Chapter 7 discharged..case is not closed..vehicle IIB but GM Financial will not pick it up

[Anonymous]

SOOO here it goes.. I filed Ch 7 October 2018 and was discharged Janauary 2019. I have a vehicle that was IIB financed through GM Financial. Despite my case being discharged, it is still "open" because my trustee has to do a debtor sell. The whole process could take another 90 days. In the meantime, I am stuck with a vehicle that I am paying insurance on. I want to just move forward at this point and get another vehicle BUT GM financial refuse to pick it up until my case is closed. Is it mandatory that I continue to pay insurance for the vehicle IIB? What if it is damaged while in my possession? I could be saving that money towards a more reliable vehicle....any contribution would help....

[FireMedic1]

Welcome. Legally you are still the ownwer. You dont have to pay back anything now. But say you took it for a stop to a 7-11 and get a soda per say. Theres an accident. Cant tell the cops its not mine due to BK. A tree falls on it. You'd be stuck to pay the body shop to fix it without insurance. Until its leaves your possesion. Your still liable for the car. So yes you still have to carry insurance. The title is still in your name. Your required to have insurance per state law until its towed away or driven away.

[Anonymous]

Thanks for your input FireMedic1 that makes perfect sense. I guess the smart thing to do is drive the vehicle and keep full coverage insurance on it and dont worry about jumping right into financing another vehicle. Take advantage of having a vehicle that I am not obligated on paying for and spend time gardening. I know i just answered my own question lol it just sounds better writing it out.

[FireMedic1]

Your welcome. Yes there have been a few not so good stories on here about the insurance thing. Until they get it. Enjoy it until its gone. Dont miss a payment. Dont want lates on your file either. Good Luck!

[gorgon]

I didn't keep insurance on my leased vehicle that was IIB, but I also didn't drive it, and it stayed in the driveway until they picked it up. I used the monthly insurance savings to start my emergency savings account.