Making vehicle "Unavailable"?

[Genenco]

OK, let's say that while I'm paying lawyer for Ch 13 fees and going through "Counseling" I want to obviously keep the vehicle.

So, I "Hide" it so as to make it almost impossible to find/reposses. Is this illegal?

[derf]

OK, let's say that while I'm paying lawyer for Ch 13 fees and going through "Counseling" I want to obviously keep the vehicle.

So, I "Hide" it so as to make it almost impossible to find/reposses. Is this illegal?

In almost any BK Case, Concealing assets is a sure fire way to get your case thrown out, and possibly fined.

However, if you normally keep the vehicle in question in a locked garage on a regular basis, and have always done so; then as long as you cooperate with your lawyer, trustee, and have an approved re-affirmation agreement for the vehicle, there shouldn't be much to worry about.

Just be honest as to where the vehicle is, and let your intentions be known to the leinholder, trustee, and your lawyer.

[Genenco]

Sorry, I wan't clear. But it matter not..I have found out I cannot do a 13 anyway...Changes coming and I can't stay in position...

[Minnymouth]

If your in a Chapter 7 they will not bother your vehicle as long as you pay for it.... some require you reaffirm.

They more than likely will not repo the vehicle until after discharge otherwise they have to file a motion to lift the stay and most don't do that.

Don't try to fool the Trustee, it will cost you in the long run!!

Just a thought,
Minny

[Genenco]

No Minny, would NEVER screw with anyone regarding what I was doing or such...Especially a Trustee, have heard MANY stories (And read some here) that make me know for sure to walk the fine line and not mess with it.

Ummm..One final thought..Am I supposed to keep it insured till it's taken back?

[Minnymouth]

If your smart you will, I had two cars run off the road and hit mine sitting in the driveway.

If you feel lucky - don't insure it!!

Minny

[StaciMM]

You are supposed to keep it insured while its in your possession. If you don't want it, and don't want the cost of insuring it, you can contact the lender and arrange to leave it at a dealership or have them come to pick it up.

Dropping the insurance is likely to speed up the repo process (if you're not in BK) or encourage the lender to file for relief (if you are in BK). In some states, you can be fined. GA will penalize anyone who lets their insurance lapse.

I don't know the details, but I think one part of the new law is that you must sign a reaffirmation to keep secured property. Don't know how it would be enforced though!

[Genenco]

Thanks Staci, I guess it's best to keep appearences up for now

[robivi3]

Dropping Insurance is a horrible idea. The car is in your name, you are required to insure it. The consequences of no insurance can be devestating. At the least the loss of your driving priveledge.

[Genenco]

Dropping Insurance is a horrible idea. The car is in your name, you are required to insure it. The consequences of no insurance can be devestating. At the least the loss of your driving priveledge.

Oh no Robivi, I have another vehicle I use. So that one is covered no matter what. But yes, in my state you get some "Stiff" penalties of caught without insurance.

Ticket $450
Suspended $300
Tow of car $120+
Storage $35+ PER DAY!


I knew one worker who was busted 4 times for no ins. He finally got 6 months in jail, but the judge told him that while he understood the costs of insurance was high, that it's things like this which hurt eveyone else and if he appeared before the judge again, the sentence wouldn't be suspended like he'd do it this time.

3 months later, he got caught again...I think he got a year..Idiot!

[robivi3]

I wish Florida did that. We pay extra and there is little or no enforcement against those who live outside the law consistently. As far as enforcement of the law like that Florida is a bloody joke.

[Minnymouth]

I heard that - Half the people in Ky do not have insurance or driver's liscense......
If your in a wreck - better cover your own A**** because the other man sure isn't covered...
Makes me so mad - they just slap their hand, tell them to get insurance, etc.

Minny