Filing Chapt 7 Next Month ...... Help !!!!

[Anonymous]

Hi Everyone, I am filing chapter 7 next month and have some questions. I am filing with an attorney in the area and have asked some of these questions already some I didn't ask. ALOT of questions lol Thanks in advance people !

About $50k in debt........

I have a truck financed by CNAC ( from JD Byrider - FYI never go there no matter how desperate you are!!!) The loan is $8,200 approx right now, I pay bi weekly $223 im behind 1 full months worth of payments right now.... $446 as of Aug. 19th. They have been blowing my phone up daily and left a note to call them on Saturday. I've been ignoring them because I am not keeping the vehicle after filing..................

With that being said after I file (mid -September) how long do I have to keep the car typically ? The tags expire end of October.... do I need to pay renew? At what point do they normally have you return the vehicle?

Don't know if someone can answer this but I have SR 22 (Nebraska) so im required to keep my libility insurance for 3 years but it just doubled (student discounts removed) am I able to switch to a non owners policy or do I have to wait until I give the vehicle back?

Does SAC FCU ($7,100 old car loan) allow you back in if you burn them just for like a checking/savings after?

What are good alternatives for transportation if I am forced the give back the vehicle (That are ok during bankruptcy)? Dont have any savings currently but will save about $500 after paying for attorney.........public transportation doesn't run for me when i get off at midnight......cant borrow vehicle from anyone and my family lives close to my job but my house is out of the way for them, no one from work can carpool (no one I know lives near me) to give me rides.... dont wanna be a burden. Is renting a car ok during Chap 7 (I have a part time at Hertz EMPLOYEE DISCOUNTTTT !!!!! ) Or can I just buy a runner after 341 meeting ? I wont have money saved until then probably? Just need options pretty much............

Im actually not stressed im anxious for a new start so I can get started doing things the right way..............will be filing the week before my 25th birthday but it will pay off.

Winded I know lol please help !!!!!

[Anonymous]

Hi there, welcome to the forum!

Since you are already behind on your car payments, they can really take the car at anytime. The bankruptcy stay would hold them off a bit, but since you're waiting another month, I'd expect them at your door before that happens.

If it were me, I'd keep paying the until the filing and then you're protected under the stay. I would think that would look better than getting an old repossession on your reports.

If I were you, I'd save every penny I had for a car and pay cash for the best thing I could afford. I would think a rental could get expensive - right now you're paying $15.92 a day, I hope you can get a rental for cheaper (including tax and all that). You'll still have to carry the same type of insurance on a rental so you won't be saving much on that front.

Just my thoughts. My car was paid off when I went into my ch7 so I didn't have to worry about that much so others might have better advice.

[Anonymous]

You should have gotten a letter already, or you are about to get one saying that you have so many days to pay before they come repo your car. If you can hold them off and make one more payment I would do that, since a repo on your report doesn't look good and will bring your credit down even further than it is now, or will be with a BK. A repo AND a BK on your report are two red flags, you'll have a harder time I presume getting future loans.

If I were you, and you can get a cheap car till you can afford a better one that might be a good idea. You could always look at financing a "new" car after you file or after DC, however that will take some leg work on your end to find someone who will loan to you without a super high APR. Ask a lot of questions.

I have no advice about your SR22, your registration you will need to renew by the expiration date if you plan on keeping and driving the car otherwise you're at risk for being pulled over and a ticket.

[DaveInAZ]

I add to what the others didn't cover:

- You won't be able to rent a car without a credit card with enough credit line for them to authotize the full amount of the rental period.

- Don't change your SR-22 to a non-owner policy until you don't have a vehicle

- Your best option is to save as much $$ as you can to buy a cheap car that will get you to work & back. Or, if your family is close to your job can you sleep on their sofa when you get off work, and then use public transportation to get to you home & to work during the day? After your BK discharge you should be able to get a high interest car loan to buy a car; make payments on time and you should be able to refinance it into a lower interest loan after 6 months.

[Anonymous]

Thank you for your feedback guys.

JDByrider their so called "owner" called me about an hour ago, they have a new "owner" every other month it seems but I told him the earliest I could come up with anything would be 2 weeks when I get paid. He was very rude and told me to call him when I can. I dont plan on it to be honest. My attorney told me theres no point in paying them because i wont be keeping the vehicle. I havent started my part time with Hertz yet but when I do I might take that check and anything else I can come up with to buy a runner for awhile. Right now my full time checks are going to regular bills (Rent, Electric, Food, Gas) and a large sum to my attorney from each check I figure the faster I pay him the faster I can get started he's charging $1,200 so not too bad. After I pay him I am gonna just let my part time checks stack up and save from the full time checks and just got get something good for the winter.

If i file like September 16th or the week after to allow time to get the paper work done, i figure DC should be around Christmas or something like that. I hope they dont come get it but if so ill figure it out somehow some way if they do. I really would rather not have a 2nd repo on my credit but im sure its happened to others.

I plan yo use SoulMasters from BK7 to 700 and will probably keep whatever car I can buy through the winter...... might wait to trade for something "newer" but if i do get something newer ill refi in a year........ I was thinking if discharge is before new year would it be good to maybe try out one of the car lots on their "end of the year clearence sales" ????? I mean intrest wise im sure it might still be a bit high but they might be good with a lower price im thinking............. opinions?

[Anonymous]

Welcome!

i (like many of us) have been in your situation.

I visited with my attorney for the first time in Feb 2016 (I was already about 7 months behind on a $889 per month car note). She told me the same thing your lawyer is telling you, there is no point to pay when you know you are getting rid of it.

What she somewhat said to me was that if I had a place to put my car, out of plain sight, to do that until I filed but I did not. I parked outside my home every night. But I have a neighbor with a loud truck and every night I heard it I was awaken with fear (not the way to live).

I FINALLY filed May 8 2016. So add 3 more months to that debt I was in with my car loan. Once I filed it got them off my back (they werent calling me because I had changed numbers and forgot to tell them but they were calling my mom). HOWEVER they did file a motion against me to basically request that the court grant them permission to get my car prior to the BK being DC'd. My lawyer told me it was no need to even fight them so we let them have that one.

Once they won that she told me to prepare for the worst and mentioned a long-term rental car so if you have hertz as an option it's definitely worth looking into and finding out what they'll require from you (as another poster stated, probably a credit card with a nice size available balance).

I've heard of JD before when I lived in Indiana and I know they are local so they may try to come get the car sooner than later. My finance company even after being granted the motion still has not called me or my attorney to come get my vehicle. Which was a blessing to me because I almost took on a redemption loan just out of the fear of not having a car. But luckily I made it to DC day and I am about to start shopping around.

Bottom Line-

You held them off 2 more weeks. I wouldnt expect much more than that. Soon they will definitely want the car back and it sounds like they will want it a week or 2 before you file BK. IF IT WERE ME.....After you dont call back in 2 weeks like you told him you would...find a good hiding place for the car just to hold you over until you file. Again YMMV. There was another post today about a company coming and taking the car with no notice.

[Anonymous]

Thank GReed ..... see ive been feeling that "paranoid" feeling because Saturday they came to my apartment and left a note on the car telling me to call them. Just a little generic slip with their number and saying give us a call but im still scared. I know in Nebraska the lender can't repo with out first sending a letter to cure telling me what amount i have to pay, why I owe and I have 20 days from the date of the cure letter to pay or they will repo. I read my contact and it states that as well. I figure maybe shouldnt be alarmed until I get the letter. I found a old friend that has a few cars for sell $1000-$2000 so maybe that should be my go too route.

I know everyone who has filed has probably been here but the feeling of the "unknown" is killing me lol Im just nervous .......  I have a friend who was 3 months behind with them and they still didnt come get the car until she was 7 months behind...... i was like wow! Just gonna....1 . pay the attorney the start saving every dime ! 2. wait for 341 to happen

If they dont repo before i file will they tell me at 341 meeting when I need to return to vehicle? my attorney says he hasnt seen JD Byrider ever show up to the hearing or file motions to repo (guess they dont wanna pay the cost)............

[Anonymous]

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@Anonymous wrote:

Thank GReed ..... see ive been feeling that "paranoid" feeling because Saturday they came to my apartment and left a note on the car telling me to call them. Just a little generic slip with their number and saying give us a call but im still scared. I know in Nebraska the lender can't repo with out first sending a letter to cure telling me what amount i have to pay, why I owe and I have 20 days from the date of the cure letter to pay or they will repo. I read my contact and it states that as well. I figure maybe shouldnt be alarmed until I get the letter. I found a old friend that has a few cars for sell $1000-$2000 so maybe that should be my go too route.

I know everyone who has filed has probably been here but the feeling of the "unknown" is killing me lol Im just nervous .......  I have a friend who was 3 months behind with them and they still didnt come get the car until she was 7 months behind...... i was like wow! Just gonna....1 . pay the attorney the start saving every dime ! 2. wait for 341 to happen

If they dont repo before i file will they tell me at 341 meeting when I need to return to vehicle? my attorney says he hasnt seen JD Byrider ever show up to the hearing or file motions to repo (guess they dont wanna pay the cost)............

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If they dont file a motion or show at the hearing, they basically have to leave you alone until post-DC