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when should we buy a new car?

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    #1

    when should we buy a new car?

    well new to us ... and we filed pro se on sept 15th,341 on oct 19th,and have to go back for a 341 on nov 9th after amending 2 schedules.

    we only have 1 vehicle right now and pay $600 per month.
    we thought at first to reaffirm the loan,(well I didn;t ,but my husband is kinda stubborn,but he changed his mind after talking to a snotty women who was handling our reaffirmation papers).

    how long can we not pay our car before they repo it? and when can we buy a car to replace it? we can not be without a vehicle.

    I paid the last payment online thru my bank ,but it was returned yesterday ( and I have yet to mail it to the new address)


    forgot to add: we would be paid cash for the car.
    Last edited by Patch; 10-21-2009, 12:47 PM.
    filed chap 7 pro se 09/15/09
    341 meeting 10/19/09 continued
    2nd 341 meeting 11/09/09 concluded
    discharged : 12/21/09 closed :01/08/10
    Tags: None
    #2
    You can buy the nre cae any time you like.
    Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

    Comment

      #3
      an another question:
      we can't afford to buy a car until the end of november ,dec 1st.
      if we send the reaffirmation signed to the lender,and wait to have a hearing with the judge,can we change our mind there,at the hearing ,and tell the judge we can no longer afford the vehicle payment?(it would buy us some time to get to dec 1st)
      do we then need to file some amendments,or do the judge not signing off the reaffirmation is enough?
      filed chap 7 pro se 09/15/09
      341 meeting 10/19/09 continued
      2nd 341 meeting 11/09/09 concluded
      discharged : 12/21/09 closed :01/08/10

      Comment

        #4
        What are you trying to accomplish by signing a reaffirmation agreement and then hoping the court refuses to accept it? December 1st is 39 days away.


        Originally posted by Patch View Post
        an another question:
        we can't afford to buy a car until the end of november ,dec 1st.
        if we send the reaffirmation signed to the lender,and wait to have a hearing with the judge,can we change our mind there,at the hearing ,and tell the judge we can no longer afford the vehicle payment?(it would buy us some time to get to dec 1st)
        do we then need to file some amendments,or do the judge not signing off the reaffirmation is enough?
        Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

        Comment

          #5
          Originally posted by Patch View Post
          well new to us ... and we filed pro se on sept 15th,341 on oct 19th,and have to go back for a 341 on nov 9th after amending 2 schedules.

          we only have 1 vehicle right now and pay $600 per month.
          we thought at first to reaffirm the loan,(well I didn;t ,but my husband is kinda stubborn,but he changed his mind after talking to a snotty women who was handling our reaffirmation papers).

          how long can we not pay our car before they repo it? and when can we buy a car to replace it? we can not be without a vehicle.

          I paid the last payment online thru my bank ,but it was returned yesterday ( and I have yet to mail it to the new address)


          forgot to add: we would be paid cash for the car.
          I don't understand what you are trying to accomplish by not signing the reaffirmation. Are you just wanting to wait out the repo for several months? Do you have a backup plan in case they repo the car right away? Signing the reaffirmation agreement commits you to the debt.
          You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

          Comment

            #6
            I'd not sign a reaffirmation agreement. You are still covered by the automatic stay against collection activity/repo. The lender would need to file a motion for relief from stay and you'd have 15 days to respond {this from another thread}. That should get you close to the end of Nov.

            Comment

              #7
              Originally posted by keepmine View Post
              I'd not sign a reaffirmation agreement. You are still covered by the automatic stay against collection activity/repo. The lender would need to file a motion for relief from stay and you'd have 15 days to respond {this from another thread}. That should get you close to the end of Nov.
              Exactly. The OP could make arrangements to turn the car in on December 2 and the lender would be happy. Signing a reaffirmation agreement is playing with fire.
              Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

              Comment

                #8
                I agree with Ohiofiler and keepmine. Even if papers are filed immediately to lift the stay and repo the car, you will still have a couple of weeks to reply and that will get you through most of November. I am assuming of course that you have a plan for how you are going to obtain, and exempt another car.
                You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

                Comment

                  #9
                  Originally posted by Patch View Post
                  an another question:
                  we can't afford to buy a car until the end of november ,dec 1st.
                  if we send the reaffirmation signed to the lender,and wait to have a hearing with the judge,can we change our mind there,at the hearing ,and tell the judge we can no longer afford the vehicle payment?(it would buy us some time to get to dec 1st)
                  do we then need to file some amendments,or do the judge not signing off the reaffirmation is enough?
                  If you sign the reaffirmation documents, with the intent only to buy time, you are causing the Court undo trouble on your behalf. This is a fraudulent action and you might be sanctioned if the Judge suspects it. Otherwise, at anytime before your discharge you can change your mind and have the reanimation quashed. 'Hub
                  If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

                  Comment

                    #10
                    I need to buy time to have enough money to get an another car.

                    and no back up plan if the car get repoed before we can buy one.

                    if we don't sign the reaffirmation letter,I now have to amend some papers before my 2nd 341 meeting on nov 9th ?(I have to amend 2 schedules before we got back),and also that would change our monthly expenses ,or can I still leave on it ,the car payment that we were making on the day we filed for BK?

                    we do not plan on buying anything extravagant,maybe $2000 .
                    so even after we filed,we can not buy a vehicle if we do not exempt it?
                    filed chap 7 pro se 09/15/09
                    341 meeting 10/19/09 continued
                    2nd 341 meeting 11/09/09 concluded
                    discharged : 12/21/09 closed :01/08/10

                    Comment

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