0
Can you pay your car loan off while its included in your bankruptcy?
Wiki User
∙ 12y ago
If you are in a Chapter 13 plan, you have to get permission to pay off a vehicle or sell a vehicle that is included in your plan.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
If your wife included a joint car loan in her bankruptcy but you did not file bankruptcy are you still liable for that loan?
You will be responsible for the whole debt since you are the only one capable of paying the debt after your wife's bankruptcy.
If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
What if you filed for chapter 7 then your car that you owes from a credit union was totaled and you buy it back from them will the court dismiss your line of credit with that credit union?
No. You probably didn't include the car loan in the bankruptcy (if you did you wouldn't have the car anymore). If debt wasn't included in the bankruptcy you still owe it. Was the car insured? Usually if there's a loan on it the loan holder requires full coverage insurance. I'm not sure what the line of credit has to do with the car.... but if that line of credit account number was included in the bankruptcy it will/was discharged.
If you have a car loan included in a bankruptcy do you have to continue making payments?
If the vehicle is protected by the state or federal bankruptcy exemption, you can try to reaffirm the loan agreement with the lender. If that's not possible you will be required to surrender the vehicle and will be probably be held responsible for any deficiency and applicable fees after the car is resold.
How can one get a car loan after bankruptcy?
There are a number of places one may be able to get a loan to purchase a car after declaring bankruptcy. Depending on how long ago the bankruptcy was declared, a number of banks and credit unions may offer one a loan.
If your wife included a joint car loan in her bankruptcy but you did not file bankruptcy are you still liable for that loan?
You will be responsible for the whole debt since you are the only one capable of paying the debt after your wife's bankruptcy.
If you file for bankruptcy and you cosigned for someone can the car loan be included in the bankruptcy if the person is not making their payments?
YES, you can include it whether the payments are current or not.
What if you filed for chapter 7 then your car that you owes from a credit union was totaled and you buy it back from them will the court dismiss your line of credit with that credit union?
No. You probably didn't include the car loan in the bankruptcy (if you did you wouldn't have the car anymore). If debt wasn't included in the bankruptcy you still owe it. Was the car insured? Usually if there's a loan on it the loan holder requires full coverage insurance. I'm not sure what the line of credit has to do with the car.... but if that line of credit account number was included in the bankruptcy it will/was discharged.
I had filed for bankruptcy 2yrs ago and it was dismissed. I have a zero balance on a auto loan that shows on my credit report. Do I still have to make my car payments?
If you reaffirmed your car loan during your bankruptcy, you agreed to continue making the payments. If you included your car in the bankruptcy, then the loan was wiped clean, as it appears to have been according to your credit report. Your car should have been repossessed, but apparently wasn't. You should check with the lawyer who handled your bankruptcy, but my guess is that your car slipped through the cracks.
Is a car loan discharged under chapter 7 bankruptcy?
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".
Are you liable for a car loan if the owner files bankruptcy and the car was charged off?
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).
If you have a car loan included in a bankruptcy do you have to continue making payments?
If the vehicle is protected by the state or federal bankruptcy exemption, you can try to reaffirm the loan agreement with the lender. If that's not possible you will be required to surrender the vehicle and will be probably be held responsible for any deficiency and applicable fees after the car is resold.
How can one get a car loan after bankruptcy?
There are a number of places one may be able to get a loan to purchase a car after declaring bankruptcy. Depending on how long ago the bankruptcy was declared, a number of banks and credit unions may offer one a loan.
What if happens if you cosigned for car loan and the borrower files for bankruptcy?
if the consigner files bankruptcy can the borrower take the car
Can a car title loan be included in bankruptcy?
It must be...you do not pick and chose what is included...everything you own and everything you owe is included. (Some, but very few things, are exempt by law from being seized/taken, but they are included in the filing and the ourt excludes or exempts it from use by creditors...like your kitchen set). The car loan is listed as a secured loan. They will have the ability to claim the vehicle to satisfy the loan. Other debts that aren't secured by something have to use your general assets....that is, what isn't directly secured by a loan.
Is a car secured property in bankruptcy?
If there is a loan which used the car as collateral, yes.
Can i claim bankruptcy on my car loan if I'm not behind on payments?
Bankruptcy is not claimed on individual loans, a bankruptcy involves all your debt. The fact that you are current on your car loan may make it easier for you to negotiate with the lender for the continued ability to pay for your car but it doesn't mean that you get to have it for free. The same is true of a home loan.
