My husband's car

[onepowerfullady]

I have a question, When we filed a conversion to a chapter 7, the car company that finances both our cars immediately asked that they stay be lifted from my 2004 Chevy Impala. I in turn voluntarily surrendered the vehicle to them before they went to court with it. Now, my husband still has his car, but they never sent in an order for the stay to be lifted from his vehicle as well. When I looked on my credit report they have listed on his vehicle "included in BK" with a 0.00 balance. I don't understand why they asked for my car back and not his? I have heard some rumors that because the car is almost paid off and its not worth a hill of beans then they may not waste their time with it. I live in the state of Mississippi. I am sure that some of you know how backwards this place can be. LOL!

[FilingOnMyOwn]

I am sure that some of you know how backwards this place can be. LOL!

I think you've got it all figured out

[SinkingFast]

The general rule of thumb for Used cars being sold by the big dealerships is less than 5 years old with less than 100K miles on them. The fewer miles the better. Many Banks have the same rule for lending on used cars as well.

You probably answered your own question. Your car is newer, much more attractive to a potential buyer. Probably why the lender wanted it back. Getting something quick sale is much better than the nothing they'd get thru BK.

[onepowerfullady]

Thanks a lot Sinking. I had heard someone say that the BK courts here in MS would not allow the bank to take both of our cars and leave us totally without transportation either.