how exactly do I surrender my car?

[downsized]

I see a lot about it but not much about the surrender process. We've decided and informed our atty that we'd like to surrender one of our cars and try to cram down the loan on the other. He told us how the cram down will work and said to stop paying on one we want to surrender. Now I'm wondering exactly what I'm supposed to do here with the car we don't want? I already paid the payment due April 24th thinking we would try to keep both cars, so the loan is current until then. What do I do after the 24th? Am I supposed to call GMAC and tell them? Just wait until I wake up one morning to an empty driveway? Take it to the dealership? And how do I get the proof that I actually did surrender the car? Does a repo guy leave a receipt, lol? Or does the dealership have paperwork for surrendering cars? Not sure it matters, but we are seeing the atty for our "filing appt" on the 29th, so we'll be officially filed shortly thereafter. TIA!

[StartingOver08]

Surrender the car after you file. Your attorney will mark which vehicle is to be surrendered in your petition on your Statement of Intentions. You can then make arrangements directly with the lender to surrender either during your automatic stay or after your discharge, if you are filing a Ch 7.

[AngelinaCatHub]

First, don’t worry too much at this time. Are both cars financed at the same place?

The actual surrendering is simple. They don’t usually want you to drop them off at any dealer. The dealer is not part of the process. After talking to the bk person at your lender, tell them you are surrendering the car and how THEY wish to handle this. Usually they will inform you of the day a roll back will come to you. Give the man the keys, take pictures of the car inside and out, and he WILL give you a receipt. You will later get a letter and then the car will be sold at auction. You will be billed for the deficiency in which your bk will wipe out. It is a simple operation. ‘Hub

P.S. drive it free until the sparks fly.

[downsized]

We're filing 7 and both loans are with GMAC.

I'll likely start getting collection calls on it around the time we file, so I just tell them we're filing BK and surrendering the car and they'll tell me when they'll be coming along to pick it up? Ok. Sounds simple enough. Thanks!

[Confused33]

I was current when I filed with GMAC. I called them and told them that I was not interested in keeping it and they scheduled a man to come get it. I chose the time, date, everything. The guy called me, kept me in the loop, and then GMAC sent me a letter offering the truck back this month. I was discharged on the 7th.

I LOL'd.

This is not as hard or as scary as you're making it. They will make it easy I promise. Just be friendly and they'll be nice. They hear it far more often than you think.

[kenshirley]

We had a motor home we could no longer pay for.
We just drove it to a branch of the bank that had the contract and went in a gave them the keys.
They did not want to take it. I gave them no choice in the matter.
I told them we had to file BK and it was better this way for both parties.

[marinah]

We were just discharged and let our auto lender know right before discharge that we will be surrendering it...

We just found a new (used) car to replace it and are picking it up today. We have not yet heard from the lender about coming to pick up the surrendered car.

However, it would be nice to have two cars for a while. Is there any danger/harm to my NOT calling the lender about the surrender date, and just continuing to drive the old car until they call us to come pick it up?

[marinah]

sorry, duplicate posting

[ironpirate]

Bumping old thread but, I just filed on the 12th and told GMAC on the 12th that I filed and ask the collector on the phone about surrendering the vehicle. He said it was a process. So I guess I will drive the wheels off it until they decide to get it. Do they usually get it after the discharge or before?

[downsized]

Bumping old thread but, I just filed on the 12th and told GMAC on the 12th that I filed and ask the collector on the phone about surrendering the vehicle. He said it was a process. So I guess I will drive the wheels off it until they decide to get it. Do they usually get it after the discharge or before?

We got a letter in the mail a week or so after our discharge. It requested that we contact them regarding the vehicle we were surrendering. We called and asked if we could take it to a local dealership to avoid the neighbors looking on ifa hook came and towed it away, lol. They said that was fine and asked when. We took it a few days later, on the date we told them we would, and the dealer took it for us. A few weeks later, we got a letter saying the car was at some lot and we could have it back if we brought the payments up to date.

[SMinGA]

They are required to send the notice w/ info on how to get the car back, before they auction it off.

[ironpirate]

I don't have to turn the car in until after my discharge? So, I have almost 3 months with a free car(2010 Chevy Malibu)? Guess we'll be using it like a taxi until then and not use our other car, which thats what we have been doing for the past 2 months. We put over 8,000 miles on it in the past month.

[downsized]

That's right! Drive it till the sparks fly!