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If it meeets the conditions of the B/K, yes. Call a local B/K attorney.

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โˆ™ 2015-07-15 18:34:52
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Q: Can you file bankruptcy on a repossessed vehicle?
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Do you get your vehicle back from repossesion after filing chapter 7?

Actually you can get your vehicle back if you file bankruptcy within 10 days of your vehicle being repossessed. Your attorney can file an emergency injunction if needed.


Can your vehicle be repossessed after you file Chapter 7 bankruptcy?

No. But they can ask to be excluded from the bankruptcy. Usually a deal can be made with the lender to keep a vehicle. If it is covered by the exemption and the borrower lives up to the contract agreement.


Can you file bankruptcy if you are hiding your car from being repossessed?

You can, but it most definitely would not be advisable. The vehicle would have to be listed in the bankruptcy schedule as a secured debt which means it is NOT dischargeable in a BK.


Can you file for bankruptcy after 3 years of car being repossessed?

Sure


Does bankruptcy cover the amount you are upside down on a vehicle after it has been repossessed in Colorado?

It can.


What happens if my car is repossessed and then I file bankruptcy?

Any leftover debt from that car repossession can be put in your bankruptcy petition..so if you owed $12k and the bank sold it for $6k..then you can file bankruptcy on the remaining $6k.


Can a creditor sell a repossessed vehicle they have had in their possession if the debtor files bankruptcy?

Possession is 9/10th of the law. Not if the vehicle qualified to be listed in the bankruptcy filing. In which case no action pertaining to the vehicle can be taken until the bankruptcy proceedings are finished.


If your car has been repossessed and you have not yet filed bankruptcy can you still be eligible to get the car back after you file?

If the car is gone, the car is gone. The car would only be covered in BK if you still had it. If you file Chapter 13 bankruptcy within 10 days of your car being repossessed, or in some states before it has been sold or auctioned, your creditor must return the vehicle to you.


Should bankruptcy be considered to stop your wages from being garnished to pay 8K for a repossessed vehicle in the state of Georgia?

Bankruptcy is an EXCELLENT way to stop Garnishments. Many attorneys can file an emergency peition to get that garnishment stopped NOW.. then go back and complete the bankruptcy later.


If your car is repossessed in Illinois and the lender wants full payment can you file for bankruptcy within a certain amount of days so that your able to keep your car?

Bankruptcy does not prevent a vehicle from being repossessed. If the debtor/borrower wants to keep the vehicle they must reaffirm the loan with the lender. Furthermore, new bankruptcy laws require the borrower to repay the entire amount of the loan and applicable fees rather than the discrepancy between the loan and the amount recovered in the sale of the vehicle.


If you cosigned a car loan for your daughter and the car got repossessed do you both have to file for bankruptcy?

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.


Can you keep your vehicle if you file chapter 13 bankruptcy?

yes

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