cancel
Showing results for 
Search instead for 
Did you mean: 

Chapter 7 Surrender Car to Carmax

tag
rodbite2104
New Visitor

Chapter 7 Surrender Car to Carmax

Does anyone have experience surrendering a car to Caramax Finance? I just filed a week ago and just trying to gauge how much time I have before needing another vehicle. Also, do they snatch the car when unexpected or do they set up a date?

 

Message 1 of 4
3 REPLIES 3
FireMedic1
Community Leader
Mega Contributor

Re: Chapter 7 Surrender Car to Carmax

So you dont want it at all? Did you not reaffirm the auto loan? You can pay and drive and turn it in anytime you want. maybe after finding another vehicle. but that will probably have higher pre BK interest.


Message 2 of 4
rodbite2104
New Visitor

Re: Chapter 7 Surrender Car to Carmax

Yes, I reaffirmed but the lawyer said today he would do an amendment. I plan to save 5-7k and buy a cash-beater car.

 


@FireMedic1 wrote:

So you dont want it at all? Did you not reaffirm the auto loan? You can pay and drive and turn it in anytime you want. maybe after finding another vehicle. but that will probably have higher pre BK interest.



Message 3 of 4
FireMedic1
Community Leader
Mega Contributor

Re: Chapter 7 Surrender Car to Carmax

Ok. No telling when they'd retrieve it. Some still have their cars after not making payments. Once it changes to non-affirm it will just be a IIB on your file and not a repo.


Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.