Do i still pay car note and insurance when filing Chapter 7?

[BG34]

I am in the process of filing Chapter 7 and including my 07 Suziki Forenza (which is Finances thru DriveTime) in the filing. I am a single mom with 2 kids and do not get any child support or state help because they say i make to much $$. So i am constantly trying to juggling my $$ around to make ends meet and to survive. Currently, I am a month and a half behind on my car note but it is due to having to make expensive repairs on the car in order to get around.

My question is:
1)Once i file my Chapter 7, how long does the filing take, so that they don't try to repose the car before or during filinf?
2) Do i still have to make payments on the car?
3) Do i still have to pay the insurance on the until they ask for the car back?

Please give me some input

Thanks

[AngelinaCat]

Hi BG, welcome to the Forum:

Yes, you continue to make your car payment and insurance on the care during the BK. If the lender wishes to repo the car they have to file a Motion with the court to Lift the Automatic Stay so that they can proceed.

Are you going to keep the car, or are you intending to let it go?

[AngelinaCat]

Hello again. I removed your duplicate post in another board. It becomes too confusing when the members try to follow and respond to the same question located in more than one place. For that reason it is against Forum rules to post the same question in more than one board.

Thank you.

[BG34]

Hi BG, welcome to the Forum:

Yes, you continue to make your car payment and insurance on the care during the BK. If the lender wishes to repo the car they have to file a Motion with the court to Lift the Automatic Stay so that they can proceed.

Are you going to keep the car, or are you intending to let it go?

I am letting it go..

[BG34]

Hello again. I removed your duplicate post in another board. It becomes too confusing when the members try to follow and respond to the same question located in more than one place. For that reason it is against Forum rules to post the same question in more than one board.

Thank you.

okay, sorry about that.

[keepmine]

Do you have a plan for transportation post bk?

[BG34]

Do you have a plan for transportation post bk?

Yes, i do.. A few options in place..

[LadyInTheRed]

If you are going to let the car go, you do not need to keep making the payments. Just be prepared for it to be repoed at anytime before you file. After you file and while you are in BK, as AC said, they can only repo if the automatic stay is lifted.

You do need to maintain liability insurance on the car in amounts required by state law until the car is repossessed. I would drop collision and comprehensive. If you aren't keeping the car, those coverages only protect the lender.