Repo or IIB

[tsmith05081982]

Hey guys... new here.. I have found this site very helpful.. I recently filed for CH 7. My 311 Meeting is Nov 30th... I 2 cars i am surrendering. One was with Cap 1. They wasted no time coming to get the truck... They actually came and Repo the vehicle a few weeks before my case was filed.. My other car is with Wells Fargo they have still not picked up the vehicle.. My question is.. Is the Cap 1 going to show up as a REPO on my credit? What about the Wells Fargo? I will be needing to get another vehicle after the discharge.. I wonder what are the odds that Cap 1 will finance me again or if i should just try to go through lending tree??

[lrprn]

Welcome to BK Forum, tsmith - glad you found us!

Is the Cap 1 going to show up as a REPO on my credit? What about the Wells Fargo?

Since the Cap 1 vehicle was repossessed before you filed, it will show as repossessed on your credit report. Since the Wells Fargo vehicle was not repossessed before you filed, it will show at IIB on your credit report.

I will be needing to get another vehicle after the discharge.. I wonder what are the odds that Cap 1 will finance me again or if i should just try to go through lending tree??

After your discharge and closing, start with lenders that were not involved in your bankruptcy. Your terms are going to be bad.

If you can accumulate the cash from not paying your secureds, buy a junker, and drive it for awhile, you will get much better rates the longer from discharge you can go.

[tsmith05081982]

Ok... so since they picked it up only a few days before it will still show BK?? But it will also show that i filed BK on the loan right?? And i wont be responsible for the balance right?? As far as the loan goes.. would you suggest going through lending tree?? I am only filing on some CC and Wells fargo and Cap 1..