car being repoed

[shelly66]

we are finally filing our chapter 13 on july 21st and my car that I was going to surrender is about to be repoed. I am not going to start to pay it now just to hold off from this happening, we need to save our money to finish paying the attorney and get a house appriasal to strip 2nd. Should I just let them get it ,what will be the difference now verses later? They call me at least 6 times a day so I know they are mad. It's now over 60 days past due.We have 2 cars with Ford Motor Credit and we have been only paying the one we are keeping.

[h0usekeeper]

How long have you had your cars. You can cram down the vehicle as well under Chapter 13.

[woeisme]

If you turn in the car you can end the harassing phone calls, can also make sure all property is out of it and that you won't have repo man showing up at work, or taking the car while you are running errands with it, etc. but if you want to see how long you can hold onto it, just make sure that you never leave anything in it that you want to keep, and drive it til they take it.

[StartingOver08]

Be aware that Ford Motor Credit is ruthless when it comes to bankruptcy and their credit agreements. They are one of the ones that will repo a vehicle even if you are current in your payments and you file a Ch 7. They REQUIRE a reaffirmation agreement.

I noticed you are filing a Ch 13. Ford Motor Credit even has filed objections to a debtor surrendering the vehicle in full satisfaction of the vehicle debt in a Ch 13. See this case here: http://pacer.flmb.uscourts.gov/pdf-new/34085047.pdf Fortunately the Courts rules in favor of the debtor. Just be aware that Ford Motor is difficult and you need to make sure your attorney handles each of your vehicles appropriately with FMC.

[shelly66]

I can't cram down the vehicles becuase they were both bought in Aug 08.

[Justpoor]

Does anyone know if they can repo the car without sending youa letter first? Mine has been calling but nothing in the mail. I'm also just pass 60 days but with Honda.

[sassiebaz]

I always had a notice of "intent to reposess" from Chrysler. Yet they still called and were willing to make arrangements. In this economy, these lenders don't really want the vehicle. But, in order to satisfy the loan on some level, they will come get it and sell it a auction.

[tkharvey]

Yes they can and will repo your car without a "letter". Took mine in the middle of the night (wasn't even late on the car payment but with another loan with the same credit union....I quickly learned about the term "cross collateralization".) Voluntarily surrender car if you don't intend to keep it. Saves lots of embarassment as some of the neighbors asked us why our car was being towed in the wee hours of the morning.