Ford Credit filed for relief of stay

[jane taylor]

Just got a notice that Ford Credit has filed for a relief from stay. We were financing an '02 vehicle through them. It is worth just a little more than we owe on it so we didn't think we had a problem. What's next? I'm calling my attorney first thing Monday A.M., but was just curious this weekend. We are two payments behind now as our attorney told us not to make payments when we decided to file. Should I be concerned that we will lose our vehicle?

Thanks!

[SinkingFast]

Have you filed your 13 plan yet?? Did you or will you include your auto loan in your Ch 13 plan payments??

Have you already started making plan payments yet??

I've read where some people go ahead and start paying the amount the attny figured pending plan approval from the Trustee.

Maybe others have experienced similar events with their car loans.

I know with homes, Mortgage Lenders get a relief of stay so they can go ahead and proceed with Foreclosure to auction the property.

Hopefully that is not the case with your car loan.

[jane taylor]

Dear Sinking:

We filed on February 24, 2006. We did include the vehicle in the Plan and have already made one payment to the Trustee. They started deducting money from my husband's paycheck yesterday. We've done everything "by the book", although I know that it sometimes in this process. Could this be paperwork crossing in the mail, etc.? I certainly hope so.

Hope you are having a good weekend. How are things in your world?

[SinkingFast]

Probably exactly that, Jane. Paperwork crossed in the mail.

You've done your part. All you can do now is wait til Monday and follow-up with the attny, maybe the Trustee, and the Lender.

We've had another terrific week! But it ended on a good note.

Monday I sold my truck to pay the taxes. I about died. Did a quick sale. Went to a couple dealers, got the best price we could, filed the paperwork to cancel the extended warranty and get back pro rated $$$ from that.

Tuesday my computer crashed. It's dead. A computer geek friend of son's is trying to revive it. Looking on the bright side, it makes things easier for BK. New Law only allows for one computer.

Wednesday was uneventful. Thank Goodness.

Thursday, an older teenaged boy threw a rock at my daughter's car as she was driving down the road. Shattered the driver's side door window. Luckily no one was hurt. Daughters 1 and 2 were picking glass outa their hair and skin. Daughter #2 called home to tell what had happened. They didn't know what to do. I said call the police. I wanted an adult person of authority to talk to the boy. Let him know that people get killed that way. The boy said he'd pay for the window, but another kid saw him slip off and make a cell phone call. Overheard him telling someone, probably a parent, that he was at another kid's house working on a school project and would be home soon. So he lied. He also didn't give daughters any contact info on how to get in touch with them to pay for the repair.

The girls came home, Daughter #1 showered, and they both changed clothes. Then they went to get duct tape and window plastic so we could cover the window hole. I told them to go to a car wash to vacuum out the car. None of the self serves had opened for the season yet. Luckily, the girls have a couple of friends that do detail work for a dealership. One of the boys called the girls, told them to bring the car into the shop. They'd take care of it. The boys cleaned up the car for us. Girls said they got a ton more glass out of it.

Friday, I went to school and asked to have the Vice Principal in charge of Discipline to contact the kid's parents, tell them about the incident, and give the parents our contact information to call us. Meanwhile, at home, I Googled them. Got their address and phone number and waited.

No contact from the kid's parents Friday, so I called their house today. Left a message on the answering machine. A couple hours later, the kid's Dad called. Very apologetic. Says he'll pay.

Supposedly it's a divorce situation. Mom had custody but wasn't doing her job parenting. He sued and just got full custody of the boys. He's been dealing with issues ever since with both boys. We'll see. Coulda been a CYA on Dad's part since there's a police report of the incident.

When we filled out the paperwork to cancel the extended warranty, the Dealer told us it would take a month to 6 weeks to process and get the money. UGH! The check came in the mail today!!

Another wierd week of ups and downs. But it ended up!

[jane taylor]

Glad your kids are all okay and that your week ended on a positive note! Thank you again for responding. I'm calling my attorney first thing tomorrow morning.

[poorme]

The motion for relief from stay is almost always requested by the holder of secured notes, such as homes and cars. My mortgage holder wouldn't even discuss a reaffirmation or anything while the stay was in effect. They said they needed the stay lifted to "secure their interests". An unsecured creditor would have to make a pretty strong case to have a stay lifted for their needs.

[jane taylor]

Talked with the paralegal this A.M. The motion actually said "relief from stay and/or adequate payment protection." She said some of it is new wording under the new law and not to worry about it. Said that as long as we are paying into the Trustee we are doing our part. Said that creditors are just ticked because they don't get paid until confirmation of the plan. we've already made one payment and it has posted and the 341 is on 4/4. Guess it will be okay.

[jane taylor]

Got a letter from the trustee yesterday ojecting to the motion for relief. My husband gets irritated with all the "legalese." If we weren't all going through this I would think all that legal mumbo jumbo is kind of funny. It takes three pages just to say, "Okay, Ford Credit, they owe less than the thing is worth--Chill!!"

[Minnymouth]

jane taylor,

Yes, the legal mumble jumble leaves a lot to be desired. Why can't they just say - NO.... not today...... or That's okay..... your mortgage is good.....

Not them........... really they don't want you to understand the language or the system of how it all works.... Keeps you in the DARK....

It's really wise to research bankruptcy before you ever file and find out your options, what can possibly happen, etc.

Would have SAVED MY BUTT.... if I had done it..... BUT HINDSIGHT IS 20/20.....