IF you have two car payments in chapter 13 Do you have to give up one car?

No.Chapter 13 offers individuals a number of advantages over liquidation under chapter 7. Perhaps most significantly, chapter 13 offers individuals an opportunity to save their homes from foreclosure. By filing under this chapter, individuals can stop foreclosure proceedings and may cure delinque...

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After filing chapter 7 you did not reaffirm your car loan what happens now?

2 factors:1. Are you current on your payments? - if you are not current on your payments the creditor will most certainly repossess your vehicle. however you will not be liable for any deficiency amount.2. Who is the creditor? - Most creditors will gladly continue to accept payments on the vehicl...

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You sold your ATV before it was paid off is that illegal?

I sold my ATV that was not paid off is it illegal?

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How do i find a car company to finance me while going through a chapter 7 bankruptcy?

Its tough for sure.You must recognize that no quality lender is interested.You will be paying a huge premium to whomever is interested.You'll see them advertising...and the "we tote your note" type lenders can sometimes be interested in doing it.But understanding all that, virtually all of these ...

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What happens when someone who cosigned for has filed bankruptcy?

If you are talking about someone who cosigned for your loan filing bankruptcy, As long as you continue to make your payments on time, nothing will happen. If you are talking about someone you cosigned for taking bankruptcy, you may very well have to pay this loan. Contact the lender.

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Do banks receive blacklists of addresses?

Not in the US,First, it's just a dumb concept..."a blacklist"...sure my competitior is going to take my opinion of who he should do business with. That's as stupid as my sending him the name or such of who that person is that needs my service!You know, a bank won't give you a loan just because th...

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If a car is cleared in bankruptcy and the car does not start do you have to fix it before they come pick it up?

No, but most lending contracts stipulate that secured property must be kept in the same or reasonably acceptable condition as it was when the borrower took possession. Therefore it is likely the lender will have the car repaired and add the costs to be paid by the borrower. New bankruptcy laws no...

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How do you answer the questions on form B8 for chapter 7 bankruptcy on part a?

Truthfully and accurately. Filling out the forms is the easy part of bankruptcy...many results are possible afterward, with many things needing to be done...and your creditors will have lawyers to try and make sure the best result for them occurs. Think it through...think maybe you need one too?

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When we have two car loans can you keep your cars if I file chapter thirteen bankruptcy?

First you should answer some hard questions Is the car worth what you owe on it? Maybe just let it go and start over.....If you let the cars go can you deal with having only one car for a short time? Many dealers will finance bankruptcy customers and charge only higher interest rates.....Will ban...

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Can you return car in chapter 13 and still owe?

Absolutely...you don't escape debt on what you owe....your just allowed to pay it off on more favorable (to you) terms than you originally promised you would, pretty much no matter how bad that is for the one who lent you money!Chapter 13 offers individuals a number of advantages over liquidation...

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Can you file chapter 7 on a car loan?

You file BK and it effects all your debts and all your assets. You do not pick and choose what you want included.A car loan is generally a secured loan, and the security maybe used to pay the debt under the bankruptcy.

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You got a title loan after you went into chapter 13 and they repocessed your car without court approval Is this legal?

Yes. You took the title loan without court approval. That is NOT legal, can be considered fraud, and is in complete conflict with the sworn agreements you made with the court about how you would behave and what you would do - basically do nothing financial without their approval - in order for th...

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How do you pay for your Car on chapter 13 Does the monthly payment stay the same?

Sometimes. You have to pay your debts, you are just given time to do so where they cannot seize the asset. The payments themselves may be budgeted differently.Chapter 13 offers individuals a number of advantages over liquidation under chapter 7. Perhaps most significantly, chapter 13 offers indiv...

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Can you rent a car while in Chapter 13?

I think your missing the point..your not prevented from doing something...it's that OTHERS are prevented from doing things to recover from you...because you didn't do as you promised...that is ...pay on time. Your now given the chance to get it together with a budget and new promises...you can do...

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How long after filing does the trustee have to take possession of unsecured property because you own a car you surrendered but the car is still sitting in your yard and the title in your hand?

I presume you filled according to your question. Ask your atty. Otherwise, once the judge dismisses your case, it's all over...but, you never know with some of these judges. I read they are real nasty in Chicago. It depends upon the type of bankruptcy or if the car was considered exempted and dis...

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What do you do with a vehicle after going bankrupt on it?

When you file bankruptcy, it involves ALL of your asserts and liabilities...not only those you want it to or chose.All are given different classes or levels of priority. Some are even exempt - either as a debt to be excused, or an asset to be used. Again, you don't chose (because you would say in...

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When a car gets repoed do they have to give you options to get your car back if so how many days do you have to take care of it in Texas?

Well, the repo company takes the repossessed vehicle to a storage lot or auction house, where it's stored for a period of time. Under state law, the repossessed vehicle must be sold in a "commercially reasonable" manner. You must be given reasonable notice of the date, time and place of the sale,...

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You are in chapter 13 and your truck got towed by a tow company because you ran out of gas is there anything that you can do under chapter 13 rights to get it back without paying their fee it is now u?

No, property which is "attached" for services can be sold to pay for the services. They do not specifically fall under the bankruptcy law.I just have to comment...I appreciate your going through a tough time now...but you seem to be very confused and maybe that's part of the problems.Your Bankrup...

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How can you get your title back if you have filed bankruptcy and the lien holder did not show up for the meeting of creditors?

The creditor does not waive the lien on your auto simply because they did not appear at the 341 meeting of creditors. It is your responsibility to reaffirm (new contract) or surrender the auto. There are situations that may exist where you can avoid their lien if the liened property is not proper...

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Check blacklist from bank?

Fewer stores today accept checks as payment for goods and services than in the past. However, for those that do, there is a list they can check first before accepting checks. If the check writer has had checks returned for insufficient funds previously, they may be denied the option of writing ch...

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What happens to surrendered property in a chapter 13 bankruptcy?

It's usually sold or auctioned off by the lienholder.

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If a vehicle was charged off as bad debt is there a lien holder?

Yes...the lender did not forgive the debt. Charged off is only an accounting term for something the lender has to record on his books...basically to show the loss and non-performance of the loan. It does not change the borrowers obligation, or the lenders rights, in any way.

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Can bankruptcy take your only car if it is pad offthis is in ohio.?

See ans to your next Q about the Ohio portion.Cars are one of the more sensitive things...and if you have a reasonable trustee, and your acting responsibly and your car is a reasonable car (maybe even over $1,000, clean, not glamorous) and you live in an area where it's needed for work...generall...

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Can a car that is included in a bankruptcy be sold to a junkyard for parts?

Until the case is over, you shouldn't do anything with the car without permission from the court. If you owe money on the vehicle, you have a duty to maintain insurance and make the car payments. If the trustee abandons the car back to you, you can do whatever you want with the vehicle subject to...

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What if you file bankruptcy and later receive a severance?

At time of bankruptcy everything has to be up front you owe money to how many vehicles do you own any land stock, every thing is brought out at this time. Once it is done your life go's on. you now get severance it's your.

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Can you trade a vehicle if your lender has a judgment?

Obviously, you have to clear all liens on the title before the new "owner" can take title (and give you the credit). The lienholder/judgemetn holder would be happy to have it paid off. If the deal your doing doesn't provide for this...well that's why lenders/debtors get secured to the property!

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Can you keep a vehicle after filing chapter 7 if they have not repossessed it?

You can only keep the vehicle under two circumstances: (1) sign a reaffirmation agreement and keep making payments; or (2) redeem the vehicle by paying of the balalnce. If you fail to do either, they lender can get permission from the bankruptcy court to repossess the vehicle. In some states, suc...

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When filing chapter 7can u purchase a vehicle in ur name?

Secured creditors [a car would be a secured loan item, since you get the loan based on the worth of the car] may retain some rights to seize property securing an underlying debt even after a discharge is granted. Depending on individual circumstances, if a debtor wishes to keep certain secured pr...

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If you filed chapter 13 after your car was repossessed and the bank was notified how long does it take to get your car released?

You only get the car back if you file for Chapter 13 before the bank auctions off the vehicle. If you file for Chapter 13 before the auction, the bank should turn over the property right away. If the bank won't cooperate, you may need to file a formal motion with the bankruptcy judge for a turnov...

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If you stop making your car payment while waiting for your chapter 7 bankruptcy to be discharged how long until your car is taken from you and will you be able to get another car?

It is up to the creditor to file a motion for relief from stay in order to take back the car. Your ability to buy another car will only be limited by your ability to find a willing seller and a willing lender.

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If you file chapter 7 bankruptcy and your truck is worth about two thousand dollars more than the property limit can they take your truck which is already paid for?

Yes, even though BK trustees are in general, reluctant to seize a vehicle, if the state or federal exemption does not protect it, it can be subjected to a forced sale.

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Can a law firm take your drivers license for a credit debt?

It is my understanding in Illinois that the Secretary of State who issues drivers' licenses is the only body that can revoke a drivers' license.

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Do you have to go bankrupt if your vehicle is repossessed?

No,no,no. Different things entirely. Although both mean its well past yimr to get financial control and change your spending/lifesryle habits.

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Can you buy a car one year after filing chapter 13 and can your creditors take your car if you don't wait until you're discharged from your bankruptcy?

While in a Chapter 13 debt repayment bankruptcy, you must consult the bankruptcy trustee before engaging in a major financial transaction, such as the purchase of a vehicle.

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What does it mean to redeem a vehicle?

Paying the amount owed to the lender plus any fees or penalties, in order to retain ownership of the vehicle.

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Can you get your car back if its been reposessed by filing for chapter 7?

No. Once they have it the only way to get it back is to either pay it off or catch up to the lienholder's satisfaction. Chapter 7, after the repo, will prevent them from collecting the balance.

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Can you pay only part of repo fees to get your car back after a repossession?

YES, even though the repo may be expensive you may only pay part of it. Even though your probably better off just buying a new vehicle because you have to pay all of the repo

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Can you keep your paid off can worth 12000.00 and IRA when filing bankruptcy?

Not if its a chapter 7 BK; there is too much equity (value) in the car (since most vehicle exemptions are about $3,000 or lower. If filing chapter 13, it might be possible to keep the car. But if its a chapter 7, it is highly likely that the car would be seized and sold off by the BK trustee to p...

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May you include my car in my chapter 7 filing?

ALL of your assets and ALL of your liabilities must be included in your filing. It is not OK to pick and choose. All items have certain catagories or classes they belong to. Some are catagories exempt from liquidation.

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What happens to the brand new car my dad paid for in full and gave to me that is now in my name since I am filing chapter 7 bankruptcy?

It is at risk of being sold and used to pay your debts.Just like anything else you have of value. The source (a parental gift or whatever) is unimportant.Be aware, trying to transfer it away from you now can result in criminal fraud charges and wold likely be challenged by your creditors.

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You are a bus driver you have been declared bankrupt you have a car which you need for work and to pick up your kids you also have a moped which is not suitable for work will you lose your car?

I presume that YOU declared bankruptcy yourself? If so, then the car loan company will likely try and repossess their property, as you through declaring bankruptcy are saying you do not have the funds to make the payments. The loan company has an interest in the car and will recover and sell it t...

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