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making sure we are doing the right thing

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    #1

    making sure we are doing the right thing

    We have one vehicle, we are retaining our lawyer in 2 weeks and filing at mid January. We are not keeping the vehicle as it has 600.00 payments. I am late on my Nov9 and Dec9 payments. It is with Chrysler Financial. They call me atleast 20 times daily from 8am to 9pm. I finally made arrangements with the to skip my November payment and just pay the December one. That will keep me current until Jan. 9 and then we will be filing probably the 15th.

    After we file we will be 5 or so days late on our payment. Can they still repo our car if we have filed or do they have to wait and see if we are doing a 722 or reaffirmation? Basically how long can we keep the car until we have to give it up

    I am calling to pay them today. It is a 710.00 payment so I wanted to make sure I am doing the right thing before I just give them that much money. It is our only car so we have to have it to get to work and get around. We are doing this for many reason, one being that we just do not have any cash to buy another car and the other being that we do not want a repo on our report. I realize bk is worse than a repo but we would both rather pay than get a repo.

    Thanks
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    #2
    anyone?

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      #3
      I don't understand. You say you are not keeping the car and plan on filing in the middle of Jan. Why would you pay on a car that you are not going to keep? They have to go thru procedures before they just come and take it. ALso, you state you do not want a repo on your credit report. You are lettingthe car go in the BK right? I wouldn't pay anything. You are throwing your money away...

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        #4
        Originally posted by jessegirl View Post
        I don't understand. You say you are not keeping the car and plan on filing in the middle of Jan. Why would you pay on a car that you are not going to keep? They have to go thru procedures before they just come and take it. ALso, you state you do not want a repo on your credit report. You are lettingthe car go in the BK right? I wouldn't pay anything. You are throwing your money away...
        We definetly are not keeping it. But for right now it is our only car. The reason we are paying is so they do not repo it. Since we are 2 months late it seems they can come get it anytime they want. We have no family here so if we lose our car we cannot get to work.
        And we were hoping that since we will only be 5 days lte on it when we file in January we will be able to keep it without making payments until the 341 meeting. Not sure if that is how it works...

        Also we are letting it go in the bk but since we will be 3 months late at the time of filing they will probably repo it and then we have a repo and bk
        Last edited by okiemom2008; 12-11-2008, 11:54 AM.

        Comment

          #5
          Originally posted by jessegirl View Post
          I don't understand. You say you are not keeping the car and plan on filing in the middle of Jan. Why would you pay on a car that you are not going to keep? They have to go thru procedures before they just come and take it. ALso, you state you do not want a repo on your credit report. You are lettingthe car go in the BK right? I wouldn't pay anything. You are throwing your money away...
          What kind of proceedings do they have to go through? It is just hard because I do not know what to do and realize that this being our only vehicle is making it difficult. I feel like I am going insane over this

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            #6
            well we have a car loan with FMC. We were 2 months behind and made a payment in Nove which kept us ok until Dec 18th. Not sure what we will do after that because we cannot afford to pay for this car. we are going to have to give it back in the BK and have no money to buy another one later. Not sure what we will do. If you are filing in January as I am then I would not pay. You need to start talking to those Tote the Note places and find out if they lend to people who are in the process of BK. That is what we are going to have to do.
            Filed Jan 23rd, 2009
            341 meeting--February 24th--Went smooth
            :yahoo::yahoo:
            Discharged may 12th--had to call the court clerk!!:clapping::yahoo::yahoo::

            Comment

              #7
              Looks like the Okies are taking over!

              Comment

                #8
                Originally posted by okiebk09 View Post
                well we have a car loan with FMC. We were 2 months behind and made a payment in Nove which kept us ok until Dec 18th. Not sure what we will do after that because we cannot afford to pay for this car. we are going to have to give it back in the BK and have no money to buy another one later. Not sure what we will do. If you are filing in January as I am then I would not pay. You need to start talking to those Tote the Note places and find out if they lend to people who are in the process of BK. That is what we are going to have to do.
                Well we paid it. So we are ok until Jan 9th and then I guess they can start the repo process. I know this may sound crazy but paying 710 is almost worth not getting the twenty(atlest) phone calls a day on our phones. It is like they automated it to call us every 30 minutes. I can atleast relax now until then. My husband wanted to just not pay and pay the retainer so the lawyer could tell them we are filing but I have read that if the lawyer tells them we are filing, not have filed..they will repo it.

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                  #9
                  Originally posted by okiebk09 View Post
                  well we have a car loan with FMC. We were 2 months behind and made a payment in Nove which kept us ok until Dec 18th. Not sure what we will do after that because we cannot afford to pay for this car. we are going to have to give it back in the BK and have no money to buy another one later. Not sure what we will do. If you are filing in January as I am then I would not pay. You need to start talking to those Tote the Note places and find out if they lend to people who are in the process of BK. That is what we are going to have to do.
                  what is tote the note?

                  Comment

                    #10
                    that is what we did in nov just to get them off our back for awhile although now i wish i had paid the attorney instead!! oh well.
                    Filed Jan 23rd, 2009
                    341 meeting--February 24th--Went smooth
                    :yahoo::yahoo:
                    Discharged may 12th--had to call the court clerk!!:clapping::yahoo::yahoo::

                    Comment

                      #11
                      That is the little dealerships(car lots) that you see around that say "buy here pay here". I could probably name some but I am not sure where you are in the state.
                      Filed Jan 23rd, 2009
                      341 meeting--February 24th--Went smooth
                      :yahoo::yahoo:
                      Discharged may 12th--had to call the court clerk!!:clapping::yahoo::yahoo::

                      Comment

                        #12
                        You have to do what gives you peace of mind.

                        Comment

                          #13
                          Originally posted by okiebk09 View Post
                          That is the little dealerships(car lots) that you see around that say "buy here pay here". I could probably name some but I am not sure where you are in the state.

                          I am not sure if we could do that because we only can have 2 crs under the exemption. We have a tool truck that is worth 10k that we have the title to and then the durango that we are letting go. I thought about going to a dealership before we file to see if we could possibly finance a 8000 vehicle and then keep it after the bk but our credit is going downhill so fast. We had 750's now 630's

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