I was discharged as of this Tuesday, Yippee!!!! BUT I do have a question.

[debtsucks]

I thought I would be done with all the questions, and may actually be of help to this board after I was discharged, but I guess not quite. Anyways, we scheduled a repo last night for our car with Wells Fargo. I am a little confused as when to drop the insurance. I did a search on here and I was ok with what the responses are, but then I call Wells Fargo this morning to see if they show it in their possession. I ask the girl when do I drop it and she said that there is a loan still out on the car and I am required to keep insurance on the car until it is sold. She said it can be anywhere from 30 days to 6 months depending on when the car is sold. So I really don't know which is the right thing to do where my butt is covered. Also my plates on the car are expired in a state that we no longer live in. We just never bothered to renew them because we knew that we weren't keeping the car and we weren't driving it. So, do I still need to file a form with that state that we no longer have the car? The plates are expired by almost a year.

[keepinitreal]

I ask the girl when do I drop it and she said that there is a loan still out on the car and I am required to keep insurance on the car until it is sold. She said it can be anywhere from 30 days to 6 months depending on when the car is sold. So I really don't know which is the right thing to do where my butt is covered.

I was in this situation, and I kept my car insurance until the day the car sold at auction. Overkill? Maybe, but while the car was in my name I kept the car insured.

[debtsucks]

I am the type of person that has to cover all the bases. I did just got a hold of my lawyers office and they told me to drop the insurance. They told me that I am covered under my chapter 7. That anything that has to do with the car is now theirs. In fact they said that the reason WF told me to keep it insured is to try to get money off my policy to save them money for any damages that may incur while it is on the repo lot. I hope what the lawyer/paralegal said is accurate.

[tcreegan]

Hi debtsucks,

Drop the insurance the minute you hand the car over to them. You are discharged, the car is their problem.

Don't know about Il, but here in Colo expired plates don't require any action if you get rid of the car.

Congrats on your successful BK!

Tom in Colo

[AngelinaCatHub]

Just for peace of mind, keep it insured until the roll back comes. The repo man is prepared to give you a receipt. At the time it is on his flat bed, it is no longer yours. Get a receipt.

[AngelinaCatHub]

BTW, did you get your hamster dance? If not, you deserve one. 'Hub