Credit Union won't take car back.. at least not now.

[momof5]

My husband talked to the 'main' bk guy from our Credit union and he said they cannot take the van now. He said that we would have to wait until after discharge to surrender it.

While I am happy for the extra free month of using this vehicle. My insurance is due the 14th. I REALLY did not want to have to come up with $274 just for a couple of weeks.

Anyone else run into this problem? I see so many that have taken their vehicle to a mutually agreed upon place prior to discharge. Why would they not want it now?

[Martha13]

Hi there, We did have an issue with one of the car companies refusing to accept the car until we had an actual case # and not before, but they didn't insist on after discharge. That seems a bit silly. Can you pro-rate your auto insurance and only send in the amount that would technically cover it for a couple of weeks? It seems like if you sent your insurer something, it would take them at least a couple of weeks to figure out the balance, and by then maybe you'd be discharged and could call it even.

[BassBoy]

In order for the Credit Union to take possession of the van, they have to file a motion to lift the stay. Since you will be discharged in a few weeks, the discharge automatically lifts the stay and the creditor doesn't have to go through the process of filing the motion and then waiting for the hearing.

You can park the van and keep the comprehensive coverage until it's time for the Credit Union to have it picked up. That could save you some money this month, but as long as the van is in your possession (titled to you that is), you need to keep it insured. I don't believe your insurance company would cancel all coverage since there is a valid lien against the van.

[magyar123]

Just drive the car into your lender's parking lot. Make sure the gas tank is almost empty. Walk the keys inside and give them to the receptionist. Tell him/her that you're surrendering the car, and walk out.

[Cali]

The company we financed our vehicles with, weren't going to come get the SUV until after discharge. But they changed their mind and filed relief of stay. The hearing is next week. The last day for objections is 9/8.

I haven't paid on it since March, but have been driving it and have FC on both vehicles.

You pay 274$ on one vehicle?

My husband talked to the 'main' bk guy from our Credit union and he said they cannot take the van now. He said that we would have to wait until after discharge to surrender it.

While I am happy for the extra free month of using this vehicle. My insurance is due the 14th. I REALLY did not want to have to come up with $274 just for a couple of weeks.

Anyone else run into this problem? I see so many that have taken their vehicle to a mutually agreed upon place prior to discharge. Why would they not want it now?

[joab]

You might check with your insurance carrier: there's a good chance they'll prorate your premium once you surrender the car. Every time I've ever gotten rid of a car my carrier has returned the unused portion of the premium.

[momof5]

You pay 274$ on one vehicle?

Thats for 6 months with collision. I know they will refund whatever amount isnt used. We were just really hoping to not have to pay it at all, knowing that we were giving the vehicle up.