When Can Banks Get Back Their Stuff?

[joecon916]

Hi, I just had my 341 meeting yesterday. A representative of the credit union that loaned us money for a car showed up. When TT asked what my intentions are with the vehicle I replied, "I intend to surrender the car." At this point the credit union rep said "thank you" and the rest of the meeting continued. There were no communications between me and the CU rep as to when they want the car back.... So my question is how soon can the CU take back the car? After the 60 days? Will the CU contact me to make arrangements or do I call the CU? My biggest concern is just them sending out a tow truck without my knowledge and just take the car (like a repossession). Any info is much appreciated.

Thanks!

[tcreegan]

Hi joecon,

The credit union will file a motion for relief of stay. If the trustee is OK w/ that, it will be granted and they can send out the tow truck...

...well, they do have to follow CA repossession law.

As to how long before they come after it....couple weeks for the motion, then whatever CA repossession laws say


To avoid the whole repo scenario, call the CU and ask them where to leave the car and keys.

Good luck with this,

Tom in Colo