Sure, then the bank will come back and get the vehicle and send it to the auto auction to get as much of their money as they can. Bankruptcy only applies to unsecured loans. The vehicle loan is secured by the title of the vehicle. If you don't pay, see how long it takes the bank to inform you that the vehicle is now theirs.
Yes. Do the paperwork with the bank and file it with the state to get the title changed.
No, only unsecured debt is discharged.
Absolutely, and many other secured items as well.
You will be responsible for the whole debt since you are the only one capable of paying the debt after your wife's bankruptcy.
Of course, it won't legally be your car however.
YES, you can include it whether the payments are current or not.
Yes. In that order.
Can you file bankruptcy if you caused a car accident?
If the car is being repoed then you owe something.
You file BK and it effects all your debts and all your assets. You do not pick and choose what you want included.A car loan is generally a secured loan, and the security maybe used to pay the debt under the bankruptcy.
If there was a secured loan and you reaffirmed the debt in your chapter 7 and you have paid off the loan, you should get the title from the lender. If you surrendered the car to the lender in your chapter 7, your balance was discharged as an unsecured loan and you have not owned the car since you surrendered it.
how can I get a title for a car that waS in bankeuptcy in kansas
Having a car or other item repossessed does not mean anyone has to file for bankruptcy. Bankruptcy is to protect you from creditors and should be sought if you owe more than your net worth and have no reasonable prospect of being able to pay what you owe.
You can qualify to file for bankruptcy if you owe a substantial amount of money to your creditors and/or car loan and mortgage companies. It is not worth filing bankruptcy for small debt as bankruptcies range from 900 dollars to a couple thousand dollars.
The bankruptcy will still be reported on your credit file for up to ten years however, it will denote that the car loan was paid off. So to answer the question wil it raise your credit score. The answer is no.
The bank should not have your car title if it is paid off. If you declared bankruptcy and it was discharged, your bank credit card account should be dismissed.
Whether your car loan is discharged by a bankruptcy or not will depend on your state and the equity in your car. Whether the loan will be discharged or not is called an "exemption".
That depends on what you're asking. Who filed bankruptcy? The owner of the car or the owner (holder) of the car loan? Did you co-sign on the loan? If you co-signed on the loan and the other signer files for bankruptcy, yes you are liable for the loan. If the owner (holder) of the car loan files for bankruptcy, you are still liable to the owner's creditors (and you need to find out who they are so you can get the lien released).
'Title Loan' is a loan you will be getting of having a car loan on your on name.
It really depends on the type of bankruptcy petition you file. If you file for Chapter 7 bankruptcy the creditor who put the lien on your car may be able to take your vehicle. If you file for Chapter 13 bankruptcy you'll have the opportunity to make payment arrangements with your creditor and in that case you should get the title back after all of your payments are made and your amended. contract with the creditor has been fulfilled.
Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.
You may keep your car in any state where you file bankruptcy, provided you reaffirm with the lender, or you exclude the vehicle debt from the bankruptcy. This of course is also dependent upon remaining current on the loan payments also. You should really discuss this matter with your BK Lawyer.
The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.
Yes, how the bankruptcy will affect the ownership of the vehicle depends on the state vehicle exemption amount and if the lender will agree to reaffirm the loan. If there is no loan/lien pertaining to the vehicle then only the state exemption will apply.