Hiding collateral is a crime in some states. Let the creditor know where it is. If you have not filed, you have no protection and they have a right to take it. If you intend to surrender it, do not hide it while you work on filing, the problems that you create are not worth it.
Mr. Goldstein is a Virginia-licensed attorney only. The information is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Answering this question does not in any way constitute legal representation. Contacting Mitchell Goldstein or the Goldstein Law Group does not constitute legal representation, nor is any information you provide protected by attorney-client privilege until otherwise advised.
I respectfully disagree with your first-responder, Mr. Goldstein. You have no legal obligation to cooperate with a repossession. However, you are risking a nasty surprise. The day the creditor finds the collateral and takes it, could be a rather inconvenient mess.
Before any more time passes, you should make the effort to consult with an experienced bankrtupcy attorney. You will learn that once a bankrtupcy petition is filed, the creditor cannot legally take the collateral until they have obtained the proper court order allowing the repossession , even if you state an intention to surrender. What you may also learn from an adept bankrtupcy practitioner, on the other hand, is that you do not yet need a bankruptcy because you have no income or assets to protect. If you do not know a reliable bankruptcy lawyer, use the attorney-finder at www.nacba.org. I am a longtime proud member of NACBA, and trust my CA colleagues to advise accurately and protect clients aggressively.
Best wishes for a favorable outcome, and please remember to designate a best answer.
This answer is offered as a public service for general information only and may not be relied upon as legal advice.
What is not clear from your question is how much money you have for a car and how long it will take for you to save to buy one. If you will need years to save, I do not think it is realistic to believe that you will have the luxury of that much time to accumulate the cash to buy it. The repo people will find you before too long.
Bankruptcy will help you buy a short period to keep the car, maybe 1-3 months, but you will need to be very transparent and open about your assets, so it may actually expose the car to repossession earlier than you expect. You really do need to see a lawyer about all this.
I am happy to answer general questions about my practice areas on this website. . However as I'm sure you understand we do not have an attorney/client relationship. Therefore my suggestions do not constitute legal advice. I urge you to contact counsel in your jurisdiction from whom you feel you can obtain trusted information. http://www.drescherlaw.com