My bk has recently been discharged and I'm trying to catch up on my auto payments. BOA says they will notify me before they do a repo and when I made my payment today he said my account was not marked for repo (I asked him). Is this info true or do they only say they'll notify you prior to a repo? Anybody know? Thanks.
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No they don't
Well first I want to you know did you reaffirm the debt. Or did you choose the ride through option ? The reaffirming of the debt means that you would have signed a new contract making you responsible for the payment even after the bankruptcy was discharged. If you chose the ride through where you just continue to make the payments you are longer responsible for debt unless you want to continue to have the vehicle in your possession. At anytime if you are behind on the payments they can repo the vehicle but if you are not they can't repo the vehicle. They had an opportunity during the bankruptcy case to ask for a relief from stay if they felt that you were behind on your payments and wasn't intending on getting them caught up. Apparently they didn't do that and many don't do that many wait till after the discharge to recover the vehicle. The next thing is how far are you behind if you are like 30 days behind they are likely not going to try and recover the vehicle if you are 60 or more days behind then it is best you get caught up. Now you need to remember you no longer have an obligation to them and they no longer have one to you if you didn't reaffirm the debt. Now saying that means that they maybe more quick to repo the vehicle if you are behind. If I were you I would try to get caught up. Once you get caught up stay current because in most states at anytime they can repo the vehicle without prior notice and it is likely if you were a costumer of theirs they would likely give you some notice or even call you but now since you are technically not a costumer of theirs they may treat you differently and not notify you. With all of that said if you are current on the payments they are not going to repo if you are it is best you get caught up and if the agent told you it is not out for repo it doesn't mean it won't be. What you should do is try and get caught up right away and communicate with them. If you want to keep the vehicle. I hope this post helps some. -
Ah, thank you. We did not reaffirm. BOA says our loan no longer shows up as so many months late etc, they only have how much we owe. I find that a bit odd, though!Comment
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Contact Your Attorney
I think you should contact your attorney. The ride through option is available in most bankruptcy districts but I find it odd they can't tell you how many months you are behind. I would put in a call to my attorney to ask him/her how the court operates in your district. It is better to be safe then sorry. If you can't get resolution there I would keep in touch with BOA. You should try calling there bankruptcy department it is possible they still have the account since you were recently discharged. If that is the case the account is still being handled by them. So try calling your attorney. I hope this helps some.Comment
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