Order to surrender a repo'd car??

[krowla32]

First timer here, thanks to whomever developed this community and to all the posters here, you have helped to make this process less scary. My file date was 1/17/07, 341 meeting 2/23/07, last day for objections is 4/24 (I think), anyway..

Has anyone ever had an "order terminating stay" on a reposessed vehicle? Some history, my dh lost his job back in 5/06 about 3 weeks after I quit my job to stay home with our youngest boys and open a family daycare. Long story short, we fell behind on one of our cars and were going to do a voluntary surrender but the car was repo'd. That was in in 9/06. My attorney said this was just a formality but I am wondering if the finance company dosen't know what the other hand is doing? Any thoughts?
thanks,
Amy

[lrprn]

Welcome to BK Forum, Amy! Glad to hear you have found the forums helpful. I haven't had a repossession, but other members here have. Hopefully one of them will chime in here with the answer you need.

Feel free to post questions and vent on the bad days. Welcome to our little bk bus of mutual support. Glad you found us!

[poorme]

If the car was repo'd that far back, seems like a moot point to me. However, if you have a deficiency balance that you need to include in the creditor listing - maybe it is a formality...but seems unlikely that a creditor who already has the property would tie up the court's time filing unnecessary paperwork. Trust your attorney - but be sure to ask them plenty of hard questions about it. Like "Are you absolutely positive about that?" and "Explain to me why this is happening, then...because if they already have the property there's no need to lift the stay, right?"

[rrockinggramma]

the order to lift the stay is a formality. The stay has to be lifted so they can sell the car at auction. It isn't anything to worry about. Any deficiency balance will be discharged in your BK.