Surrendered my vehicle tonight

[Hopefull1983]

So I let the repo man take my vehicle tonight after arranging a voluntary repossession with CitiFinancial. I did this prior to filling because I just don't have the extra money to keep insurance on the vehicle.

Question is should I be worried about CitiFinancial putting together a judgment before I file which will be in a month or two? Or do I have time before they take any action against me?

[epiphany]

If you are truly filing in a month or two and have not been served, you have nothing to worry about. Even if they file a suit now, they still have to serve you and then get a judgment. That will take a couple months.

Again, this is all assuming that your timeline for filing is accurate.

Good luck to you,
ep

[bal_ny]

It'll be a while yet before you have to worry, a couple of months at least.

When I surrendered my car, I got a letter from the CU that informed me I had to pay XXX by a certain date to get the car back. That bought me about a month. Then I got another letter saying the car would be sold at auction and that the selling price would be used to offset my balance. I'm not sure what that timeline would have been because I filed before the car was sold, but I'm guessing I'd have then gotten a bill for the remainder and they'd have given me 15 - 30 days to pay.

Good luck to you!

[AngelinaCat]

Yes, you will be okay. They just can't arrange a Judgment against you. They have to file a lawsuit with the court and then serve you with a subpeona. Typically, you have 20 days to respond to the summons, but you will have to respond. That buys you about a month. Then when you appear in court, the judge typically set a date for mediation between you and the creditor to work out a payment plan. That is usually a month away. (At least it was that way for us. In our district, those mediation days are only held one day each month. The date set for ours was a date when we were going to be out of town, so it was set for the following month. That bought us two months.)

However, I cannot stress enough that you MUST appear on the date of the summons. If you do not show up, the Creditor will get a default Judgement against you and any chance you may have had for arranging a payment plan, should you wish to do that, is gone.

[AngelinaCatHub]

To add to Ms. Cat's last paragraph, do all you can not to get a default Judgment. If you already have a bk lawyer, tell your creditor. This well usually stop their harassing calls. It took us 16 months for our lawyer to file for us and that was because we were getting angry. We didn't even have a case number yet the calls stopped the whole 16 months and we officially were not in bankruptcy. Also, I note on my PACER, many creditor failed to apply for a payout. Several collection agencies have. They purchased the discounted debt. IRS will get their first so I don't think any of the others have a chance. I cosigned for a turkey, like a fool. He defaulted and I have that whole complaint against me even though I didn't own the car, but it stopped the Judgment against me however he got a default Judgment against him for also, the whole amount as he was too stupid to answer the complaint. They won't get anything out of him but he got stuck with the Judgment, I did not. Make sense? Bottom line, inform your creditors first. 'Hub

[Hopefull1983]

Thanks everyone for the advice. I will take to my attorney also and see what else he can tell me. I'll keep ya updated...