Car Question

[Maquitagirl]

I am not keeping my car after I file. My car payments have always been on time and are directly withdrawn from my account on the 15th of every month.

I am filing July 1st so I know they will not directly withdraw my car payment on July 15th hopefully.

Do you think I should call the bank and have them stop the direct withdraw payments now and that way I wouldn't have to pay the June 15th payment. Do I have to give them a reason why I want the direct withdrawls stopped without telling them that I plan on declaring bankruptcy.

[keepinitreal]

Yes, you need to tell the bank to stop the automatic withdrawals.

I did this with my mortgage. First I called the bank and told them I changed my mind and no longer wanted my payments automatically deducted from my checking account. Then I followed up with a letter to the bank saying the same thing.

Do this as soon as possible, so if they don't have time to stop it in June they'll definitely have stopped it by July 15.

[Maquitagirl]

Thanks for your help.

Do you know will they consider that fraud? That I tell them I don't want it directly withdrawn anymore as I will mail in my payments and then not pay them that month.

I'm just scared when I go to call them, they will ask well why do you want to stop the direct withdrawals since you have had it for the last 4 years.

[keepinitreal]

Thanks for your help.

Do you know will they consider that fraud? That I tell them I don't want it directly withdrawn anymore as I will mail in my payments and then not pay them that month.

I'm just scared when I go to call them, they will ask well why do you want to stop the direct withdrawals since you have had it for the last 4 years.

No, it's not fraud. They should be thankful that they won't be accidentally taking a car payment from you after you filed bankruptcy and stated you were surrendering the car. That has happened to other posters on this forum.

Each time they ask you why, just say you changed your mind. The loan person didn't ask me why when I told them on the phone.

[Maquitagirl]

Well I called them and they stated well we already directly withdrew the payment for May. I said I know I'm just not wanting Junes to be directly withdrawn. He said okay I will stop the withdrawals.
For some reason I feel bad. I felt bad when I quit paying the credit cards too and now I'm not paying for the car either.
Oh well the 400 payment will come in handy for repairs to my other vehicle that I own and I can start saving some for a car later on.