Long distance repo?

[jlmaca]

My chapter 7 was discharged in December of 09. I wanted to keep the car so I reaffirmed. I owe 5,500 and its worth maybe 4500. Either way I can't afford that cash amount. The bankruptcy department at the bank gave me 3 options, pay in full, monthly payments or give the car back. I now have the car 1000 miles away in a different state. I can't register it in that state because they need the title and of course the bank won't release the title until the vehicle is paid. I think normally they release a "memorandum of title" under normal circumstances so people can register vehicles in another state.... So it sure looks like I'm out of luck. What do I do with the vehicle now? Can they report it stolen?

[jlmaca]

Any ideas please!

[justbroke]

Well, let us know how this works out for you.

[jlmaca]

Well, let us know how this works out for you.

I will. Hopefully not from jail.

[justbroke]

I will. Hopefully not from jail.

LOL. Well, maybe we'll hear from you in 2 to 5. LOL

[BobMango]

I had a repo of a 5th wheel that was registered in Washington State. I called the lender and told them where they could pick it up in SoCal. No problem. If your lender is local only, they may not like that and would probably try to pass those costs on to you, but if you're filing bankruptcy you won't need to worry about that anyway.

[jlmaca]

I had a repo of a 5th wheel that was registered in Washington State. I called the lender and told them where they could pick it up in SoCal. No problem. If your lender is local only, they may not like that and would probably try to pass those costs on to you, but if you're filing bankruptcy you won't need to worry about that anyway.

I'm six months discharged chapter 7. I'm applying for credit to just buy a decent used car. I'll then call them, tell them where it is and that they can come get it. Seems rather odd that they wouldn't just make some sort of deal to let me keep it, I can't image there is much of a market for a Trailblazer gas hog with over 100k miles.

[BobMango]

I'm six months discharged chapter 7. I'm applying for credit to just buy a decent used car. I'll then call them, tell them where it is and that they can come get it. Seems rather odd that they wouldn't just make some sort of deal to let me keep it, I can't image there is much of a market for a Trailblazer gas hog with over 100k miles.

Yes, well some lenders prefer to be punitive rather than try to salvage a deal gone bad.

If you did not reaffirm you are not liable for that debt and any collection or repossession costs so I think you are good on the repo, regardless of location.

Do you really need to finance another car? Many decent vehicles can be purchased for just a few hundred dollars and will be perfectly serviceable for a year or so while you save up for a better one. It may hurt your pride to drive a junker, but isn't a car primarily designed to get you from point a to point b safely? Anything else is literally window dressing.

[jlmaca]

Yes, well some lenders prefer to be punitive rather than try to salvage a deal gone bad.

If you did not reaffirm you are not liable for that debt and any collection or repossession costs so I think you are good on the repo, regardless of location.

Do you really need to finance another car? Many decent vehicles can be purchased for just a few hundred dollars and will be perfectly serviceable for a year or so while you save up for a better one. It may hurt your pride to drive a junker, but isn't a car primarily designed to get you from point a to point b safely? Anything else is literally window dressing.

No, actually I don't have to finance a vehicle I could always get something to get me through for awhile. Anyway, I'll call them tomorrow and see how desperate they are for the vehicle. Maybe when they find out its 800 miles away they may be more amicable.

[catleg]

Call them up and ask "what's green, and rusts in the rain"? Patio furniture.

What's (color) and rusts in the rain? Your Trailblazer. Come get it. Bring lots of gas money.

But you said you reaffirmed. So you're on the hook for the loan, correct?

[NoMoreCards]

The OP says he/she reaffirmed the car. If that is true, you will regret letting it go back. They will sell it auction, getting pennies on the dollar and go after you for the rest, plus costs.

Although you are underwater a grand (according to your post), you would be better off paying that then paying the amount they bill you.

All the best.

[catleg]

Yeah, I agree with NoMoreCards here. If you don't have the money, it's going to result in a big deficiency against you. Are you sure you reaffirmed?

[jlmaca]

The OP says he/she reaffirmed the car. If that is true, you will regret letting it go back. They will sell it auction, getting pennies on the dollar and go after you for the rest, plus costs.

Although you are underwater a grand (according to your post), you would be better off paying that then paying the amount they bill you.

All the best.

Actually I'm not sure I reaffirmed. How would I know? Should I have signed some agreement?

[BobMango]

Sorry I missed that you said you reaffirmed on my first read. If you did indeed reaffirm then you really need to work something out or it will cost you more than the $1K in negative equity you have right now.

You should be able to check PACER to see if the reaffirmation agreement was filed with the court.

[jayalln]

Hmmm

Well if the lender doesn't know your new residence it maybe difficult for them to find the vehicle. Hey but remember people are pretty good at skip tracing sometime. I would suggest you do this. Why don't you call a friend of yours from where you moved and get him or her to register the vehilce for you. He or she could mail you your registration. You just keep the vehilce registered in that state until you can figure something out. And no they won't report the car stolen because it is not. You are the registered owner of the vehicle. This is a civil matter not a criminal one. They may try and get a writ replavin but even with that they would have to get it delievered to you . And you are a thousand miles away they have no idea what court to file it in. So the best of luck to ya.