Chrysler Financial

Date: Tue, 04/21/2009 - 21:06
Submitted by on Tue, 04/21/2009 - 21:06
Posts: 202330
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Thru advice of out attorney, they have told up to let our 04 grand Cherokee be repossed. Finally called Chrysler Financial today to tell them to come pick it up. Ist rep said we are nly 9 days late and that they don't pick up cars that only a few days late. I explained that we were filing chapter 7 bankrptcy, she put me on hold, came back and said we had to turn it in to the dealership. I explained that it won't start and we haven't been able to drie it for almost 3 months. Again I get put on hold, then a supervisor gets on the phone and starts telling me how this repo is going to affect our credit. I was like hey we are filing bakruptcy obviously we know our credit will be shot for awhile.

Anyways,I have 2 questions.

Supervisor said that we will still be liable for the remaining portion of the balance after it is sold. Doesn't the 7 wipe out all debts? We will not be able to file until at least July 9th because of Attorney fees and the means test. I was laid off Jan 9th and won't pass the means test til July. Surely by then the vehicle will have been sold and probably sent to a collection agency.
I think she was just blowing smoke trying to scare us into paying the debt.
2nd question?
What did you guys average in attorney fees? We will pay about 2300, which includes all court costs and all classes that will be required. Does this sound right?


Yes, it is true that you will be liable for the remaining portion of the balance and the creditor can sue you for the debt and bring judgment against you to recover the debt. However, if you include the "repossession deficiency balance" in bankruptcy and your bankruptcy gets discharged, you will not be required to pay it off, even if there is judgment against you for balance amount.


Submitted by novice on Wed, 04/22/2009 - 05:13

novice

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Yes, the bankruptcy will wipe out the remaining balance on the debt of your loan, and I hope you report that supervisor to the Federal Trade Commission for utilizing that type of "scare" tactic on you, because providing false, misleading, or deceptive information in an attempt to collect on a debt is a direct violation of the "Fair Debt Collection Practices Act", which is a federal law.

You may wish to go to the Federal Trade Commission's site and read this Act, so if anyone from Chrysler Financial calls and attempts to intimidate you again, you will be familiar with the law.

Also, once you have informed a debt collector that you have retained an attorney to handle past due debts, they are required, by law, to communication only with your attorney, and are not permitted to contact you again unless your attorney refuses to respond to their inquires within a reasonable period of time.


Submitted by on Mon, 06/15/2009 - 02:58

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