What can I do?

[Hopefull1983]

So I'm filing my BK7 very soon. I'm basically including all the debt I have into it except for a small student loan I owe and a motorcycle that is my primary transportation.

The problem I'm having is that I owe $3800 on the bike and am past due on the loan. I'm currently making payments of $150/month, but I'm still getting hit with a $39 late fee each month and a huge 21% interest rate.

I've called HSBC and tried to work things out with them and all they tell me to do is sell the bike.

What should I do since I need this bike to get around, but am in a vicious high interest/late charge payment cycle?

[GreenInkOnPaper]

Will they allow you a deferment - to take one payment and put it at the end of the loan?

[keepmine]

Have you stopped paying all debt you wish to discharge? If not, do so and use that money for the bike.
If you have stopped paying cc's etc. aand are having trouble making ends meet then, your problem isn't debt but, lack of income. You need to address that now. After all, you have to support yourself post bk.

[justbroke]

HSBC Auto Finance is good about deferred payments. They allow one, without much pain. You just have to talk to the RIGHT DEPARTMENT. Don't take the word of the "regular" representative you call on the 800 number. Trust me, been there, done that!

[Hopefull1983]

HSBC Auto Finance is good about deferred payments. They allow one, without much pain. You just have to talk to the RIGHT DEPARTMENT. Don't take the word of the "regular" representative you call on the 800 number. Trust me, been there, done that!

I called the collections department and they are not giving me any options. I asked about deffering a payment and they said no. I'm no longer paying my debt I'll be including in the BK, but I'm still playing catch up on a few things and can't afford to pay the additional due on the bike loan.

[justbroke]

I called the collections department and they are not giving me any options. I asked about deffering a payment and they said no. I'm no longer paying my debt I'll be including in the BK, but I'm still playing catch up on a few things and can't afford to pay the additional due on the bike loan.

I don't think you can defer a payment with HSBC unless you're current. I know, doesn't make sense, but that's how they work.

[GreenInkOnPaper]

I don't think you can defer a payment with HSBC unless you're current. I know, doesn't make sense, but that's how they work.

And Capital One is just the opposite: You have to be at least 1 day past due. Go figure!!!

[JRScott]

Do you have a friend or relative who could 'gift' you the amount to catch up?

[Hopefull1983]

Do you have a friend or relative who could 'gift' you the amount to catch up?

I think I might have to go that route.