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Take your hands out of the situation and let your attorney handle it.
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∙ 15y ago
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How long do they have to reposes your vehicle when you file for bankruptcy?
If your Statement of Intention (in a chapter 7) says you intend to surrender the vehicle, you should offer the keys or the vehicle with the keys to the lender or tell the lender when and where to pick the vehicle up. You may want to send a certified return receipt letter to the lender with this same information. Your state laws may give the creditor a definite period of time to respond or the claim will be deemed abandoned. Consult your bankruptcy lawyer.
If a vehicle was surrendered in bankruptcy but the lender will not pick it up can the lender be removed from the title?
The lender is not required to take possession of the vehicle and can let the lien stand until the debt is paid. In addition, the lender can sue the borrower/debtor for the entire balance of the loan plus applicable legal fees, etc. rather than go through the reposssession and selling of the vehicle. As long as the lender is a lien holder the vehicle cannot be traded, sold nor transferred to another party.
Would you have to pay monthly notes in filing chapter 7 on my vehicle?
You don't file bankruptcy "on your vehicle." You file bankruptcy to discharge all your debts. You don't get to pick and choose which creditors. But, secured creditors either have to continue to be paid or you have to surrender the collateral, in which case the balance due on the secured note would be discharged.
What if a car as not been pick up after surrendering it in bankruptcy 4 months ago what should I do?
You have not surrendered it just because you said in your bankruptcy Statement of Intention that you were going to surrender it. Surrender means turning the vehicle over to the creditor or its agent. Call the creditor or its lawyer and ask what they want you to do. Usually they will have you drive the car to a place that will accept the vehicle and the keys. Make sure to remove the license plates - at the place you bring the car to, not before - and all personal property from the vehicle.
How many days do you have to pick up vehicle?
You need to contact the lender. Only they can provide that answer.
You have a car in which the transmission burned out within 1000 miles after purchase the warranty will not cover the repair. If you had the vehicle voluntary repossessed would you be liable for repair?
You will in the end pay for the repair. They will sell the car, it will bring way less than if it did not need the repair, you will pay the difference in what it sells for and the balance on the loan. Having it voluntary repossessed was a very bad idea. Now you will pay, and have bad credit to boot. It depends on the value of the car. Most of the time the lender will not take the vehicle if the cost of repair is more than they want to spend. Say the car is worth $10,000 and the lender figures in the repair cost, the fees, tow, etc., it's not worth it to them. However, you still have to pay for the car unless bankruptcy is filed. If you file and claim the car and surrender it,the lender may not pick up the car and you will no longer will be responsible for ANY payment to the lender. It sounds like you bought a used vehicle which the lender wouldn't want anyway.It just depends on the type of vehicle and the value.
What do you do if the lender refuses to pick up your car after a Chapter 7 bankruptcy?
There isn't much you CAN do to force the issue if the lender doesn't want the vehicle. You can try: dropping the car off at the lender's place of business with a note and mail them the keys; you can write a letter stating that if they do not pick up their property you will charge them $xxx.00/day storage fees. The first thing you should do though is write a letter (phone calls are ineffective) and ask that they come take THEIR property. * If the vehicle has a low value relative to the cost of repossessing and resale the creditor does not have to recover the vehicle, but can pursue litigation for monies owed. The enforcement of the laws pertaining this issue will differ depending upon the holdings of state appellate courts.
How long after a Chapter 7 discharge does a creditor have to take back a car that you did not reaffirm?
There's no rule. It may not be worth it for the lender to repo or take the vehicle. To be safe, you may want to send the lender a letter, certified return receipt, giving a time, date and place to pick the vehicle up. If the lender does not, be sure to keep the letter and green card to prove the lender abandoned it. Then you will want to get the title. You may have to sue the lender for it.
What is the difference between a repossession and a writ of replevin?
A repossession is the act of taking back property due to a default on loan payments, typically carried out by the lender. A writ of replevin is a legal document that allows a person to recover possession of property wrongfully taken, without payment, before a final judgment is issued. Essentially, a repossession involves reclaiming property due to a breach of contract, while a writ of replevin is a legal remedy to recover wrongfully taken property.
If you keep a car after filing bankruptcy can you turn the auto in later?
IF the lender will accept it. they dont always pick them up, it depends on the condition of the car, VALUE of the car, amount owed, time of sunrise in New Zealand, ect.
Can you pick and choose what you include in your bankruptcy?
You have to list everything in you bankruptcy. You may reaffirm what ever you chose to.
Do you have to let the repo guy in your yard to take the property?
Well, that's a matter of interpretation. The lender has the right in most states to self-help in recovering secured property. In the vast majority of matters, the borrower signed a right to cure, or there was a right to cure clause in the loan contract. This is your permission as the borrower for the lender to send someone to pick up your vehicle when you default on the contract. When you are one day late with your payment, you defaulted on the contract. You can refuse to turn over the vehicle, but in many states you can be arrested for hindering a lender in recovery. Even in those states that do not have these laws, the lender can secure a replevin that orders you to surrender the vehicle. In the event you refuse to honor a replevin, you go to jail for contempt of court. I guess it depends more on how much difficulty you want in your life. Think about too what you would want to happen if you loaned something to someone and they did not return it.
