When are they notified?

[Hause]

Does anyone know when the auto finance company is notified about the filling for bankruptcy? Is it immediate? or is it after the 341 meeting? Also, how do they find out if they are not on the mailing matrix?

[hmsmith]

I know mine found out as soon as my attorney filed, he has to notify all of our creditors. So in my case they found out w/in a few days of filing. But then as I understand it an automatic stay goes into effect where they can not do anything for a period of time (collect or repo your car)...i want to say 3 months but I'm not sure....I am sure others will know! I'm pretty new to all this!

[df04527]

Creditors are notified right away when filed based on who was listed. If the creditor was not on the mailing list they will typically then find out via a review of your credit report on their normal schedule. Not sure that answered your question.

[LadyInTheRed]

Why aren't they on the mailing matrix?

[Hause]

Because the car will either be reaffirmed or redeemed. Only will have about 5 more payments to go. We just didn't know if they repo'd during the automatic stay. I heard that some do.

[df04527]

All creditors you owe money to must be listed regardless.

[ValleYum]

With all due respect Hause, could you please refrain from using "text type" here? This is a forum - not an iphone. Thanks!

[Hause]

Okay. Didn't know that. Thanks for the info everyone.

[btbeme]

Oh my. Am guessing you file pro se.

If a creditor is not listed on your matrix I suggest that you get that amended, like, yesterday. I guaran-damn-tee you that the Trustee will not be happy or forgiving.

[Hause]

Haven't filed yet. I am just doing the research on everything. I have a few lawyers waiting in the wings, but may just bring them in after the 341 meeting if needed.

[SMinGA2]

All creditors get listed. Will be hard to explain to the trustee how you 'forgot' to list your car loan as a creditor yet your car payment likely is on your schedule of expenses?

Automatic stay means protection for you. Even if you are behind at filing, you are temporarily protected from collection activity and that includes repossession. If you are behind, and don't get current ASAP the creditor can file to lift the stay, but that will take a little time. Many seem to just wait for discharge once the stay expires. (Though there may be a provision with the new laws about the stay lasting for a certain # of days past the 341, I'm not sure. This is a good area to have the advice of an attorney.)

[tobee43]

Haven't filed yet. I am just doing the research on everything. I have a few lawyers waiting in the wings, but may just bring them in after the 341 meeting if needed.

as SM says ALL creditors get listed!!! everyone and their mother and their mother's mothers mother! if you end up leaving someone off the petition you are going to have to amend it and it will end up costing you more $$ at a time you don't need to be dishing it out.

it's safe to list everyone you can think of, even the smallest amounts. also make certain you have all the correct mailing addresses for your creditors as one of the provision of the bk courts is proper notification to all creditors involved. so, try to make your best effort for correct account numbers and mailing addresses.

you can continue to pay your car if you intend to keep it, or stop paying if your intention is to surrender it. either way LIST IT!

best of luck to you!

[Hause]

Rookie mistake. Just thought that the only creditors included were the ones being discharged. No problem in adding all creditors.

[Hause]

All creditors get listed. Will be hard to explain to the trustee how you 'forgot' to list your car loan as a creditor yet your car payment likely is on your schedule of expenses?

Automatic stay means protection for you. Even if you are behind at filing, you are temporarily protected from collection activity and that includes repossession. If you are behind, and don't get current ASAP the creditor can file to lift the stay, but that will take a little time. Many seem to just wait for discharge once the stay expires. (Though there may be a provision with the new laws about the stay lasting for a certain # of days past the 341, I'm not sure. This is a good area to have the advice of an attorney.)

Wouldn't catching up on car payments over 600.00 be considered preferential treatment To a specific creditor if done before the filing of a chapter 7? Is that acceptable?

[tobee43]

Rookie mistake. Just thought that the only creditors included were the ones being discharged. No problem in adding all creditors.

you are allow to list everyone. when you get your orders of discharge and close, there normally is an explanation of who and whom you do or do not have to continue paying that was listed on the petition. (it is only broken down in generalities and not specifically your individual creditors). this document usually includes a paragraph stating you can still pay whomever you would like even if they are actually "discharged".

but, i'm jumping way into your future. in the meantime i'm certain your atty will advise you the same, list them all. no rookie mistake unless you made it which you didn't.