Can I Give My Van Back

[sdr66]

I filed Ch7 in Sept 07 and a 97 Van was included (loan with Wells Fargo). The van was never intended to be mine after BK. I wanted Wells Fargo to take it back all along. Discharged in January 08. We owe $2100 on the van and they will not take less than $1500 to give me the title. The van is worth $200. Junk yard will not touch it without a title. Can I do a "reverse" repo? Wells Fargo says I can't do it. They say since I am the registered owner, they will call the cops and have it towed at my expence if I drop it off at a local Wells Fargo.

[dragonnfly]

Did you continue making the payments? Did you reaffirm on the van?

[sdr66]

van

I have not made a payment on the van in 2 years and we did not reafirm in the BK. I find it hard to believe I can't just give it back.

[dragonnfly]

I thought if you didn't continue making payment and you didn't reaffirm you could walk away from it. I cant believe they haven't came and picked it up if you haven't made a payment for that long. In a sense you have walked away from it already. Call and talk directly to their BK department. You can walk away all you want if they wont come and get it I dont know what to tell you. Typically when you quit making payments on a secured loan they come and get the item.

[MomIcantFindmy]

Since you BK'd the van why don't you request the title and see if they come get the van then?

[sdr66]

I have called them and talked to them 6 or 7 times (BK department at Wells Fargo). Heck, I event have a BK case worker at Wells Fargo. They rejected my offer of $50 to buy the title. They countered with $1500. I am sooo close to just taking it in to a Wells Fargo and handing them the keys. The only reason I don't is that threat of more costs to me. One customer service rep from Wells Fargo even slipped up and said in a phone call that they would have to accept it if I dropped it off.

[epiphany]

This doesn't sound right...... but if what you say is accurate and this Van was included in your BK and they won't come and get it.....then can you just park it (assuming you have room) in your garage...really, if they won't come get it, it's not your problem anymore. Send them a certified letter telling them when and where they can pick it up.

But it really sounds like something else is up with your situation...is there something you're not telling us?

ep

[Cali]

Epi, I am feeling the same way you are. The whole post seems odd.

[sdr66]

No. It's the truth. I had three cars at the start of the BK process and I only wanted to keep two. The van I always thought WF would just come and repo. Even my lawyer said they would. But now WF thinks the van is not worth their time to deal with and not worth their cost to deal with. So they said if I gave it back to them they have to invest money to get rid of it. They said I should pay the money ($1500) to buy the title or I have to hold on to it forever. I think the van is worth about $200 and so does WF. I am guessing there is a flood of people like me going through the BK process and looking to get rid of useless cars. WF is just shutting down so they don't have to deal with worthless cars.

[Cali]

If you IIBK the van, then the van is their problem not yours. In the 2 years of not paying, they never contacted you about getting the van?

[sdr66]

This is a probelm because its been sitting in my driveway for about 6 months. I am sick of looking at it. Its not safe to drive.

[sdr66]

never

[sdr66]

The first year of non payment was trying to get them to settle on a price to buy the title. That was before we finally decided to BK

[sdr66]

What is IIBK?

[cleo1357]

Sounds like they don't want to spend the $400 to repo a $200 van. That's about what it costs at the credit union that I work at to have the car repo'd and cleaned up. Even if you dropped the car off to them, the transport fees and such would be more than they want to pay.