Cars Kept in a Bankruptcy

[CantPayDBills]

Hello all,
I am new to the forums, and just looking for some advice. My bankruptcy was filed in the Spring of 2004 and discharged in the Fall of 2004 (Old Laws). The first question is regarding a car that was purchased and no reaffirmation agreement was signed. The bankruptcy was then discharged and they never came looking for the car. Now all of a sudden, a private investigator has started calling looking for the car. To my understanding there is not legally anything they can do, but this is more or less scare tactics? Just looking for opinions, or maybe a solid answer. I was under the impression that in the state of GA possession was 80% of ownership. Second question is regarding my wifes car. We leased her vehicle, it was included in the bankruptcy with no reaffirmation signed. All payments have been made on time. Since this was included in the bankruptcy and I didnt sign a reaffirmation, could I simply just return this vehicle to the dealer and stop making payments? It would seem that I could and that nothing derogatory could be put on my credit file as this item was already "included in banruptcy". Thanks in advance for any help!!!!

[SinkingFast]

If you filed BK, and did not reaffirm, you can keep a car for as long as you want, and as long as you stay current on the payments.

If the engine blows or you just don't want the car any more, you can arrange to turn it over to the Lender. You can call the Lender, tell them you want to return it and agree where and when the property transfer will occur. Just be sure you get documentation at the time as a CYA for yourself.

The other vehicle,............. Have you kept it all this time and not made payments?? If you haven't made payments, the Lender is most certainly entitled to get their property back. The investigator sniffing around is no scare tactic. It's the Lender's right to retrieve their property.

I would think, and hopefully someone else will know for sure, that a Statute of Limitations would probably apply. The shortest SOL I've seen posted on the Forum is 2 years. Probably why you're seeing the investigator now. The clock didn't start ticking for the Lender on getting the car back until the automatic stay of your BK was lifted. Discharged Fall '04, could be the Lender is well within the SOL to get the car back.

[poorme]

I live in Georgia and went through a similar problem recently, only I didn't have the investigator calling looking for the car.

My bk was discharged without a reaffirmation, except I wasn't making payments (because my lawyer was supposedly working out the reaffirm with the lender). My discharge was on March 1. On March 8th, my car disappeared.

You should speak DIRECTLY to your lender regarding what's going on and confirm their intent. What they CAN legally do is take your (actually 'their') car. This stuff about keeping the car if you are making payments is only as good as the lender's agreement and understanding with you. Technically, they can't pursue you for the loan balance, nor can they negotiate a settlement. Repo's are expensive to them, they may just be trying to determine if the car is wrecked or in good condition. Are you current with the payments?

[CantPayDBills]

No the Payments are not current.... The car was purchased Dec 02 under a zero payment zero interest for a year program. The first payment was due Jan 04 which was never made. So I have had a car approaching 4 years and never made a payment. The car is not in an area where it could be taken and I do not currently drive it. I was just curious as to others insight on this.

[poorme]

It sounds like they are looking for the car in order to evaluate its condition, then make a decision based on that. You must have it well hidden, but they will eventually find it if it's being licensed anywhere.

[SinkingFast]

It sounds like they are looking for the car in order to evaluate its condition, then make a decision based on that. You must have it well hidden, but they will eventually find it if it's being licensed anywhere.

With a VIN, they can check on title and registration anywhere in the US. So finding the car, if anyone is driving it, and it's being licensed won't be a problem at all.

We ran VIN's thru CarFax when we were searching for vehicles for our kids. You can learn all kinds of interesting history on a vehicle that way. If the regular public can find that kind of info, imagine what an investigator could learn.

[edwards2]

You have had a car for 4 years and never made a payment? Wow...that is unreal.

[CantPayDBills]

Hey, yea the car is still tagged in my state but is located elsewhere! ???????? About the only thing I cant do with it is change the state its registered in....I dont think there is anything that can be done at this point I was just curious.....If anyone has a similar situation, or has any info it would be much appreciated....Thanks for all the responses!!!!!!!!!!!!

[poorme]

Yep! That's what I wuz thinkin - 4 yrs free ride...now THAT takes some work!