Any effect?

[325Falcon]

Will a car repo just before filing have any effect on the BK or the post BK credit recovery?

I will be 90 days late, 2 weeks before we file. I am not sure how long the CU will let me go before they repo the car.

[325Falcon]

Once I file, this car will be subject to the automatic stay correct? Is this the case even if the credit union has started the repo process prior to us filing?

[magyar123]

Once

[magyar123]

Once you file and the creditor gets notified that you filed the car will not be repo'd. However in the meantime, from now until the day that you actually file, they can.

[Boscoe]

I would make sure you keep it parked in your driveway, i.e. on private property. They cannot repo it on private property. If you need to drive it around, just do not leave it alone, i.e. in the parking lot while you shop. Hopefully where you work is a private lot too. If you leave it on the street, it is likely to be repo'd.

The only other option, aside from filing bk earlier, is to talk to the lender and maybe even make one payment to hold off the repo until you file.

And once you file, fax over the notice of filing to them asap, so they are on notice that you filed and that an auto stay is in effect.

[rilbrianne]

Why waste your money? It takes months for them to pick up a vehicle. Believe me, I had to beg them to come take my car because it was sitting in my driveway taking up space. It took about 4 or 5 months for them to be gone.

I had 2 cars that I called and told the companies I wasn't going to pay anymore. They kept calling for 2 or 3 months trying to get me to make the payment and keep the car. I finally told them to come get them and they still didn't for another 2 months.

I think you'll be fine. It shouldn't affect the BK because it's just another debt. You acquired the debt in the past and as long as you haven't made payments within the last 6 months ( I believe is the time frame - someone correct me if I'm wrong) then you'll be fine.

[PaKettle]

I would make sure you keep it parked in your driveway, i.e. on private property. They cannot repo it on private property. If you need to drive it around, just do not leave it alone, i.e. in the parking lot while you shop. Hopefully where you work is a private lot too. If you leave it on the street, it is likely to be repo'd.

The only other option, aside from filing bk earlier, is to talk to the lender and maybe even make one payment to hold off the repo until you file.

And once you file, fax over the notice of filing to them asap, so they are on notice that you filed and that an auto stay is in effect.

I'm not sure but I think that in SOME states, they can repo even if it's on private property, they just can't BREAK IN to repo. So if it were in the driveway (in some states) they could tow it; if it was in a garage, they could not.

Someone will correct me if I'm wrong, but I think I read that somewhere.

[325Falcon]

Yes they can take it out of the driveway but not out of the garage or barn.

My concern is weather a "repo" before my dicharge is any worse than the BK itself.