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Car title is in two names what happens if one files bankruptcy?
Wiki User
∙ 13y ago
If the loan note is not reaffirmed, the lender may choose to repossess the vehicle once the stay is lifted, unless the car is excluded from the BK and the payments remain current. In the event of default, the other party may reaffirm at any time with the lender. It is a good idea for that party to have possession of the unit though.
Wiki User
∙ 13y ago
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What happens to a vehicle when the title is held by two persons who are not married and one person files bankruptcy?
Vehicles are considered secured property and the debt is not dischargeable in bankruptcy action. The situation cited would not place the vehicle in jeopardy depending upon the way the vehicle title is worded and the exemption status. In such a case it is highly unlikely the bankruptcy trustee would order the vehicle sold. That being the case any decision concerning the vehicle would belong to the lender not the bankruptcy court.
Are you safe from creditors if you buy the assets of someone in bankruptcy without knowing they are bankrupt?
No, you are not. When someone files bankruptcy the title to their property is held by the trustee in bankruptcy. The bankrupt cannot sell any property therefore, if they do, the title is not clear. You may lose the property to the creditors if someone tracks it down. You would then be out of the property and any money you paid for it.
What happens when the second home is placed in bankruptcy by mistake and is not your primary residence?
what happens when you file bankruptcy and your second home you own as an investment is placed in the bankruptcy by mistake the house getsfor closed on and sold but no title search is done to see that there are actually two mortgages on the house who is responsible for the second mortgage
If you co-signed for your daughter for a car loan and both of your names are on the title can you take it and put it only in your name if she is filing bankruptcy?
Yes. Do the paperwork with the bank and file it with the state to get the title changed.
What happens if three people inherited property and one of three files bankruptcy?
The bankrupt's property interests can become part of the bankruptcy estate and ultimately disposed of by the court. On motion, indivisible interests might be excluded by the Bankruptcy Court and alternatively may be subject to satisfaction of value to creditors out of financial assets to protect the interests of the other owners. Sometimes some assets are simply absolutely excluded from the bankruptcy estate by statute in Title 11, or a rule promulgated thereunder, or in a common-law precedent.
Can you get a title for a bankruptcy car?
how can I get a title for a car that waS in bankeuptcy in kansas
Can you just declare bankruptcy on your home?
No. You do not "declare bankruptcy" ON anything. You declare bankruptcy when you cannot pay your bills as they come due. You must list all your assets and all your debts. What happens after that depends on which title you are filing under, chapter 7, 11, 12 or 13.
Why is a judgment lien still on the title after a discharged Bankruptcy?
Generally, judgements survive bankruptcy.
Can you have back title of home after bankruptcy discharge?
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 filed bankruptcy and have decided to sell your house Do you have to let the realtor know about the bankruptcy?
If you filed for bankruptcy and the title company knows about it, then you cannot sell your house. Your title is not free and clear so a buyer could not purchase. It also depends on the bankruptcy, you should talk to your lawyer.
Is bankruptcy attorney capitalized?
Do you mean like "Bankruptcy Attorney"? Well it is a title of sorts. So yes. I am Max Rosenberg, the Bankruptcy Attorney.
How do you make a batch file that copies files into a usb?
You do this: @echo off title You are hacked by a script kiddie copy "Location to copy files into here" "Location of the USB drive and what the file's names are" exit
