FORD Credit BKr's......

[CPO]

I am (?) reaffirming my auto loan with FORD. I am current (never been late).

I have filed BK7 this week.

I just logged on to the "E-Bill" web access page at Ford Credit. As they have just received my filing, they had implimented a "disclaimer" page where I had to agree that any information I viewed would not be considered an attempt at collection.

Once selected, I was then allowed to view my complete account information.

I have not attempted to pay via "Web Bill Pay" yet as it's due middle of next month.

So, at least FORD appears to have their act together so far.

You can expect this to happen to you also.

I will report back upon my payment attempt.

CPO

[Granny]

Here's my experience with Ford:

I had 4 payments left on my car when I filed. I was running almost 30 days late when I filed and had been for a few months. I never heard a peep out of Ford the entire time I finished paying for the car. My payments were outside of my plan. I called Ford when the last payment was due to request a payoff figure. They tacked on some extra interest but said I should receive my title as soon as the payment posted. I waited but no title. I finally called them about 60 days after the last payment was received and they said I should have the title within 2 weeks. I was a little concerned it about the 2 week period. But I had the title within 2 days.

I'm guessing that if I hadn't called back, they would still be sitting on my title. When you call them after you file, you are transferred to a special dept, but they were VERY workable.

[JollyGG]

Granny the same thing happened to us but with Wells Fargo.

We did a Chapter seven and paid off our car about a month after our discharge. We had to call all over the place and get transfered a million times. Without the call I don't think we ever would have gotten our title. We just got it this week.

I think our loan may have been making it's way between the BK department and back to the general loan departments (since we did reafirm) and that is how we got lost.

Of course, Wells Fargo also keeps verifying that our auto loan was IIB even though we reaffirmed and our credit report should read "pays as agreed - never late" or "paid in full". But I understand Wells Fargo is know for being problematic and doing that. Wish I would have know earlier so I could have put a requirment to report in my reafirmation.

[manglicmot]

cpo, i still have access to the site but am unable to pay on line. I've been mailing in my payments since I filed. I did not reaffirm. They have until tommorow to object, otherwise I'm ridin' thru.

[CPO]

Thanks for all the great info guys. I have been seriously considering NOT proceeding with the reaffirm. I'd love to be able to dump the car if need be. Less pressure.

I only have a year's worth of payments to go anyway. I am/was concerned that FORD may try something stupid with the title once I'm payed off, but that may not be the issue I once believed considering your experiences. Reality is that a reaffirm does provide protection via the BK court, but it appears it's not really needed in virtually all cases. I'd kinda like to have the credit reporting, though......

I have a spotless payment history, so they may say little and leave me to submit payments...

I usually pay via a third party web service called "Web Bill Pay" that operates with my credit union.

I have not made any payments yet since filing as they are not due yet, but my attorney stated (ho hum) and I have read here (the real facts) that its a nice feature since we can prove timely payment submission, and if the payments are not credited in a timely fashion it's FORD's problem.

I'll keep the forum informed....

CPO

[CoCoChanel]

Leased Vehicle through General Motors

Do you think I will have to go through the same thing with General Motors for my leased vehicle. I have two years to go on the agreement and its my only means of transportation for me and my kids and I need that car. What exactly did you do to inform your car dealership about your bankruptcy? Did you call them or did you continue to make payments and when you filed, they received the information and asked you to sign the affirmation agreement. I am new at this and would like to know.

[CPO]

Do you think I will have to go through the same thing with General Motors for my leased vehicle. I have two years to go on the agreement and its my only means of transportation for me and my kids and I need that car. What exactly did you do to inform your car dealership about your bankruptcy? Did you call them or did you continue to make payments and when you filed, they received the information and asked you to sign the affirmation agreement. I am new at this and would like to know.

If you want and really need the vehicle, then keep it insured and the payments current or purchase the vehicle outright.

When you file BK, the holders of your car note will be informed by the court via the creditor matrix provided in your BK petition. You "elect" to reaffirm...your creditors will see this in your documents filed........and normally will send you a reaffirm agreement...

If you file BK7, then you can reaffirm, or do an "unofficial" ride through (which has risks involved...search this site for reaffirmation)...

The new BK law requires reaffirmation or purchase to keep a financed vehicle. Any other option is not protected by the BK court...so your on your own. History has shown us that as long as you maintain your payments then in almost all cases your lender will be happy to collect them and not repo the vehicle.
There is a risk, however small.

And you can't run back to the BK court and complain if they do repo. Unofficial "ride throughs" are not protected by the BK court. So, you pay for two years and they decide to repo, then you "rented" for two years, will not be responsible for any deficiency.......but no car.....

Some states have consumer laws that can protect you in this situation. You will need to research to find out if your state is one of them. Regardless, court is where you would recover the vehicle, if possible.

If you file BK13 then it will be included in your payment plan.

Regardless, you must maintain your payments. If you get behind, only a BK13 will allow you to catch back up after filing....allowing you to keep the vehicle. That assumes it has not been repo'd.

This is all dependent on your particular situation, which you must discuss with a qualified attorney...even if you file pro se......

A couple of free consults will establish where you fit in the puzzle.

This thread is kinda in the middle of the subject matter of the BK process...perhaps you may need to start in the beginning and understand exactly what your getting into.

I recommend the NOLO books....or study this site very carefully.

http://www.amazon.com/How-File-Chapter-7-Bankruptcy/dp/1413306276/ref=pd_bbs_1/104-1412126-6017533?ie=UTF8&s=books&qid=1184888143&sr=1-1

http://www.amazon.com/Chapter-13-Bankruptcy-Repay-Debts/dp/1413305083/ref=pd_sim_b_1_img/104-1412126-6017533?ie=UTF8&qid=1184888143&sr=1-1

CPO