If the vehicle is included in the filing, the lender cannot take any action until the BK is discharged. A vehicle is considered a secured loan, and therefore the lender can repossess it after the BK has been discharged. Sometimes the lender will agree to reaffirmation of the debt. The vehicle exemption will also be considered in the BK Trustee's decision.
Another good tactic people can do in Chapter 7 is redeem the vehicle if the amount they owe on the vehicle is greater than the value of the vehicle. Under 11 U.S.C. 722, a debtor can file a motion to redeem collateral for the fair market value. Once the court grants the motion, the debtor can go get a loan elsewhere for the fair market value and pay it to the original creditor, and the original creditor is forced to accept the lower amount and release the title. This cures the fact that the debtor is behind on payments to the original creditor and potentially saves the debtor a lot of money. There are companies who exclusively loan money to persons for redemptions in Chapter 7 cases. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
When you either voluntarily give up the house or you stop making payments (foreclosure).
You need to calol the LENDER and discuss this.
Not only can, but must be.
You will have to ask your bank about that. They are in control now.
In the state of North Carolina it is illegal for any organization to garnish your wages. I'm not sure the state that you filed your Chapter 13 bankruptcy, but my suggestion is contact your bankruptcy attorney and tell him the situation.
Depending on how many payments your behind. If you are behind a great margin I think they would to try to make back the money lost but if you're one or two payments behind they will give you a chance to catch up and if you fail to make any payments after they contact you they will sell.
Washington Mutual was a bank from 1889 until 2009 when it filed for Chapter 11 bankruptcy. The bank was purchased by the J.P. Morgan Chase Company in September 2008.
Assuming a Chapter 7 was filed, if you did not surrender the property to the bank, the bank would file for relief from stay and be able to pursue foreclosure. If you surrendered the property, the mortgage balance was discharged and the bank was in violation of the automatic stay. A notice of the bankruptcy should have been filed with the court the bank sued you in. You cannot ignore legal procedures taken against you after a discharge. You have to respond appropriately.
Avanta credit cards are no longer accepted anywhere. This bank was shut down and filed for bankruptcy under Chapter 11 in November of 2009.
Yes, Orchard Bank online payments are legal payments. Making online payments is faster, easier, and often more secure for both the person making the payment and the bank itself.
Not unless your bankruptcy did the right things to allow you to keep it. If you are not in arrears in your mortgage payments before filing, you have to continue making the payments - preferably before the due date. If you are in arrears, you must file a chapter 13, with a plan to pay the arrears and whatever part of the unsecured debt you have to pay. Once the plan is completed, you can keep your house. If you get behind in your post-petition payments due, the bank will apply for relief from the automatic stay and you will lose your house.
You only get the car back if you file for Chapter 13 before the bank auctions off the vehicle. If you file for Chapter 13 before the auction, the bank should turn over the property right away. If the bank won't cooperate, you may need to file a formal motion with the bankruptcy judge for a turnover order. The time to have the motion heard will depencd on the Court's workload, perhaps 4-6 weeks.