topic Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed? in Bankruptcy

Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Anonymous — Sun, 18 Aug 2013 21:27:33 GMT

I have a car loan with santander and looking to file chapter 7, do they repossess, or do they allow you to make your monthly payments ? I would like to get a sense of how difficult they are to deal with if a reaffirmation is "not" signed and payments are current and if they will continue to accept payments.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Anonymous — Mon, 19 Aug 2013 20:05:08 GMT

They can not repo the car once you have filed, it is against the law. I have a car loan through Exeter when I filed and I was behind 3 months on payments, well I filed in May and still have car now and as a matter of fact my attorney told me if they want to repo in a Chapter 7 they have to file a motion through the court and that alone takes 30 days. But most will wait until you forfiet the car. They will work toward a reaffirmation which basically means resigning the loan with added or deleted stipulations. Hope this helps Good Luck!!

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Anonymous — Mon, 19 Aug 2013 20:07:00 GMT

Sorry I forget to say, my attorney told us if we wanted to keep the car to keep the payments going until the reaffirmation. But keep in mind they do not have to accept any reaffirmation agreements if they choose not to.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

RandoMChild — Fri, 07 Feb 2014 19:47:44 GMT

Not sure if you still need the response (maybe some one else will?!?) but I had Santander when I filed. I didn't pay during the automatic stay. I had initially chosen to reaffirm but changed my mind before the 341 meeting. A month after my discharge they came and towed the vehicle. When I called to make sure it was them, the lady offered me the chance to keep the car and continue making payments if I paid the payments I missed during the automatic stay. I would have to pay the missed payments within 10 days of the repossession. She said if I had just kept making payments the car wouldn't have been towed. I do know they don't report after a bankruptcy so it won't help your credit.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

ezdriver — Fri, 07 Feb 2014 20:45:13 GMT

Depending on your State of residence, you may have multiple options. Bottom line is that most lenders will not repossess the vehicle as long as payments are current. From what I researched last night, I think there are two companies, Ford and Toyota maybe, that will require a reaffirmation of the debt or they will repossess the car. The big benefit of not reaffirming has to do with the right of the creditor to reposess and resell the car then sue you for deficiency. They can do just that if you do not reaffirm and miss payments then lose the car. I reaffirmed mine but now I wish that I had not.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

0REDSOX7 — Sat, 08 Feb 2014 01:42:25 GMT

We did not reaffirm but are doing a pass through. Will surrender the cars a few months post discharge and let them take em and forget about a deficiency balance.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Anonymous — Sat, 08 Feb 2014 02:50:39 GMT

Thank you! I ended up filing chapter 13 and found that Santander removed my 15 months of on time payments from my credit history, can they do this?

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Sassy_Taurus — Sat, 08 Feb 2014 03:12:53 GMT

I had Santander when I filed my chapter 7 last year. They also removed my 2 years of on time payments. After I discharged last month I called them to pick up the vehicle.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Anonymous — Sun, 09 Feb 2014 02:07:05 GMT

I just got a car from carmax on August '13 and santander was my lender. I just filed for bankruptcy Jan '14. I noticed my loan is already gone from my transunion report. So my on time/extra payments are gone. I go to court monday to for the meeting for the creditors. What would be my best option? I want to receive the points for making on time payments. Would it be best to just apply for another car?

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

0REDSOX7 — Sun, 09 Feb 2014 02:13:07 GMT

TU and EQ I see remove payment history from accounts IIB. Only payment history remains on your EX CR. Unfortunately it is accurate.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Gerald56 — Tue, 11 Feb 2014 21:20:40 GMT

We gave ours back as soon as we filed papers..it was to much to look at knowing we paid double its value and still owed $6000 on it... we called them and told them to come get it. santander should be kicked out of our country.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Anonymous — Fri, 14 Feb 2014 04:31:52 GMT

Did it show a repo on your credit? I am in the process of getting my car delivered from 722 redemption. I am going to call Santander to come get my car after my new car in my parking lot.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

bunga7 — Fri, 14 Feb 2014 18:41:32 GMT

722 Redemption? Have you inspected the car prior to taking delivery? There are horror stories on the web about this program.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Anonymous — Fri, 14 Feb 2014 18:53:30 GMT

I am not signing anything until I thoroughy check out the car. It is scheduled to be delivered on Saturday. I already ran the carfax on it so its clean on that front. I will let you know how it goes tomorrow.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

0REDSOX7 — Fri, 14 Feb 2014 19:17:59 GMT

I do not think they can legally report it as voluntarily repossed - they can only report it as IIB with a zero balance.

If they try any tricks - you can 1) dispute with the CBs, 2) do a DD and 3) complaint with BBB.

But do let me know about the 722Redemption. Was going to do it until I read nothing but horror stories about it.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Anonymous — Sat, 15 Feb 2014 05:57:16 GMT

I will let you know. The driver called me today to confirm that the car will be delivered by 5-6pm tomorrow. I am so excited it looks really good on the photos. I also had Dan Nyman the sales guy (very nice guy) personally email me extra photos of the car. Outside of the photos from the website and I asked for particular photos of the car. To check for body damage and interior. The car looked even better in the photos.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Anonymous — Sun, 16 Feb 2014 00:30:42 GMT

Hey guys. My 2012 Nissan Maxima was delivered today. The driver was super nice. He did the walk around inspection with me on the car. It is in prestine condition. Still smells like a new car. I 100% give a thumbs up to 722 redemption. Ask to speak to Beth Day. She is very nice and she answered all my questions and answered all my emails in a timely manner. They are saving me money on the the interest of the loan and on the loan payments. I am calling Santander first thing Monday morning to tell them to come get the Hyundai Sonata.

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Gerald56 — Sun, 16 Feb 2014 14:39:03 GMT

after discharge santander disappeared off our credit reports

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Anonymous — Sun, 16 Feb 2014 19:42:53 GMT

Santander deleted my loan after I filed my BK

Re: Car loan with Santander and filed Chapter 7 - Was your car repossessed?

Webpagesby23 — Sun, 02 Mar 2014 03:33:13 GMT

Funny story,

After I got my car one of my co-workers noticed my new car. She noticed the dealership on the front tag plate. She asked me quietly you filed for BK? I was like how did you know? She was like I did it a few years back and went through 722 redemption and thats the same dealer that I bought a car from. She loved the car she received from them and she had affordable payments.