When you file bankruptcy, they make it hard to pay your car payment. Be prepared to use the mail.

You file bankruptcy and you want to keep your car. You know that means you need to keep paying.

Seems like the car finance people would welcome your payments; but they make it hard. That may be the most annoying thing that happens when you file bankruptcy. So be prepared.

If you know what to expect, here’s how to prepare.

Here’s the key info you need to round up, before we send in your bankruptcy papers:

Your account number

Your payment address

The date each month the payment is due

The date of the final payment

When you file bankruptcy, the car finance company will stop sending you bills. If you had an automatic deduction from your bank account, they will turn that off. They will shut off your internet access for your account.  And if you call for information, you probably won’t get is.

All that is pretty annoying.  (I explain here that’s because “you don’t have to pay.” Of course the car still has to pay.)

Here’s how to make your car payment when you file bankruptcy. You can use the mail.

How to make your car payment, when you file bankruptcy. You can mail a check every month.

So once you file bankruptcy, paying the car is like paying the rent; you need to remember it on your own.

You can make a note on your calendar to mail them a check every month. Or you can use your bank’s bill pay to automatically send a check. (Filing bankruptcy stops the car finance people from taking money automatically from your account. But it doesn’t stop your bank from sending money automatically from your account.)

That’s why you need to track down the account number and payment address before we send in your bankruptcy papers. So you have all the info you need to set up that bill pay with your bank.

If you know what to expect, it’s really not that hard.

And if it’s the most annoying thing about filing bankruptcy, well, for most people bankruptcy works.