Whats the timeline like for surrendering a vehicle in Ch 7? How long after discharge?

[Anonymous]

Will I know if the credit union files for a relief of stay, and is there anything I could do to prevent them from getting it?

What I cannot let happen is... I stop paying them once I file... they get relief from the stay before I'm discharged, and then I'm without 2 cars and unable to get replacement vehicles due to having no cash saved to buy and unable to attain financing due to ongoing BK.

[Anonymous]

Perhaps you could see if you could find a place in your area that rents old, inexpensive used cars to get you by while you clean up your reports and get your scores up again.

SOMEBODY will finance you after discharge but at sky high interest rates. Renting cheaply until you clean up your credit could be preferable to signing up for a long term unfavorable loan.

[DaveInAZ]

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@Anonymous wrote:

Will I know if the credit union files for a relief of stay, and is there anything I could do to prevent them from getting it?

What I cannot let happen is... I stop paying them once I file... they get relief from the stay before I'm discharged, and then I'm without 2 cars and unable to get replacement vehicles due to having no cash saved to buy and unable to attain financing due to ongoing BK.

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Yes, your attorney will be notified if/when they files for a relief of stay, and they are unlikely to file for relief immediately, I would guess halfway between filing and your 341 creditors meeting, probably a month after filing. Yes, if you're determined to continue to pay after filing your attorney can argue against the relief, showing the court that you continue to keep the payments current, it might work. Two suggestions:

1- Dig up your loan docs and see if they have the clause about the loan being automatically in default if you file BK. If yes, then you'll be lucky to keep the cars through discharge, even if you keep the payments current. If no then:

2- A day or two after filing call them and explain that you can't/won't reaffirm because the loans are underwater, but you have the means to continue to keep the payments current, but you'll have to be vague/evasive about just how long you will keep the payments current.

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@Anonymous wrote:

Perhaps you could see if you could find a place in your area that rents old, inexpensive used cars to get you by while you clean up your reports and get your scores up again.

SOMEBODY will finance you after discharge but at sky high interest rates. Renting cheaply until you clean up your credit could be preferable to signing up for a long term unfavorable loan.

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Even newer cars aren't that expensive to rent, I rented a nice Ford Fiesta from Enterprise last Thanksgiving for $120+ tax weekly rent for a driving trip to Colorado. BUT you need a CC with more then enough CL to cover the rental, and CKA321 won't have any CCs.

[Anonymous]

I did pull the loan agreements and saw that filing for BK automatically puts the loans in default. 

[djnikki1]

Make sure your lawyer does not screw you like mine did.  I converted from a Chapter 13 to Chapter 7 in March 2015.  The lender filed a motion from stay of relief a week later with a court date of 5/15/2015.  I contacted my attorney on 4/20/2015 to ask for an extension with the courts because we were relocating from Georgia to Colorado and needed a vehicle.  I contacted him via phone and email.  One week later (4/27/2015) my lawyer, without my permission, authorized them to pick up my vehicle and he also received letters from the attorney of the Lender without telling me as well.  My vehicle was picked up in Colorado on 5/14/2015 with the majority of our belongings in the vehicle.  I called my attorney and instead of helping, the receptionist berated me.  The attorney was not there and would not be back until Monday, his partner was also avoiding my calls.  I sent an email that day firing my attorney because this was the 3rd time I had dealt with lack of communication with him.  I had planned to surrender the vehicle on my own so that we would not be stranded in a new state.

[beezer32]

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@Anonymous wrote:

I did pull the loan agreements and saw that filing for BK automatically puts the loans in default. 

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My contract with Capital One Auto Finance said they same thing. They sent a letter to my atty saying its was a breach of contract, however they never repo'd. I had to request months later that they come and get it. Just my experience though.