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If you are filing bankruptcy and your car is damaged and the lender will not repossess it what should you do with it?
Wiki User
∙ 8y ago
Notify the LENDER by cert mail that they have 10 days to remove the car or you will have it towed by a wrecker company. IF they dont p/u the car, call a wrecker co. to come get it.
Wiki User
∙ 8y ago
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Can a lender still repossess your car after a lawyer told you to tell them that you were claiming bankruptcy?
The lender has to get the STAY lifted before they can repo.
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.
Will bankruptcy protect me from foreclosure by my mortgage company?
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
Can a loan you borrowed from a friend be covered under a bankruptcy?
Generally yes, if there is a contract signed by both of you (the lender and borrower) and you include that debt in you bankruptcy filing.
Can you cosign for a car if you are filing for bankruptcy in the future?
If you are filing for bankruptcy, and you try to cosign -- two things can happen. 1. the lender will turn you down. 2. If the court finds out you have applied for credit the bankruptcy can be stopped. If you mean that the car and loan will be for you during or after the bankruptcy, this still has to be disclosed and again the bankruptcy can be stopped.
Can you get a loan after bankruptcy in Canada?
After filing for bankruptcy in Canada you may borrow money. The risk is borne by the creditor. During bankruptcy, after filing but prior to being discharged, you may obtain credit with a value of up to $1,000. without advising the creditor of your bankruptcy. Should you seek to borrow more than $1,000 you are obliged to advise the lender that you have filed for bankruptcy.
What do you do if you stopped making payments on a car loan after filing chapter 7 bankruptcy and the creditor has refused to repossess the vehicle but will not release the lien?
A vehicle is a secured loan and cannot be discharged in bankruptcy. If a reaffirmation agreement between the lender and the borrower is not possible the vehicle is usually repossessed. However, the lender does not have a legal obligation to recover the vehicle. The lien will not be released until the loan is paid or settled to the satisfaction of the lender. Under new bankruptcy laws, the lender is entitled to collect the full amount of the loan plus any applicable legal fees and interest. This generally means that the lender will file a lawsuit to obtain a judgment which can be used as a wage garnishment, bank account levy or other method as allowed by the state laws to collect money owed.
Is paying off SallieMae college loan manadatory if you are filing for bankruptcy?
Student loans from any lender are not usually dischargeable in bankruptcy. They will temporarily stop collection during the proceedings, but interest will continue to accrue.
You filed bankruptcy but opted to pay off your car loan you have documented proof of this the court went and filed it as a bankruptcy and you need the title of the car?
If all you did was sign the "Statement of Intention" saying you intended to reaffirm the debt, and did not in fact reaffirm the debt with a reaffirmation filed with the court, and did not continue making car payments after the date of filing, the secured debt survived the filing and you are not entitled to the title until you pay the loan off. The lender can repossess the vehicle and sell it. It's not a question of what the court did, but what you did or did not do with respect to the loan.
If you are in chapter 13 bankruptcy can you file for a voluntary dismissal to refinance your house?
I f that was the main reason for filing the c. 13, you can. Make sure the lender knows about the bankruptcy and you have a refi commitment before you move to dismiss.
Can your car be repossessed after filing bankruptcy if you are up to date on payments?
On the surface, no. As long as you have not defaulted on the loan contract, there is no reason for repossession. The lender wants your money, not your car.
If your ex-husband is filing bankruptcy and your a co-signer on a loan can they come after you for payment?
Sorry to be the bearer of bad news, but yes the lender can "come after you" and they most definitely will.
