Need help ASAP! Failed Means test

[Freddy03]

Congrats!
Most of those places dont care if you file, and even if you do, as long as you continue to pay them you are good.

Thanks!
I wonder will this work just like my regular car payment? I'm guessing I will have to reaffirm this loan because I need to keep the car. I had to leave him 12 months of post dated checks for payments. He did give me a list of scheduled payments for my records.

[Pandora]

I had to leave him 12 months of post dated checks for payments. He did give me a list of scheduled payments for my records.

What?! You left post dated checks? Good god - there is no way in hell I would leave my checks with anyone; post dated or otherwise. Banks dont care any longer if they're post-dated, I've had them cash the checks regardless of the date - and regardless of if there was a signature on them. Was told thats because everything goes through electronically now....

I havent any experience with title loans, but that would've been a huge red flag for me. Is that normal procedure in most places?

[IamOld]

Sadly, Pandora, that is how these sort of outfits work. They're "honest" in the sense that he's not going to deposit them before he's supposed to....but if you bounce one...and don't come up with the cash pronto...they will come and get the car.

What?! You left post dated checks? Good god - there is no way in hell I would leave my checks with anyone; post dated or otherwise. Banks dont care any longer if they're post-dated, I've had them cash the checks regardless of the date - and regardless of if there was a signature on them. Was told thats because everything goes through electronically now....

I havent any experience with title loans, but that would've been a huge red flag for me. Is that normal procedure in most places?

[Pandora]

OMG thats horrible.....and seems close to extortion at its best. What happens when she files BK then? Do they immediately cash all the checks?

[Freddy03]

What?! You left post dated checks? Good god - there is no way in hell I would leave my checks with anyone; post dated or otherwise. Banks dont care any longer if they're post-dated, I've had them cash the checks regardless of the date - and regardless of if there was a signature on them. Was told thats because everything goes through electronically now....

I havent any experience with title loans, but that would've been a huge red flag for me. Is that normal procedure in most places?

I know I didn't want to but that's the only way they did it there. I really had no other choice. I did write the checks from my credit union that I don't keep much money in. If I have to I can close the acct any time.

I was denied by 5 other places due to credit history. My attorney said I can pay this off 60 days after I file. So that's what I plan on doing.

[IamOld]

I know I didn't want to but that's the only way they did it there. I really had no other choice. I did write the checks from my credit union that I don't keep much money in. If I have too I can close the acct any time.

I was denied by 5 other places due to credit history. My attorney said I can pay this off 60 days after I file. So that's what I plan on doing.

Freddy that sounds like a plan. And NO they cannot cash all the checks, because that would be a violation of the stay. In my most humble opinion, you just keep paying them (until you pay them off) like any other car loan for a car that you were keeping thru BK.

[IamOld]

OMG thats horrible.....and seems close to extortion at its best. What happens when she files BK then? Do they immediately cash all the checks?

They are horrible...but sometimes one has no choice...and don't think they can do anything, as the stay would prevent them from doing anything, and Freddy just keeps paying like any other loan...OR I think in this instance, tells them to go ahead and deposit check #1 (or #2) depending on timing...

[Freddy03]

I was really scared at first b/c it was a hole in the wall type of place in a bad part of town but it was really my last option.

I have read the loan contracts over and over and it doesn't state anything about BK. I'll have my attorney look at it on Thursday also. I will reaffirm it to keep the car.

[IamOld]

I was really scared at first b/c it was a hole in the wall type of place in a bad part of town but it was really my last option.

I have read the loan contracts over and over and it doesn't state anything about BK. I'll have my attorney look at it on Thursday also. I will reaffirm it to keep the car.

Freddy, I think you'll be fine. Yes, they're crooks, and crooked, but no more so than the banksters. At least with these guys you know what/who you are dealing with. I know you're nervous (and this is coming from THE nervous wreck) but this will work, and work out fine!!!!!! These guys too want your $$ not your car.

[Freddy03]

Freddy, I think you'll be fine. Yes, they're crooks, and crooked, but no more so than the banksters. At least with these guys you know what/who you are dealing with. I know you're nervous (and this is coming from THE nervous wreck) but this will work, and work out fine!!!!!! These guys too want your $$ not your car.

LOL I don't know about that. He did take the car for a test drive and made sure everything worked.

I'm just going to pay it off as soon as my attorney says it's ok.

[IamOld]

LOL I don't know about that. He did take the car for a test drive and made sure everything worked.

I'm just going to pay it off as soon as my attorney says it's ok.

:-) He may have a buyer for all of these things somewhere tropical :-)

[Pandora]

Freddy

Fingers, eyes, toes and legs crossed for you hun. I can only imagine how scary that must've been for you to do ... I know I would've been giving him the once over if he asked me to leave my chks with him

Whatever happened to them putting one of those devices in your car that shuts it down if you dont pay? I honestly havent a clue how these things work, but I did watch something about it on 20/20 or Dateline (hence how I learned about that device) - which still seems unethical at the very least....and should be illegal as well.

But what do I know..

[Freddy03]

Now I'm freaked out...lol

He was really nice and said if I ever need a few more days to pay just call and keep him in the know.

I just called the tag place and the lien hasn't been placed yet. I'm going to call him.

[tobee43]

freddy!! sorry i'm sooooooooo late to give you my best on this terrible situation!! YOU ARE DOING IT!!!!!

it will work out! yeap, call him!

[Freddy03]

freddy!! sorry i'm sooooooooo late to give you my best on this terrible situation!! YOU ARE DOING IT!!!!!

it will work out! yeap, call him!

Thanks! I called and the owner wasn't there but the person who answered the phone said the lien will def be put on to give it a couple of days.

I won't be filing till the 13th anyway.