Repo before filing???

[okiebk09]

So we got a call today from the bank our truck loan is with and she basically said where is the truck? all they wanted was a location? We cannot file for another 41 days. How does that take place and what to do when it is repoed before the filing? Do they have enough time for a judgement against us? We cannot afford the truck anymore and we are including it in the filing. We are about 100 days past due.

[dogbone33]

They took ours last week! We are filing Friday. We were going to surrender it anyhow. We were only 2 months behind!

[okiebk09]

well i knew this was coming. i just did not think it would actually happen. my husband is a car salesman so if the auto makers are bankrupt think of the salesmen also. we are hoping he can drive a demo temporarily when they take it but he may not be able to. i was just mortified when they called me at work of all things. oh well. 40 days and counting. my worry is whether or not they can get a judgement in that timing.

[Nicollette]

well i knew this was coming. i just did not think it would actually happen. my husband is a car salesman so if the auto makers are bankrupt think of the salesmen also. we are hoping he can drive a demo temporarily when they take it but he may not be able to. i was just mortified when they called me at work of all things. oh well. 40 days and counting. my worry is whether or not they can get a judgement in that timing.

I'm not sure how long it will take to get a judgement, but if they do, you can include the judgement in your BK.

[okiemom2008]

well i knew this was coming. i just did not think it would actually happen. my husband is a car salesman so if the auto makers are bankrupt think of the salesmen also. we are hoping he can drive a demo temporarily when they take it but he may not be able to. i was just mortified when they called me at work of all things. oh well. 40 days and counting. my worry is whether or not they can get a judgement in that timing.

Good question, I was wondering the same thing. How late were you?

[okiebk09]

i know i can include the judgement i just do not want to be bothered at my work. i don't want people serving me papers or calling me at work about this stuff. i just checked my records and the last time we made a payment was oct 16th. that was for the payment that was due sept 5th. so we were 40 days late on that payment but have not made payment for the oct, nov or dec payment. so we are behind 3 payments but only 70 days i guess if that makes sense.

[Grider]

if you file is there NOT a "stay" someone please clarify,, if you are surrendering the car. when do you give it back, or when do they come and take it? after you actually file? after discharge? anyone?

[okiebk09]

my understanding is there is a stay whenyou file and they cannot come get it unless they file a relief of stay with the courts. however we cannot even file until jan 26th

[TEW]

if you file is there NOT a "stay" someone please clarify,, if you are surrendering the car. when do you give it back, or when do they come and take it? after you actually file? after discharge? anyone?

The automatic stay happens when you file. No creditor can make an effort to collect the debt including repossessing a car or asset. The creditor can and will file a motion for relief if stay and repo the car.

[okiebk09]

right that is what i thought but we have not even filed yet. 40 days and counting i think. they are already calling wanting the location which is fine i guess. all i know is that i have learned my lesson already through this and i never want to buy on credit again. i cannot believe how stupid we have been.

[TEW]

right that is what i thought but we have not even filed yet. 40 days and counting i think. they are already calling wanting the location which is fine i guess. all i know is that i have learned my lesson already through this and i never want to buy on credit again. i cannot believe how stupid we have been.

It happens to the best of us.
you can call the bank and tell them to come get it.