Here is my situation. My wife and I are planning to file in the middle of September. I stopped paying on my car in June. I just received a certified letter today that if I don't make the loan current by August 20th, they will repo it. I am already VERY close to not passing the means test, so if they come and get it prior to filing, will this hurt me? I won't technically have that bill to list anymore. Any suggestions or advise here would be great.
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Anyone? There has to be someone else who has run into this. -
Have you consulted with your lawyer if you have one and ran this by him/her? I know I've read of others on here who have kept their cars in their garages until they've filed that were facing reposession (upon the advice of their attorney's) but you're looking at over a month before you file apparently - and unless you have another vehicle to use in its stead... may be hard to do.
any way to move up your filing date?Comment
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How much is your payment?? If it above the IRS allowed guideline it won't make much difference anyway.Comment
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To answer the first question, we need to wait until the middle of September due to a large payment we made to a family member in the beginning of September 09. If we file now, they consider that a preferential payment. As for the payment on the car, it is $445.00 per month. We are so close on the means test, that I don't want this to push us into 13. Thanks for the response.Comment
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At $445 per month, that could easily push you over into a ch 13. Why did you stop payment on the car so early? You need to speak to your attorney, find out what he/she recommends you do. Do you plan on getting another vehicle soon?May 2008 Hired 1st Attorney/Stopped paying CCs
May 21, 2009 Retained 2nd Attorney
May 28th - Filed for Ch 7 (FINALLY!)
9/11/09 - DISCHARGED!!!!
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Our attorney suggested we stop payment, but that was before the preferential payment issue came up. We see our attorney tomorrow, so I guess I will see what he says. Maybe I can hide the car until we file? I was planning on buying another car for cash next month. I really didn't think this would happen so soon. It hasn't even been 90 days...Comment
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