Post Discharge - Questions about giving up my car

[danaf]

I've been thinking about this since Dec. and think I'm finally ready to give up my car. Included it in BK - so can do.

A small CU has the loan in my same city. How long do you think before they'd come get it?

This would be considered a repo, right? Would it go on my credit report?

[justbroke]

It's not a "technical" repossession, although the process may be similar. You do not owe anything "legally" to the credit union. (This is the reason why they want those pesky reaffirmations, so you can't do this. However, if you didn't reaffirm the debt, you get to walk away clean.) It should continue to show as discharged or included in bankruptcy (IIB) on your credit report (if you didn't reaffirm the debt).

You could wait it out (see how long it takes), or just tell them you're coming to drop it off at one of their branches.

Are you trying to bide your time, because you want to use the car as long as possible?

[danaf]

Yeah - just curious about how much longer I'd be able to drive it for.

I will be driving one of my husband's trucks. Want to get the truck tuned up ect. first.

I know the CU gives 15 days leeway to make payment from the day payment is due. But beyond that - no clue. I think because they are in my same city, it will be much faster than other's I've read about on here. I suppose it's just a crapshoot.

I also don't want a repo ding on my c/r. This car was included in bk and I didn't reaffirm. Techinically they can't ding my c/r but just wanted to be sure.

[carbk]

According to what I understand, nothing would change on your credit report if they came and got the car. Basically the car was already included in bk, you were allowed to keep the car provided you continued making your payments. If you stop making the makings they will just come and pick it up. end of story - these are the words from my attorney.