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My car after bankruptcy

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New Member

My car after bankruptcy

When I filed for bankruptcy I included my car (2003 ford) and did not reaffirm. Paid for a few months and then stopped due to wanting to save up for an emergency fund and just start saving. Im aware if they repo it, it will not affect me because I did not reaffirm. I will be okay if they do since I live outside of the city but very good public transportation til I save up for another car or get another one. My question is they have not called or sent letter as far as collections at all. I bought the car way overpriced in 2009 from a car dealership with a 2 year warranty and paid with principal, interest, minus trade in for about $12K (very bad decision). I have paid thus far about $10k on it.. What should I do? wait til they call / repo or call them to get it?

 

Note: have only made two payments since June

 

EQ 566 (12/12)
TRANS 576 (12/12)

GOAL: 700-720 across the board
Message 1 of 3
2 REPLIES
Frequent Contributor

Re: My car after bankruptcy

Why throw away 10k?

BK: 7 filed 3/31/12 - Discharged 6/27/12
Made some poor choices and life snowballed
BK: 13 filed 7/29/16 - on a 36th month time out
No CC - No Loans - Student Loans all current.
Message 2 of 3
Valued Contributor

Re: My car after bankruptcy

If you surrender it, it doesn't look as bad on your credit report. I would surrender rather than wait for them for repo.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 3 of 3