Didn't reaffirm my car, yet I'm still making payments...

[Debbie2]

Last month HSBC accepted my payment even though I did not reaffirm. It's been 1 week and 2 days, yet they haven't deposited the check...

Should I be prepared to get another car or what? I've never been late nor skipped payments since I've had my car in 3 years

Can they just come get my car or do they have to wait until I am discharged?

Any suggestions / advice will be greatly appreciated...

[Debbie2]

CORRECTION PLEASE!



Sorry...On last month HSBC accepted my check for payment...This month I sent them my check for my car payment, yet they haven't deposited/acceped it... Why?

[magyar123]

CORRECTION PLEASE!



Sorry...On last month HSBC accepted my check for payment...This month I sent them my check for my car payment, yet they haven't deposited/acceped it... Why?

Could be lost in the mail. Put a stop payment on that check, and send them another one - CMRRR.

[Intoodeep80]

Im confused. Are you surrendering the vehicle in your bk and still making payments on it?

[Tbornetun]

Debbie is doing what is considered a "ride through". Continue making payments to avoid repossession without signing a reaffirmation agreement with the bank. A lot of times it works if your state allows it. Sometimes idiot creditors would rather be asses and take the vehicle anyway.

[tma]

Debbie,

My husband and I filed chapter 7 February 08. We signed an affirmation to keep our car with Wells Fargo at the date of the hearing.
For almost nine months we dilligently made the payments.

Approximately 2 months ago we received a reaffirmation from an attorney for Wells Fargo that the origional affirmation was denied due to a Colorado law change at the time we went through this process.(a cover letter )was not submitted with the affirmation from WellsFargo at the time of discharge therefore the court denied it.


We have been making payments all this time and were never contacted by Wells Fargo regarding the so called "clerical error".

A hearing date was set for December 2, 2008, we could either try and fight to keep the car....however the attorney flat out told us chances of being able to keep it was very minimul due to the Colorado law change.



So my husband I decided to let it go...it was a blessing in diguise. The SUV was approx 100,000 miles and maintenence needed with $20,000 we would owe.

We called Wells Fargo to come get the car. And two weeks ago my husband purchased a much newer... fuel econiomic... low miles....afordable payments...not a horrifice interest rate to start with...car.

And we are reestablishing some kind of credit.

Sometimes things are really meant to be. I hope this makes sense and helps.

Good Luck!