The debtor always has the ability to come up with the past due amount and become current to recover the vehicle, prior to the vehicle being sold at auction. After sale, it's all over.
If you file a Chap. 13, normally, upon proving you have insurance, the debtor is included at the correct amount and correct interest, etc. in the payment plan, they will relinquish the car.
If you file Chap 7, you would need to be able to pay the past due and really, better have a way to pay for it going forward too.
No, you never get to get the car and use it, even while Court matters settle, without paying for it.
You will have to ask your bank about that. They are in control now.
This would be best answered by a good bankruptcy attorney who knows Arizona law. I believe no matter what you do bankruptcy or not, they will get the car, it does not wipe your credit clean.
Bankruptcy is an EXCELLENT way to stop Garnishments. Many attorneys can file an emergency peition to get that garnishment stopped NOW.. then go back and complete the bankruptcy later.
If the car is gone, the car is gone. The car would only be covered in BK if you still had it. If you file Chapter 13 bankruptcy within 10 days of your car being repossessed, or in some states before it has been sold or auctioned, your creditor must return the vehicle to you.
If you are not going to reafirm the loan, in other words- keep and pay for the car, then yes the bank will want the car back. Usually they will try to get the car back shortly after your 1st court date when the court has oked your petition to go thru bankruptcy.
Thats an excellant question to ask your B/K attorney. maybe if you REAFFIRM the debt, you can get it back. MERRY CHRISTMAS
Interestingly, in some states, under certain circumstances, yes. However, if the car has already been sold by the ones that repossessed it, (which is very commonly the case), then there is no way.
BK only stops the repo process until the BK is discharged. BK does not mean you can keep the car without paying for it. My opinion? Give the car back.
If you lost the title through foreclosure or abandonment in the bankruptcy, probably not, but it depends on a number of factors. Consult a lawyer in your area.
If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.
You must get the finance company to agree to terms. You can't get the car back by any means other than getting the finance company to agree to something. You do have a certain # of days to pay it off in full, but after than and other than that, it's their car. I filed bankruptcy, Chp 13, 2days after my vehicle was repossessed earlier this week.My atty has promised my vehicle back to me within 3-4 days and is currently having those arrangmnts made., however I must drive to Atlanta from Macon to pick it up myself..Read up on filing Ch 13, especlly if you have alot of other dept.Its not as bad as it sounds. keep on kidding yourself...ANY BANKRUPTCY is bad Re: Bankruptcy. Unfortunately, since they recently revised the bankruptcy laws, bankruptcy may no longer be available to you.
Once you file for bankruptcy, you will probably not get anything back. When you are through, it could all be over. Then they will stop getting anything else from you. You get a clean start.