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Please help! Repo before or after CH.7?

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    #1

    Please help! Repo before or after CH.7?

    I am considering on filing chapter 7. I have about 20,000 in debts including a 7,000 car loan. The car I had given to my cousin to take over payments, she did so for about 6 months and then without letting me know passed it over to her sister-in-law (whom I do not know!) and she took over the car payments for about another 6 months. Now it turns out they did not want the car anymore and my cousin returned it to me! The car was returned in horrible conditions and I had nothing else to do but take it back because it is under my name! I am 2 months behind on the payment and I would like to know if I should call the car loan company and tell them to reposess the car and then file bankruptcy to take care of the difference after they sale the car in auction?

    Please help! I also am unemployed and only have one car...does anyone know what forms of the chapter 7 apply to me....I am knew at this and I cannot afford a lawyer to help me out...Please help THanks
    Filed Chapter 7 4/22/2009
    341 Meeting Scheduled 5/27/2009
    Discharged 7/30/2009
    Awaiting closing!!!!
    Tags: None
    #2
    Forgot to mention. I have a car besides the one I owe. Do you think they would take away my own car if I file CHapter 7? Thanks
    Filed Chapter 7 4/22/2009
    341 Meeting Scheduled 5/27/2009
    Discharged 7/30/2009
    Awaiting closing!!!!

    Comment

      #3
      Some questions first, arami.... How long have you been unemployed? Are you looking for a job now? Do you own a house? What is inclued in your $20,000 of debt?

      If you tell the lender on your "loaned out" car to repossess it, then if you did file Ch 7, it's likely that you'll be able to keep the car you have now.

      Make 2-3 free consultation appointments with bankruptcy lawyers in your area. These half-hour to hour visits cost nothing and you will learn a lot about whether it makes sense to file for bankruptcy in your specific situation. Good luck - keep us posted on what you find out, ok?
      I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

      06/01/06 - Filed Ch 13
      06/28/06 - 341 Meeting
      07/18/06 - Confirmation Hearing - not confirmed, 3 objections
      10/05/06 - Hearing to resolve 2 trustee objections
      01/24/07 - Judge dismisses mortgage company objection
      09/27/07 - Confirmed at last!
      06/10/11 - Trustee confirms all payments made
      08/10/11 - DISCHARGED !
      10/02/11 - CASE CLOSED
      Countdown: 60 months paid, 0 months to go

      Comment

        #4
        I have no house, but have been unemployed for about 1-1/2 years, because I had my two sons and am still going to school. I have nothing but a 2000 dodge caravan we borrowed money from family to buy, I have a very sick son who needs to be taken to the doctor at least once a week, so we need a reliable car. The debts are only for CC and a phone bill (verizon) that I wasn't able to keep paying. I am embarrased to say but I am on welfare and my sons receives SSI for his disability he is only 19 months old. It has been stressing, so if I get discharged it will be a problem less to stress about.

        I would also like to get as much advice as I can to see if I can file on my own.Thanks
        Filed Chapter 7 4/22/2009
        341 Meeting Scheduled 5/27/2009
        Discharged 7/30/2009
        Awaiting closing!!!!

        Comment

          #5
          Arami,...........

          Lots of people have filed BK Pro Se. Pro Se is without an attny.

          But the people who make it thru on their own successfully, did a lot of research first.

          You can't just ask what forms you need, wonder thru the forms and hope to correctly fill them out. Mistakes on the Forms and Schedules of your BK Petition can get your BK kicked out before you ever get started. Then, if you're lucky, you'd have to wait another 6 months to refile.

          Sounds like letting the car go back now vs surrendering it in your BK filing makes little difference. You don't have income to garnish. Chances are, you don't have much of a bank acct to go after. If your other car isn't worth much and you don't own any other property of value, there's nothing for the Lender to attach a lien to.

          So take your time. Research. Learn. Get the Nolo Book and read thru it. Schedule several Consults with attnys to learn info from them.
          Filed Ch 7 - 09/06
          Discharged - 12/2006
          Officially Declared No Asset - 03/2007
          Closed - 04/2007

          I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

          Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

          Comment

            #6
            Originally posted by arami008 View Post
            I have no house, but have been unemployed for about 1-1/2 years, because I had my two sons and am still going to school. I have nothing but a 2000 dodge caravan we borrowed money from family to buy, I have a very sick son who needs to be taken to the doctor at least once a week, so we need a reliable car. The debts are only for CC and a phone bill (verizon) that I wasn't able to keep paying. I am embarrased to say but I am on welfare and my sons receives SSI for his disability he is only 19 months old. It has been stressing, so if I get discharged it will be a problem less to stress about.

            I would also like to get as much advice as I can to see if I can file on my own.Thanks
            Sounds like you would qualify for assistance from Legal Aid. Check in the phone book. Call around. Someone will eventually point you to their office.

            Maybe a Legal Aid attny will help you file your BK free of charge. They can probably help you with surrendering the car to the Lender also.
            Filed Ch 7 - 09/06
            Discharged - 12/2006
            Officially Declared No Asset - 03/2007
            Closed - 04/2007

            I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

            Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

            Comment

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