Why hasn't the bank picked up my car yet?

[StewieGriffin42]

I have a car that I was making payments on. I was going to reaffirm with the bank but they indicated that the car was collateral for some other loans that I had and I had to reaffirm all to keep the car. I told them to piss up lampost (ok I didn't really say that exactly) if I could not re affirm the car only. So they sent me a letter saying car would be repoed on 45th day of filing if I did not reaffirm.

Well they did not pick it up, and now it has been about 3 weeks since I have been discharged. No further contact from the bank at all for like 2 months.

Now I don't really care if the car is just sitting there on the street. But I am just curious why they haven't done anything. It's a Corvette so somewhat valuable. Maybe they are waiting for gas prices to go down before repoing and selling to get a better deal?

[aa06a47]

My question, did you actually have loans with the bank that used the car as collateral? Sounds like they were trying to strong arm you into reafirrming other debts. I would call them and ask them when they would like to pick it up. Wake them a little, tell them you no longer desire to carry insurance on there car, so they best insure it since your leaving it on the street with the keys in it and taking the license plates off it.

[StewieGriffin42]

My question, did you actually have loans with the bank that used the car as collateral? Sounds like they were trying to strong arm you into reafirrming other debts. I would call them and ask them when they would like to pick it up. Wake them a little, tell them you no longer desire to carry insurance on there car, so they best insure it since your leaving it on the street with the keys in it and taking the license plates off it.

I had the car loan and 2 other personal loans. I was going to reaffirm the car loan but the bank said the car was security for the other 2 personal loans and I would have to reaffirm all 3 to keep the car. I was like yeah right. evidently there was a little portion in my car loan agreement that said the car was security for that debt and "any future loans".

The car actually IS sitting on the street with no plates or insurance.

I won't call them though. It's not my problem as far as I am concerned. They can come get it if they want it. But I can't for the life of me figure out why they have not been more proactive. I notice on my credit report they listed the other 2 loans as a charge off but the car loan is still showing past due.

It's too bad, I would have liked to keep the car and would have made the payments, but they got greedy and I think they are going to take a loss on a 15mpg car.

[aa06a47]

I had the car loan and 2 other personal loans. I was going to reaffirm the car loan but the bank said the car was security for the other 2 personal loans and I would have to reaffirm all 3 to keep the car. I was like yeah right. evidently there was a little portion in my car loan agreement that said the car was security for that debt and "any future loans".

The car actually IS sitting on the street with no plates or insurance.

I won't call them though. It's not my problem as far as I am concerned. They can come get it if they want it. But I can't for the life of me figure out why they have not been more proactive. I notice on my credit report they listed the other 2 loans as a charge off but the car loan is still showing past due.

It's too bad, I would have liked to keep the car and would have made the payments, but they got greedy and I think they are going to take a loss on a 15mpg car.

If it is a vett in good shape, they at least have something people want, no matter 15 MPG or not. They would definatly have gotten more by letting you reafirm the debt vs taking it back. There greed in wanting a reafirm all or nothing...well, deserve to lose money.

[SinkingFast]

Why don't you call them up and arrange to drop it off at the nearest Chevy Dealership. Then, when you turn it in, get a signed receipt for the car showing you turned it over to their representative.

I don't get why they aren't after the car either. Son's car is an old Camaro. We got lucky and the sales person at the Dealership was a friend of ours. She knew we were looking and called us the minute it came in. She even hid it out back of the dealership so other people wouldn't see it. We got first dibs and decided to buy it. They had other people come by that offered to pay an extra $2K and even more than what we paid for the car.

I'd think a 'vette would be the same way. They couldn't swat the buyers away with a stick!

[Minnymouth]

In order to CYA send them a certified letter stating that the vehicle is parked in front of your home, no tags, no insurance, and that you will no longer be responsible for the auto since it was discharged in the bankruptcy (make sure that it was)..... tell them to come and get it.

If the vehicle is stolen while still in your possession, you can be held liable for it.....

Same principal if you are surrendering a home and it is damaged while in your possession..... you are responsible for damages if you drop the insurance.....

Minny

[StewieGriffin42]

Well there is a sticker on my car saying the city is going to pick it up if it is not moved because it does not have a tag. Maybe I should just let them pick it up and let the bank worry about it.