Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do: (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.

Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

Help with credit union and Vehicle

  • Filter
  • Time
  • Show
Clear All
new posts

  • Help with credit union and Vehicle

    In 2005 we had our house refied with a Credit Union. A few months after that we bought a truck through the credit union and also had a credit card through them. Our house was taken in foreclosure due to brain tumor for me and job loss for my husband. We continued to pay on the truck and now have about 5 payments left on it. We are behind on it right now as we moved out of state for work and my husband was laid off for about a 6 week period w/o unemployment. We had planned on paying it off next month with our income tax return however on Monday we received a judgment order request for the foreclosed home remaining loan amount. We are now considering BK for just my husband as this is all in his name. If we do this can they still take our truck when we pay it off? We also will be declaring BK on the credit card through them. I am just wondering if we should keep the money as they may take the truck even after it is paid?

  • #2
    Some of the more expert people will answer you soon, I am sure. I just wanted to tell you to get any money you may have in any accounts with that credit union OUT right now, and make sure you have no direct deposits going into any accounts associated with them! Now, right now!

    You should be able to keep the truck if you get the payment current and keep paying on it even if you file BK, as long as the truck loan is not tied into your home loan.
    Filed Ch 7 Pro Se 11-18-2010 341 Meeting 12-16-2010 Discharged 2-15-2011
    New Job 7-2011


    • #3
      I had two car loans and a credit card through my credit union. I was current on both car loans, however, I started to fall behind on CC payments. Something I learned about credit unions, it's called cross-collateralization. I started receiveing phone calls and letters saying that they where going to repo both of my vehicles due to deliquent CC payments. Apparently,somewhere buried in the loan docs, it states the vehicles are now collateral for my credit card. Lesson learned!

      Needless to say, I filed BK the following week.

      As far as your questions goes- I don't believe they can repo the truck once it is paid off.

      Hopefully, someone else can confirm!

      Good luck


      • #4
        If it is cross-collateralized, they can as it secures other accounts, like the mortgage and the credit card(s). That's the problem with credit unions.

        The key is, you may be able to request that they bifurcate that vehicle from the cross-collateralization of the mortgage and the credit card(s). This would mean that the cross-collateralization would be removed for the vehicle. This can only be done on the pure kindness of the credit union -- you can't force them to do this. However, if they are nice, they'll remove the cross-collaterialization on request. If they are mean, they'll want the car.
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog

        I am not an attorney. Any advice provided is not legal advice.


        • #5
          Just broke

          So even AFTER the truck is paid off, they could still come take it? Or am I misreading your post?



          • #6
            Hmmm... well throw my question into the mix re: CU and cross collateralzation...

            So JB - if you strip a 2nd mortgage (approved) and you have a vehicle that is outside the plan that you're paying on that is through the same CU.... my question is the same as PHX above - can they still take the car once its paid for? CU submitted a claim but it was denied since we continued to pay outside the plan.



            • #7
              It depends on whether it was cross-collateralized (CC). I made a generalization that most credit unions (CUs) do this CC. Thy only way to tell is to check the installment agreement. Some CUs remove the CC on demand, others fight about it.
              Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
              Status: (Auto) Discharged and Closed! 5/10
              Visit My BKForum Blog: justbroke's Blog

              I am not an attorney. Any advice provided is not legal advice.


              • #8
                Well at this point I am just going to make the last couple of payments, My truck is older a 2000 and if they come get it so be it. I am tired of worrying about it at this point.


                • #9
                  Originally posted by justbroke View Post
                  It depends on whether it was cross-collateralized (CC). I made a generalization that most credit unions (CUs) do this CC. Thy only way to tell is to check the installment agreement. Some CUs remove the CC on demand, others fight about it.
                  Thanks for the answer JB Looks like I'll be pulling the safe out *groans* to read org. contract. Ugh.


                  Unconfigured Ad Widget