Another Santander Repo

[katsr]

Santander repo'd my 2005 Mazda Tribute SUV with 90k miles on it 3 weeks before I got a great job. I owed 8k on it and it was worth MAYBE 5k. At 12.99% interest and 15 miles per gallon it isn't a great loss to me. However, I am almost 60, single (on my own) partially disabled and unable to stand and wait for buses, etc. I filed Ch. 7 pro se on 6/17 before I knew about the job.

So here's where I'm at now: I need to report the new income to the administrator (is an administrator the same as a trustee?), and also ask permission to try to find a reputable lender who will lend me enough to buy an 8-10 year old fairly reliable car that I can pay off in 6 months.

Tomorrow I'm sending back some schedules that I initially missed, can I simply include a letter? Is there another procedure that might be more successful? Anyone have some brilliant strategy?

[despritfreya]

1. You filed chapter 7 before you knew about the job.
2. As a result, unless asked, you do not have a duty to "report" the new job.
3. Post petition earnings are not property of the estate so, unless you are making a ton of $$ your new job has no impact on your case. And, even if you were making a ton of $$ it shouldn’t matter.
4. You do not need "permission" to take out a loan. Again, since you are in a Chapter 7, post petition debt has no impact on your case. What you most likely do need before anyone will lend you $$ is your discharge. You should get it in about 60 to 90 days after your 341 Meeting, assuming you have taken the 2nd credit counseling class, have filed the certificate of completion, and no one timely objects to your discharge.

Des.

[catleg]

Try and rent a car until your case is discharged.
In the meantime, "loose lips sink ships".
At your 341, answer what you are asked, volunteer no information.
Des is the most brilliant person here, listen to him/her.

[katsr]

WOW! This is great news and wonderful advice. I will be able to pay 5-7k cash for a semi-reliable old Toyota or Honda by September 1st and have NO payments to anyone.
In the meantime I have seen some pretty cheap long term rentals at the airports. Thanks so much folks!

[sh9730]

The only littttlee problem you ll have with a rental option unfortunately is that most of the majors (like the ones at the airport) require a credit card deposit...

[jetsfan2010]

If you will be able to pay for a car in cash by sept 1st try to make it till then either renting a car or even trying to pick up a beater off of craigslist for 1000-1500 just to get by.

[catleg]

Some people have access to a "friend's" credit card or in a few cases a corporate Amex.

[katsr]

My daughter will use her cc if need be but the cheapest rental for 2 months I have found is $1400 (choke, sputter, cough). I get my first paycheck on July 15 but couldn't even get a beater until Sept. 1st. Interesting though, Santander sold my car for $700 more than I owed on it. I asked how soon I could expect a check for the difference....

[jetsfan2010]

you lucked out the fact they sold your car for more than owed. Thats probably why they were so fast to repo it(they knew they could get their money). I was upside down nearly 9k with them (nada value vs loan owed) and at auction they would get 50 percent of nada.

[catleg]

Don't they have "Rent A Wreck" anymore?