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    #1

    Giving up on cars....

    We just faxed the papers to the attorney to surrender the cars rather than reaffirm them. We just want this nightmare over and that seems to be the hold up on our discharge. (69 days and counting) Our teenager was devastated. We are going to buy two used cars, nothing special and no financing...(so you have an image of what we will get). Our teen is now looking online at Ebay and Craigslist to see what she can get (she is working).

    I know this will sound odd but I am kinda looking forward to driving junkers....for the first time in 20 years of marriage we will have no car payment. It kinda feels good. I want to wave to all the new car drivers and shout out...it might be ugly but it is paid for!! Plus the insurance will be lower without collision and just liability.

    I feel like this is the new status....we are not keeping up with the Jones'. We are much happier with money at this point in our life.
    Filed!!04/23/2008[X] 341 5/27/2008[X]Converted to asset case 5/26/2008 [X]
    DISCHARGE 08/12/2008[X]
    Converted to NO Asset case 12/15/2008[X]
    Closed 12/16/2008 [X]:yahoo::yahoo::yahoo:
    Tags: None
    #2
    Sounds like a great plan! Congratulations!
    341 meeting 08/18/08 :aggress:
    I'm a 60day'er!!!!:clapping::yahoo:
    last day of objections 10/17/08 :D
    discharged 11/04/08 !!!!!:yahoo:

    Comment

      #3
      YOU GO GIRL !!! That is a great decision for your family, the right one, and no one will suffer, I swear...not even the daughter! I love your attitude, and support it 100% My gosh, for the past I don't know how many years I've bought new cars and I've spent a great deal of my time parking way the heck out from nowhere to "protect them".............. so now, you drive up proudly in your paid-for awesome vehicle, and park right up front, enjoy it, feel it, and poop on the BMW's Jaguar's Mercedes Beeee-ennnzzzz drivers of the world (no offense to those--just trying to think of all the cars I used to envy, haha) Wooooo hoooo!!1

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        #4
        I filed on my paperwork that I intend to surrender as well, but the finance company says they will still take the payments if I want to "ride-through". Maybe you can ammend to surrender and then just call the BK dept of the finance company and ask if they will accept payments for a ride-through.

        Does anyone know if this can get her/me in any trouble? If this is a no-no I will simply surrender, but if it is allowed I personally am gonna pay (assuming we get some kind of money) until I can afford a junker, not having a car at all is not an option for me.
        Not only am I not a lawyer, the California BAR association has sent me numerous letters telling me not to even THINK about going to law school. In fact, the lay advice I provide is not even good. In the end remember, you get what you pay for, and here in BK land were not the best at paying.

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          #5
          Congrats on taking another step

          I drive an 18 year old junker, I'm hoping she lasts 2 more years.
          May 31st, 2007: Petition Filed by my lawyer
          July 2nd, 2007: 341 Meeting Held
          September 4th, 2007: Discharged and Closed.

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            #6
            As far as I know if you continue to pay and they continue to accept payments then there is not an issue. My attorney said she won't let me sign a reaffirmation agreement with my auto loan company because it would cause problems with my discharge (I am showing negative income on my means test). She said the judge here in my district is very finicky about people being able to live within their means after a BK and that he often will not accept a reaffirmation agreement if it appears you do not have the income to support it.

            I plan on just doing a ride through on my car.

            Comment

              #7
              Originally posted by MomIcantFindmy View Post
              .

              I feel like this is the new status....we are not keeping up with the Jones'. We are much happier with money at this point in our life.
              I know how you feel! its going to be great to not have a car payment. I think people just get so used to that monthly bill that they forget what its like to live without a monthly car debt. Car loans are so long now that by the time you get close to paying it off and owning the car free and clear its time to by a new one. I will enjoy my very own 'junker' as soon as I get one. I will miss our minivan as its got tons of memories but they can have those car payments. The "jones' might drive a nicer car but I will have more money
              5/29 Filed 7~ 341-on 6/24
              8/27-DISCHARGED
              11/2 - CLOSED
              EQ-604 EX-605 TU-560 ~4.5 months after discharge

              Comment

                #8
                Originally posted by momof5 View Post
                The "jones' might drive a nicer car but I will have more money
                Just my thoughts, but the nicest car you will ever own is the one where the title is in your possession.
                Bankruptcy History:
                Chapter 7 filed - 10/12/2005 - Asset
                Discharged - 02/16/2006
                Case Closed - 11/08/2007

                A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain

                All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.

                Comment

                  #9
                  Ahhhhh, the "smell of a new car"......... or "newer" in my case!!

                  Last time I smelled that smell was in 1987 when I bought the one I'm still driving now. I'm still trying to get my "money's worth" out of the vehicle, lol!! Think I've done pretty good so far...... and she's only got 97,000 miles on her...

                  Fixing to buy me another one sometime this year.... my babies getting old and may not be safe on the "big roads" anymore. Many of the parts are still the original parts.

                  Will keep my "ole girl" as a backup vehicle like I did my van I had 22 years. She got loaned out a lot before she was sold to friends while their vehicles were being worked on.

                  All these past years it's been GREAT to say "no car payments"........
                  Minny

                  "It's amazing the paths that our feet sometimes follow in life".

                  My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

                  Comment

                    #10
                    Wise choice! We have 3 older cars. We have a '93 chevy diesel truck, 301,000 miles! LOL I know but it's a diesel and when we bought it diesel was cheaper on gas, we thought we made a wise decision, no payment. We have a '95 jeep wrangler, 105,000 or 156,000 miles we can't really be sure sometimes the speedometer doesn't work, no payment, and lastly a '99 kia sportage, 101,000 miles, no payment. They all together only book for about $8900. But we don't care, not one bit. We kind of figure it this way if one breaks down, which lately has been a problem, we have another to fall back on. I love no car payment, and we are very luck we have a good friend who is the best mechanic in the world and he helps us keep them running! We are lucky in Indiana we have a $16K on personal property which more then covers our cars and all our other assets, so we will just keep these cars and drive them til the wheels literally fall off!
                    Last edited by justplaintired; 08-07-2008, 10:20 AM.
                    Filed Chapter 7 June 4 ~ 341 July 20 ~Last day of objections Sept 18~Discharged/Closed Sept 21

                    Comment

                      #11
                      Originally posted by Priceless ProSe View Post
                      I filed on my paperwork that I intend to surrender as well, but the finance company says they will still take the payments if I want to "ride-through". Maybe you can ammend to surrender and then just call the BK dept of the finance company and ask if they will accept payments for a ride-through.

                      Does anyone know if this can get her/me in any trouble? If this is a no-no I will simply surrender, but if it is allowed I personally am gonna pay (assuming we get some kind of money) until I can afford a junker, not having a car at all is not an option for me.
                      Our attorney told us this is okay. As long as you did not reaffirm, you can keep paying if the finance company will accept the payments, and you can surrender the vehicle at any time post-discharge without any liability.

                      We included the car in the filing, but continued to make the payments. It's been a year since discharge, and we still owe 20k on a car worth about 15k. We are looking around right now, and plan on essentially getting a similar vehicle for a lower price, and then surrendering the old one.

                      The crazy thing is that when we got the original vehicle, our credit was already bad, and we've already been approved for a loan with better terms!

                      Comment

                        #12
                        I like my car, but I don't want to pay $750 a month to drive it anymore. It's not THAT great.

                        I want a different one.
                        "You can never get enough of what you don't need to make you happy."
                        6/16/08: Attorney approached lenders to surrender old home
                        8/26/08: Met w/attorney RE: filing BK
                        9/29/08: Filing Chapter 7

                        Comment

                          #13
                          Originally posted by MomIcantFindmy View Post
                          ...I want to wave to all the new car drivers and shout out...it might be ugly but it is paid for!
                          You need to put that saying on your license plate! I love it!
                          May 2008 Hired 1st Attorney/Stopped paying CCs
                          May 21, 2009 Retained 2nd Attorney
                          May 28th - Filed for Ch 7 (FINALLY!)
                          9/11/09 - DISCHARGED!!!!

                          Comment

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