Santander won't pick up car after 2 years

Anonymous · ‎05-15-2020

Hello myfico community.

I have a question and I hope someone can help me with. My chapter 7 was discharged on 12/12/2018. In that chapter 7 was a car loan with Santander. I did not reaffirm the loan. It's been 2 years now and they still won't pick up the car. The car is only worth $1500 and it need about $2000 worth of work to get it up to par. So should I get it fix or try to get them to pick it up. For some reason I can't get a car loan and it's hard saving for another car. Don't know what to do. If anyone going through this let me know and give me some advice. Thanks.

ldkcivilservant · ‎05-19-2020

You have a BK that is less than 2 years old, and also apparently have a repo. That's why you can't get another car loan.

Little point in spending $2k on a car that could well be gone from the driveway when you come home one day. Take that $2k and buy a beater to tide you over, as long as it gets you from A to B, that's all the car you need right now.

sccredit · ‎05-19-2020

@ldkcivilservant wrote:
You have a BK that is less than 2 years old, and also apparently have a repo. That's why you can't get another car loan.

Little point in spending $2k on a car that could well be gone from the driveway when you come home one day. Take that $2k and buy a beater to tide you over, as long as it gets you from A to B, that's all the car you need right now.

The car was included in bankruptcy, responsibility for the debt was discharged. OP does NOT have a repo. The car is not worth picking up for Santander.

Anonymous · ‎05-20-2020

Thanks for the information. So should I get it fixed or should I just take it to the place where I brought it from and call the company to come get it I've been trying to call Santana for months but they won't answer the phone. if I take it to the lot and leave it there then take my tags off I'm afraid that if something happens to the car is going to be my responsibility. What should I do?

sccredit · ‎05-20-2020

It depends on your risk tolerance. IMO if they haven't picked it up yet they arent going to, I doubt they have any intention of taking it. That is a gamble though. Say you fix it and in a few months they decide they want it - you have a car you have sunk money into and now it is gone. On the other hand you could by theory drive it for years without them picking it up.

Dj4Money · ‎05-24-2020

It won't matter. If he's lives in one of the 33 states that Santander has reached an out of court settlement with 33 States' DA.

550 Million total, 45 Million for those in default but haven't had their car repo'ed, will get the title in the mail and the rest of the loan forgiven.

https://www.law.com/ctlawtribune/2020/05/20/santander-reaches-550m-settlement-over-deceptive-auto-lo...

Anonymous · ‎05-24-2020

I just read about it. will i get anything if i filed chapter 7 , but i still have the car?

Dj4Money · ‎06-02-2020

You should contact your state's DA office if they are among the 33 that settled, they would know more than I would.

That said, if you live in the 33 states (including CA) that have agreed to terms with Santander it doesn't matter if you have filed for BK, if you still have the car and it hasn't been taken by the bank they will issue you the title and pay off the balance you owe.

I would take that over Chap 7 because having my car repo'ed hurt me (bomb'ed my Auto 8 score) and has cost me at least $10,000 in rental cars as I didn't have enough money to put down to offset the high interest rates I was getting from Capital One.

peter1974 · ‎06-05-2020

@Dj4Money wrote:
You should contact your state's DA office if they are among the 33 that settled, they would know more than I would.

That said, if you live in the 33 states (including CA) that have agreed to terms with Santander it doesn't matter if you have filed for BK, if you still have the car and it hasn't been taken by the bank they will issue you the title and pay off the balance you owe.

I would take that over Chap 7 because having my car repo'ed hurt me (bomb'ed my Auto 8 score) and has cost me at least $10,000 in rental cars as I didn't have enough money to put down to offset the high interest rates I was getting from Capital One.

So what about folks who don't live in those states? Are we SOL?

bigred1967 · ‎08-07-2020

So evidently Oklahoma isn't one of them..