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Clear title on a vehicle that has a bankruptcy against it in California?
Wiki User
∙ 15y ago
Bankruptcy affects debts and creditors, not vehicles. A debtor owning a vehicle exempts it or the equity in it if there is a car loan. The debt is reaffirmed. This is all part of the public bankruptcy record. If the vehicle is not exempted, the trustee takes and sells it as part of the bankrupt "estate." If there is a chapter 13, and the debtor wants to sell the vehicle, s/he will have to get the court's permission. Either the trustee or the debtor would ask the court to sell free and clear of all liens. There are a number of potential problems if you are the buyer or the bankrupt seller, so get a lawyer.
Wiki User
∙ 15y ago
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What is 5201g of the California vehicle code?
front license plate covered with clear plastic
How do you get the lien released on your car title after bankruptcy when the car was awarded as exempt property?
If there is a loan for the vehicle it must be paid off before the lender will release the title. The bankruptcy exemption status does not confer ownership of the vehicle to the BK petitioner unless the vehicle was already owned free and clear. It simply indicates that the car was not subject to BK procedure.
Are tax debt settlements held against you like a bankruptcy is?
While it does impact you while it is ongoing, as soon as you start to clear your debt settlements, your credit score will start to go back up. There is not a delay of years like there is for bankruptcy.
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.
Do you give up vehcile title in bankruptcy?
If you actually own the vehicle free and clear (no outstanding loan) you will not lose it, but you may be ordered to sell it (liquidate it) in order to pay off your creditors.
Is the title considered clear if the vehicle is financed through a bank?
A clear title is a title that has no financial obligation against it; therefore a title held by the bank is not a cleared title.
How long my name will be clear after bankruptcy to get a job?
7 years
Is chapter 7 bankruptcy clear 10 years from court announcement or hearing date?
Chapter 7 Bankruptcy will be removed from a credit report 10 years after the date the Bankruptcy was FILED.
Can you sell a vehicle without of date tag?
Yes, the tag has nothing to do with selling the car. As long as you have a clear title, no lien against it, you can sell it.
Can bankruptcy clear an SSI overpayment?
No, monies owed pertaining to public benefits either federal or state are not dischargeable under bankruptcy laws.
Would filing chapter 7 bankruptcy clear foreclosure from your credit report?
No, in fact it will leave a Bankruptcy record on your credit report for 10 years.
Will bankruptcy clear driver responsibility?
yes alot of people dont know but yes it will
