In 60 day period & lost my job...HELP!

[bknflorida]

I just lost my job yesterday & my bk is not yet discharged. Will the Trustee now say I have to give back mine and/or my daughter's car because we can no longer afford them even though they are current. I can't possibly look for a job w/o a car & my daughter has her car with her while she's going to school down south & if we can't keep it she will have to leave school & come home. I'm so confused & depressed. I was let go w/o any warning & the crappiest part is I found out because someone called to apply for the job in the paper & I answered the call. Nice way to be treated after many years with the company. I feel like I just got kicked in the stomach while I was already down & I don't know whether to continue trying to get up!

[dingdong]

I don't have an answer for you but just wanted to say I am really sorry.

Get online and file for unemployment right away.

That really sucks. Did they have a reason for letting you go?

Maybe you will find a better job and there is a reason for all this. Try and stay positive, and keep your chin up.

One of my co-workers was fired recently and now he gets more on unemployment than he did working as our hours were cut at work.

[bknflorida]

Thanks dingdong! I applied for Unemployment this morning but it'll be a week or two before I get it. I know its not going to be as much as I was making but hopefully enough to keep me afloat until I find something. I'm just terrified of what the trustee is going to do about the cars. I'm hoping if I keep them current that she will let me keep them but I just don't know. I'm going to call my attorney tomorrow but he's such an a**, he hasn't spoken to me since my 341 mtg., he got his money so he's pretty much done with me!

[StartingOver08]

Did you do a ride through on your cars or a reaffirmation?
If you did a ride through - there is nothing to do, just keep paying on the cars. If you get to where you can not afford the cars, then you can surrender and it will not show on your credit (as long as you did not sign a reaffirmation).

If you did a reaffirmation then just keep paying on the cars - or cancel the reaffirmation. You are allowed to change your mind on a reaffirmation if it is within 60 days of signing and before the discharge. To cancel the reaffirmation the attorney would have to file a motion with the court.

[TEW]

Thanks dingdong! I applied for Unemployment this morning but it'll be a week or two before I get it. I know its not going to be as much as I was making but hopefully enough to keep me afloat until I find something. I'm just terrified of what the trustee is going to do about the cars. I'm hoping if I keep them current that she will let me keep them but I just don't know. I'm going to call my attorney tomorrow but he's such an a**, he hasn't spoken to me since my 341 mtg., he got his money so he's pretty much done with me!

I you may have a misunderstanding about what a trustee does. Are you planning on reaffirming the car? if so if you are unemployed there is a good chance the judge will deny the reaffirm and the bank will then want it back. have you have your 341? if so you will need to tell the trustee about that. If you have keep making the payments and get rid of the car if you find you can no longer afford it.

[bknflorida]

I had my 341 meeting back on 1/20, so my 60 days is up in a couple of days. I did reaffirm on my car, not my daughters (they didn't request one) just kept paying on that one. Do I need to notify my attorney and/or the trustee that I lost my job or just wait out the next few days & see what happens? I'm not thinking straight right now so I don't want to make a stupid mistake. Thanks for all the advise guys, it really helps!!

[bknflorida]

Sorry to bump back up but wanted to see if anyone can answer my last question. Should I contact my attorney to let him know about my job loss or just wait to see what happens???

[StartingOver08]

If you are going to surrender your car you have to cancel the reaffimation today. Get with your attorney and have him cancel and file the motion because it must be done within 60 days of your original reaffirmation.

Otherwise you are stuck with the car and the payment. If you fail to make the payments now, it will go against you on your credit and a repo will show (if it gets to the repo stage).

[JRScott]

You really need to get your attorney to rescend the reaffirmation agreement, even if you lose the car. Otherwise if you fail to make timely payments in the future they can take the car back anyway and you'd still owe the balance. This needs to be done before you case discharges.