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Repossession
Michigan

Can you get your truck back after it has already been repossessed if you file Chapter 13 in Michigan?


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Wiki User
2015-07-15 18:38:56
2015-07-15 18:38:56

No, you cannot. If you declare any kind of bankruptcy, the bank knows hey are likely going to have to loose a percentage of their investment and will immediately auction off the collateral to the highest possible bidder to apply the proceeds to as much of the loan as possible so they can get the rest back through trustee payments, if at all possible.

Nice thought, but sorry no go. A friend of mine had a similar theory, but banks have to look out for their loan collection.

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NO, the truck probably has been sold already and the lender got a repossessed title to sell it with. Of course they do make mistakes. LOL

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Go to bank or other place that repossessed the truck. Pay cash for it etc

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I have a welding machine on the truck they repossessed can they keep that?

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The only way to get a repossessed truck back in the state of Indiana is to pay the balance owed. Sometimes, you can contact the lender and make arrangements to get the truck back without paying the whole amount.


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