apply for that. I had to send in copies of my 2007 and 2008 taxes and copies of my Schedule C's for both of those years for them to determine how much they will loan me. They also told me that it has to be done with them before your discharge. She said it will take several business days before they give me an answer whether they approve me or not. They want a CarFax of the vehicle and everything.

They told me that if you want to keep your car, you have to go through the court and everything gets processed with your attorney.

If you finance a replacement vehicle, then you don't have to go through the court and can just do private financing.

If they will approve me, I will buy the 2008 $12,000 dollar car up the street that has 7,000 miles on it. What do you think about that?

At least it will help me rebuild my credit.

[BkinTX]

We've been getting car dealership invites for some time now, but since discharge we get like 3 invites a day.