Bank won't take car back..

[BrokeIslandGirl]

Hi everyone,

Just thought I'd run it past the members here on what their take is on my situation.

I was discharged in 11/2009 and I requested my vehicle be surrendered.
The vehicle isn't and hasn't been running for over 6 months. This is the reason the bank won't come and repossess the vehicle. I could have lied and just had them come and pick it up but I did tell them the car was inoperable, hence my giving it up in BK.

The bank is refusing to come get it and refusing to release title to me unless I make some kind of offer on the vehicle. I was asked to provide a mechanic's report and make an offer on the vehicle so they could release title to me. I still owed a little over $2000 and it's going to cost over $3000 to fix the vehicle.

Does the bank have the right to hold me hostage to this vehicle? Not sure what to do. I've spoken with my attorney and he's never heard of a situation like mine.. but advised to send the requested paperwork and see what happens from there and give him a call as to what the outcome with the bank is.

What to do? unsure:

Thanks to anyone that can offer advice

[SMinGA]

They don't have the right - holding the title until you make an 'offer' sounds like unethical collection practices to me.

I'd only be willing to 'offer' $20-30 for the blown-engine Taurus in my driveway. At least then I could find someone willing to take it for free perhaps just to be rid of it. I fear I'm stuck with it for a long time, as I'm several states away from my lender (USAA) and I've read others in the same boat/same lender having trouble unloading surrendered vehicles.

[keepinitreal]

If it's not a far distance to the closest branch of that bank, could you have someone tow the car to that bank branch's parking lot, put the key under the floor mat, and send the bank a registered letter return-receipt letting them know where their car is?

[BrokeIslandGirl]

Thanks for the responses

That I was thinking about doing, towing it to the CU that still holds the lien and give the keys to a manager of the branch or something and let it be their problem, lol.

I'm worried now about my state dmv, because I've cancelled the insurance on the car and failed to return the plates to them as of yet so now I'm having to either pay the uninsured motorists' fee since the car still registered in my name 'cause the bank will not take it back. I could lose my license for not insuring the car and now have to request a hearing to explain why I had cancelled the insurance in the first place.

I'm thinking this is the CU's last ditch effort to get me to pay something so they don't get totally screwed. They told me they couldn't take it to auction 'cause it wouldn't be cost effective to them to try to sell a vehicle that isn't even working.

Just a big mess and here I thought, once discharged, I wouldn't have to worry any longer..

[dscurlock]

Does the bank have the right to hold me hostage to this vehicle? Not sure what to do. I've spoken with my attorney and he's never heard of a situation like mine.. but advised to send the requested paperwork and see what happens from there and give him a call as to what the outcome with the bank is.

Hostage? Do you feel that you should get the title free and clear?
The title is theirs until they accept an offer to release the title.
Just because you file does not give you a free title...rather then
paying a tow company, push it out to the side of the road, take off
the tags, and sooner or later, it will get towed...and the make
note that bank refused to come get vehicle...and if you know
who towed it, send the info to the bank...

it sorta makes since that they did this..you filed, the car would cost
$3k to get fixed, and probably worth much less then that...the car
to the bank is already a lost cause...

any offer at this point that would release the title
would be good for the bank...as it would be more of
a loss to come get it, then have to deal with it...

Do not be concerned with your cancellation of your insurance...
Insurance is meant for drivers with drivable/working cars...not for people
that filed BK, and have a non drivable car...if anyone says otherwise, tell
them you filed BK for the car, and the car is non-driveable...honestly,
you do not even need to mention your BK..the car is just not drivable...

[BrokeIslandGirl]

I just wanted for the car to be out of my possession, out of my driveway. LOL..

If the car didn't cost so much to fix, I would have gladly kept it, fixed it and reaffirmed the loan, but unfortunately that wasn't the case. The car broke down a couple weeks after I filed with my original intent to reaffirm the loan on it.

I realize the bank won't release the title for nothing and I wasn't expecting them to. I just wanted to be rid of the car.

Thanks

[Dannmcg357]

I was discharged in 11/2009 and I requested my vehicle be surrendered.

The bank is refusing to come get it and refusing to release title to me unless I make some kind of offer on the vehicle. I was asked to provide a mechanic's report and make an offer on the vehicle so they could release title to me. I still owed a little over $2000 and it's going to cost over $3000 to fix the vehicle.

I think someone else had a post about this situation. It has been ruled at least in one state that what they are doing is an infraction of the automatic stay. They are attempting to collect a debt plain and simple.

[Dannmcg357]

This is the post I refered too:

http://www.bkforum.com/showpost.php?p=386996&postcount=8

Here's the entire thread:

http://www.bkforum.com/showthread.php?p=387077#post387077

[BrokeIslandGirl]

Thanks Dannmcg357!! I appreciate it very much. This was a very helpful thread indeed!

Wishing a much successful BK to you!!

[Dannmcg357]

Socket to em