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car not repossessed

Date: Wed, 04/13/2011 - 02:04

Submitted by anonymous
on Wed, 04/13/2011 - 02:04

Posts: 202330 Credits: [Donate]

Total Replies: 2


I had filed bankruptcy several months ago. I chose to surrender my car. After i got bankruptcy discharge, I thought that my lender will come to take the car. But my lender has not yet come to fetch the car. I have tried to contact my lender but he has refused to talk to me. What should I do now? Is there any time limit to take the car?


This is a common problem faced by people who have filed bankruptcy and got a discharge from it. If the lender does not repossess the car, then you'll have to bear the expenses such as insurance payments, etc. You may call the lender on a regular basis and convince them to pick up the vehicle so that you can get rid of it. This is the best option.

In case, this option does not work, then you may keep and vehicle and use it. But you should maintain and keep the vehicle registered. Someday a collection agency may decide to pick it up. There is one more option which you can go for. In this option, you can park the vehicle in a secure, public location and send a copy of the keys via registered mail to the creditor.However, in this option even, you should keep the car insurance payments current until you're sure that the lender has picked it up.
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lrhall41

Submitted by Anna Sweeting on Wed, 04/13/2011 - 02:28

( Posts: 1827 | Credits: )