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Ch 7 Nissan Auto Loan - Repo

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Ch 7 Nissan Auto Loan - Repo

Has anyone dealt with NMAC?

We had our 341 meeting on September 26th. I have a 2015 Nissan Sentra that is worth $9k but I owe $17k. Didn't make sense to reaffirm. My husband wants me in a bigger vehicle. I would like to keep the $495 payment and sock it away for a downpayment in January. I would assume by then our DC will be complete. My issue is how long does it take for them to take the car back? In a perfect world I could have $1500 in hand and then I won't care if they take the car at that point. Thanks in advance for your response.

 

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Super Contributor

Re: Ch 7 Nissan Auto Loan - Repo

Welcome. Its a toss up to when it will happen. Theres no set timeframe. You can drive it to Nissan. Heres your keys. C-ya!





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
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Regular Contributor

Re: Ch 7 Nissan Auto Loan - Repo

From my experience it pretty much depends on where you live. Bigger cities have a bigger queue where as, smaller cities things move right along. Ask your attorney, if he/she is experienced enough, they can paint a pretty good time frame. Best of luck!

Discover 22K ---------------------------- Credit Union MC 12K
Cap1 QS 10K ---------------------------- Barclay 3.4K
AMEX Blue Cash AU 15.5K ------ Barclay Apple AU 10K
AMEX BCP 22K
2 Installment loans:
Auto 15K / 39K ---------- Auto 28K / 39K
Vantage 3.0: TU:734 EQ: 730 10-15-19
Ch. 7 DC 12/2014
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Established Contributor

Re: Ch 7 Nissan Auto Loan - Repo


@moneymaker77 wrote:

Has anyone dealt with NMAC?

We had our 341 meeting on September 26th. I have a 2015 Nissan Sentra that is worth $9k but I owe $17k. Didn't make sense to reaffirm. My husband wants me in a bigger vehicle. I would like to keep the $495 payment and sock it away for a downpayment in January. I would assume by then our DC will be complete. My issue is how long does it take for them to take the car back? In a perfect world I could have $1500 in hand and then I won't care if they take the car at that point. Thanks in advance for your response.

 


I will have to look at my paperwork, but one page of the filing that lists my car, states my intentions to surrender it and it states that I have something like 45 days from the date of the MOC to surrender it.  I think it is the MOC, may be the date of filing, not sure.  My MOC isn't until next month.  Look at the paperwork your attorney included in your filing and see if it is on there.  If not, you can always ask your attorney.



Chapter 7 Discharged & Closed Jan 2020
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