Long Story short,
Two years ago, I got a bank loan so I could consolidate all of my debt to one account; I used my used up car as collateral. So I ended getting 7 grand loan.
Fast forward to now: When things got bad and I fell behind on everything, including the loan payments, I considered bankruptcy. Then I REALLY considered bankruptcy when the repo men were looking for my car one Sunday morning this past March. Keep in mind I haven't paid the loan in 4-5 months.
When that happened, I had to save up money for a bankruptcy lawyer, and that took a few weeks. And I don't know if the repo men were just too easy going or had bigger fish to fry, but I managed to successfully hide my car..by parking LITTERALLY a block away from my house. Maybe I got lucky.
So I filed for bankruptcy in early April and my initial plan was, when everything is in the clear in 2-3 months, I can save up money for a new (used) car, and give up my current one by June or July. Then just a day ago the bank filed a motion with the court to get permission to proceed with the repo, barely weeks after I declared for bankruptcy. My lawyer told me that he's never seen such a fast and aggressive move.
So instead of 3 months, I got like mere weeks before the repo men starts looking for my car again, and I may not be so lucky this time around.
My question is this: I'm moving to the big city to live with a buddy of mine. And the apartment won't be under my name. I also pay whatever bills I have via online. If I don't notify the DMV or any government insistutions right away, will that buy me some time? I just to save up till June, THEN I can give up the car.
I know it's inevitable that I'll give up the car. I just need another month.
Two years ago, I got a bank loan so I could consolidate all of my debt to one account; I used my used up car as collateral. So I ended getting 7 grand loan.
Fast forward to now: When things got bad and I fell behind on everything, including the loan payments, I considered bankruptcy. Then I REALLY considered bankruptcy when the repo men were looking for my car one Sunday morning this past March. Keep in mind I haven't paid the loan in 4-5 months.
When that happened, I had to save up money for a bankruptcy lawyer, and that took a few weeks. And I don't know if the repo men were just too easy going or had bigger fish to fry, but I managed to successfully hide my car..by parking LITTERALLY a block away from my house. Maybe I got lucky.
So I filed for bankruptcy in early April and my initial plan was, when everything is in the clear in 2-3 months, I can save up money for a new (used) car, and give up my current one by June or July. Then just a day ago the bank filed a motion with the court to get permission to proceed with the repo, barely weeks after I declared for bankruptcy. My lawyer told me that he's never seen such a fast and aggressive move.
So instead of 3 months, I got like mere weeks before the repo men starts looking for my car again, and I may not be so lucky this time around.
My question is this: I'm moving to the big city to live with a buddy of mine. And the apartment won't be under my name. I also pay whatever bills I have via online. If I don't notify the DMV or any government insistutions right away, will that buy me some time? I just to save up till June, THEN I can give up the car.
I know it's inevitable that I'll give up the car. I just need another month.
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