Does automatic stay in old law keep cars from being repoed?


R

Rob H

I have a account with ford that i want to keep after my chapter 7 goes
through in the next few weeks. The account is current but the payment is due
this week. A repo guy showed up at my door today. I didn't answer it and he
left a card,but i thought as long as you kept paying,you kept the car. My
payment history is terrible but i got it current before the case filed and
it wont be a problem after the 7 goes through. I didnt call ford and tell
them i was filing,do you think i just need to tell them about it and they
will be cool?
Also,doesnt the auto stay keep them from repoing?
 
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K

kuacou241

1. They won't believe you until you actually file. (Sometimes if a
lawyer calls they will hold off for a few days, but almost never for a
debtor.)

2. How are you going to file "in a few weeks" when under BARF you have
to go through credit counseling, etc.? And, do you meet the new means
test?

3. The new law benefits the car lenders (in relation to reducing the
debt to the value of the collateral). But with luck Ford won't want the
car back and will negotiate.
 
R

Rob H

I mean my hearing under the old law is in the next few weeks,I am waiting on
the 341 letter.
 
R

RTCB

Rob H said:
............. I didnt call ford and tell them i was filing,do you think i
just need to tell them about it and they will be cool?
Yes.

Also,doesnt the auto stay keep them from repoing?
Yes.
 
G

Gary

If you'd included this in the list, they would have receiuved a copy of the
stay, which sez they cannot start or continue repo proceedings until further
advised.

You can try to ammend it possibly, but by all means let them know your in
active BK
 
G

Gene

I have a account with ford that i want to keep after my chapter 7 goes
through in the next few weeks. The account is current but the payment is due
this week. A repo guy showed up at my door today. I didn't answer it and he
left a card,but i thought as long as you kept paying,you kept the car. My
payment history is terrible but i got it current before the case filed and
it wont be a problem after the 7 goes through. I didnt call ford and tell
them i was filing,do you think i just need to tell them about it and they
will be cool?
Also,doesnt the auto stay keep them from repoing?

Personally, you'd have to be way behind for a repo guy to show up.
Something on the order of 3-4 months.
 
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K

kuacou241

If Ford is on the matrix, they got notice of the filing -- unless yours
is one of the 500,000 last-minute cases that are backed up.

All you need to do is to give them a docket number. With that they can
get a copy of your petition online from PACER, or from a commercial
provider.

If you left Ford off the matrix you can amend it for $20 (plus whatever
your lawyer, if any, charges). If you gave the wrong address for Ford
(a lock box (their bank), say) you should just send by mail or fax a
copy of the bankruptcy notice to the correct address.

The 341 meeting has nothing to do with the stay, other than the fact
that you will be questioned about the bona fides of your situation.
Most likely nobody will show up but the trustee, who will ask for stuff
like tax returns and pay stubs.

You are lucky you filed under the old law. There is going to be
inescapable debtor hell for millions of people over the next decade.
Millions of people will leave the money economy. The most profitable
customers of the credit card companies -- the ones who pay the highest
interest and the most penalties -- will stop paying and won't have bank
accounts anyway. Eventually the banks will see that they kneecapped
themselves.

And as for Ford, they don't want the car back. Don't reaffirm unless
you absolutely, positively have to. In many states you can just keep
paying, and you're still not personally liable. Don't be bamboozled
into anything.

Good luck.
 

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