Quick question about repo

[theurge]

I'm going into my lawyer in the morning to get everything finalized and in my bk I am surrendering my vehicle. Well the replacement vehicle I have right now isn't going to work out so I need a car to drive for a bit. How long will it be before they come and get my vehicle? Hopefully I have another month so I can get something else.

[soldout]

I'm going into my lawyer in the morning to get everything finalized and in my bk I am surrendering my vehicle. Well the replacement vehicle I have right now isn't going to work out so I need a car to drive for a bit. How long will it be before they come and get my vehicle? Hopefully I have another month so I can get something else.

It depends on your bank...When they find out out about your vehicle that you are surrenduring they will have to request to the court that the automatic stay be lifted in order for them to repo. (PLEASE CORRECT ME IF I AM WRONG!) If its a small town bank with not much goin on it could be fast. Mine on the other hand was with Navy Federal CU...I havent paid them a dime since november of 04. Filed in July, SHOULD BE DISCHARGED TODAY...(60 DAYS AFTER 341) and it is still in my driveway...Talk to your lawyer to get a round-a-bout time frame, but one is almost oblivious to know for certain how long it will be before they send him in. Are you current on your payments?

Hope this helps and Good Luck

~soldout~

[theurge]

No I stopped paying back in August. The loan is thru Ford Credit, so it will probably take awhile im thinking. If I understand right once they know about the Bk they can't forcefully take it until discharge right? I have no problem giving it back, but Im just hoping to buy some time.

[ndbigler]

We surrendured our car. We filed on 5/31, and they came and took our car away on July 25. We were banking thru Wells Fargo Financial though.

[ndbigler]

Also, we hadn't made a payment since March of 05.

[soldout]

No I stopped paying back in August. The loan is thru Ford Credit, so it will probably take awhile im thinking. If I understand right once they know about the Bk they can't forcefully take it until discharge right? I have no problem giving it back, but Im just hoping to buy some time.

They cant forcefully take it until they get approved from the court. (A lift from the Automatic Stay) (Correct me if im wrong someone) which will probably buy you some time to look for another vehicle...Im sure FORD Credit is so overwhelmed right now. I wouldnt doubt that in a few months once your discharged you will be calling them, harrassing them to come pick the damn thing up cause your tired of keeping insurance on it...If I were your advisor, I would say you have between a month or two to get into another vehicle...ALTHOUGH I COULD BE WRONG...!!! Anything can happen..

~soldout~

BTW..What kind of vehicle is it? That might make a difference too...If its a brand new vehicle like a mustange or a big a*s truck with low low miles, expect them to hurry for that one! My 2002 Impala, the bank gives only 2 sh*ts worth.

[soldout]

My best advice...Prepare for the worst and hope for the best!!!

[Teri]

We stopped paying on our vehicle in April and they picked it up (in the middle of the night) in June.

[theurge]

Its a 00' ranger with 67k on the clock. Not a new mustang or anything lol... Thanks for the advise we'll see how it goes.

[theurge]

I just got my case # via pacer today - should I call ford to let them know that ive officially filed so that I can buy myself some time???

[StaciMM]

You mentioned that you stopped paying it in Aug... If you're over 60 days past due, it wouldn't hurt to call them-just in case they have it out for repo already. If you're not to that point yet, they'll know within a few days anyhow...

I just got my case # via pacer today - should I call ford to let them know that ive officially filed so that I can buy myself some time???