I have a nice car financed through GMAC that I am going to surrender when I file bk. I would love to keep it but the payment that I was able to make so easily when I worked 2 jobs is just too much for my current income.
My current plan is to save up some cash, buy a beater car to get me through the bk and go ahead and surrender the car before I file. But after reading some threads on here, I am wondering if I should hang on to the car while I file and surrender it when the bk is discharged. That would give me a few more months to save up some more money so that I could get a pretty decent car, instead of one that I will constantly worry is going to break down onme.
Is this feasible? Is GMAC known to try and lift the stay, or do they usually wait until the discharge to recover the vehicle?
My current plan is to save up some cash, buy a beater car to get me through the bk and go ahead and surrender the car before I file. But after reading some threads on here, I am wondering if I should hang on to the car while I file and surrender it when the bk is discharged. That would give me a few more months to save up some more money so that I could get a pretty decent car, instead of one that I will constantly worry is going to break down onme.
Is this feasible? Is GMAC known to try and lift the stay, or do they usually wait until the discharge to recover the vehicle?
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