My question involves an auto loan or repossession in the State of: Texas
I have a somewhat unique situation. recently had to dismiss chapter 13 bankruptcy (7/8/2008), and was told that I would be able to continue payments on my two vehicles (the only secured debt), because I was actually ahead of the payments. One car had a monthly payment of 650, trustee was paying 850. the other car had a monthly payment of 390, the trustee was paying 800.
Anyway, last night a tow truck came for the Sorrento (650 payment). Luckily, it was in the garage and I told him he wasn't getting it until I talked to my lawyer. He was polite, gave me his card and left. The paperwork he showed me said I owed 14,950 dollars (the payoff of the loan).
My question is: Is it possible for the loan holder to accelerate the loan post bankruptcy even though according to the original agreement, I am ahead on payments? I specifically questioned the ability to keep the cars before having the bankruptcy dismissed and was told they were safe. My lawyer is out of the office the rest of the week and I am just trying to find answers. Any advice would be helpful.
p.s. My wife is expecting (finally) her SS disability back benefits in the next couple of weeks, but that would take pretty much all of them and leave nothing for the other bills. Her disability is the reason for the bankruptcy to start with.