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Need HELP with a Reaf / Chase Auto Finance

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    #1

    Need HELP with a Reaf / Chase Auto Finance

    Hello Gang....

    I need some opinions on Chase Auto Finance

    1. Anyone ever deal with them and not reaffirm a vehicle? (Basically do a ride through)

    2. Did they allow a ride through?

    3. Anyone ever do a ride through with any bank, stay current on payments and the bank still pick the car up?

    I'm searching for a back up plan just in case chase picks the car up after my discharge. I heard that it is still likely the bank will pick up the car even though I may be current.

    Please advise

    Dollar Bill
    Tags: None
    #2
    Some lenders are still allowing the Ride Through. I don't know about Chase though. Anyways, what I wanted to point out is that if you do the Ride Through, the lender can ask for the vehicle (repo), but I would believe to be highly unlikely since your continuing to pay the loan. The lender is not interested in your, then and having to sell it and incurring all of the the costs that go along with that. They are more interested in receiving the money......so.......my guess is that if you stay current, you shouldn't have to worry about possible repossession.
    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

      #3
      We also use Chase Auto Finance and are planning on doing a ride-through. Whether or not a ride-through is allowed also depends on your state's repo laws. For example, here in MA, state law dictates that as long as you remain current, the lender cannot repo your car, regardless of whether or not you reaffirm.

      Your lawyer can probably best answer the question for how things are handled in your area
      Filed Ch 7 - 07/10/08
      341 Meeting - 08/13/08
      DISCHARGED! - 10/15/08
      CLOSED - 10/20/08

      Comment

        #4
        Bassboy and Laurannm thanks for your replies. I will try to find out about the laws here in CA.

        I generally don't worry much, but I just don't want to wake up and find the car gone.

        Thanks Again

        Comment

          #5
          No problem

          Found this article that applies to So. California anyways


          http://www.************************/...rn-california/
          Filed Ch 7 - 07/10/08
          341 Meeting - 08/13/08
          DISCHARGED! - 10/15/08
          CLOSED - 10/20/08

          Comment

            #6
            Originally posted by laurannm View Post
            No problem

            Found this article that applies to So. California anyways


            http://www.************************/...rn-california/
            Thanks Laurannm! Very informative...
            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!!!!

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