in preparation for Chap 7

[chapter7heaven]

What is the name of your state? Louisiana

I plan on filing for Chap 7 in about two months...in the meantime

I can't make my car payments...

question: should I surrender the vechicle or just wait till the repo man shows up? Is there a benifit in doing one versus the other?

Also,

I plan on filing seperately from my spouse this year ( shes not going Chap 7).

question: whats the advantage filing jointly versus seperate taxes?

Thanks

 

[dorenephilpot]

It depends on whether you want to drive the car in the meantime.

If you don't, then you can call them and let them know the car is available. Or you can deliver it to their lot and leave the keys with them.

If you need the car for awhile, you'll probably have a little time until the repo man shows up. It varies from creditor to creditor, and there's no way to predict when that might happen.

If you file for BK protection, they can't repo it until the case is over OR until they get "relief from stay."

Hope this information is helpful.