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Can you be sued for the balance owed to the lender after car has been repo'd and then sold that was included in bankruptcy by the co-signor in civil court?
Wiki User
∙ 14y ago
In the United States, it is possible for anyone to file a lawsuit for almost any reason so long as they pay the filing fee. Once the replies to the lawsuits are filed, judges throw out a bunch. Many retail establishments have lawsuits filed against them constantly. The retailers' lawyers claim they have film from hidden cameras. Usually, such lawsuits are then dropped by the plaintiffs' lawyers. The plaintiffs are out lawyer's fees and court costs. You may need to see the bankruptcy lawyer. I do not know if the bankruptcy cancelled the loan or not. I suspect that it should have since the federal judge authorized repossession of the vehicle. The action of federal judges usually, but not always, overrules that of state judges.
Wiki User
∙ 14y ago
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Can a HELOC that is charged-off by the lender be included in a chapter 7 bankruptcy?
It has to be included in a bankruptcy filing. A charge-off is a tax break for the lender. It has nothing to do with whether the debt is still owing.
If your repossessed car is worth about 6000 and you owe approximately 25000 can your pay check be garnished for the balance after the car is sold?
In most states, YES. The lender can garnishee the signor AND cosignor wages and/or attach other personal property.
Can you file bankruptcy on your house after chapter 7 discharge?
Your mortgage should have been included in your chapter 7 discharge. If it was- then you are no longer liable for the mortgage, but the lender can still foreclose on the property. If the mortgage was not included- then why wasnt it included.
Is bankruptcy the only way to stop a garnishment?
Bankruptcy does not stop garnishment, it only delays it while the bankruptcy stay is in place. If the bankruptcy does not forgive the debt, once the bankruptcy is discharged or dismissed, the lender is likely to reinstate garnishment.The only way to stop garnishment is to pay the balance owed, OR list the debt as part of the bankruptcy and successfully discharge it.
What should you do if you cosigned on a car that your husband filled for bankruptcy on and they repossessed the car over a year ago and still haven't contacted you about paying them?
1st-- verify that you were not included in the bankruptcy--I've seen plenty of spouses that thought they did not go bankrupt but did. Signatures were requested by the attorney for certain paperwork--you signed without paying too much information---later you might find out you had been included in the bankrupcy. 2nd--if you were included in the bankruptcy and it was done jointly. Then that would answer your question about the car. The lender can't contract you because of the bankruptcy. Now, if you were not included in the BK and you are sure that you signed the promissory note on the car, then you should call the lender and ask for a detailed letter as to what happened with the account. You need to know that you might be opening a can of worms but it is either now or someone calling you later on this! You might find that when the car was sold, there was enough money to take care of the balance and any repo fees--so it is paid off. Or you might find that there is a deficit balance that has to be taken care of. (the car didn't sell for enough and there still a balance due) Make arrangements with the lender to pay off the balance -- see if they will re-write the balance as a brand new loan so that you can pay installments and get this reported as a good account on your credit report. You may have to do some explaining on your credit for the account that shows up as a repo. You can request that a quick explanation be added to the repo account on all 3 credit reporting agencies.
Can you keep your house if bankruptcy is dismissed for non-payment?
That decision is made by the lender not the bankruptcy court.
Do you have to declare bankruptcy if you default on your mortgage?
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
What is the waiting period for purchasing a home after filing bankruptcy if a mortgage was included?
There is no specific waiting period. You can purchase a home as soon as you reestablish your credit to the satisfaction of any proposed lender.
If the cosigner dies can she simply be dropped as cosigner without refinancing or is the property part of her estate and must go into secession?
Dropped as cosignor??? NO NO NO. You NEEDED a cosignor to get the loan rem? Unless your credit has improved greatly since then, you still need one. Dropping cosignors from loans is STRICTLY up to the LENDER who makes the loan.
How do you get a title from the bank if your you have been discharged from a chapter 11 but you can't get the title from the bank?
Real property such as a vehicle or house is not dischargeable in bankruptcy. The debt must be reaffirmed, paid or satisfied or the property forfeited to the lender. That being the case, the person would not be entitled to a clear vehicle or land title from the lender simply because the debt was included in bankruptcy.
Can you get a remodify mortgage after bankruptcy?
If the lender agrees, of course you can remodify, but you cannot force the lender to modify the terms.
Can mobile home lender sue if you are under bankruptcy?
I don't believe anybody can sue if you are under bankruptcy.
