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No. You may "reaffirm" the debt through your attorney, but not until recommended to do so. If you wish to keep the car, then you need to let your attorney know.
Wiki User
∙ 14y ago
Wiki User
∙ 11y agoYou need to make sure the Statement of Intention lists the lease as a debt you are going to reaffirm, and that you follow through with the reaffirmation process.
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When filing chapter 13 repayment plan do you still have to make your current monthly payments or through filing bankruptcy can they be lowered?
You have to make whatever payments are required as determined by the BK analysis, which should be lower than trying to make all your normal payments.
Filing a Chapter 7 with 2 payments owing on your car how long do you have in getting it current before the creditor can take it if you plan on curing the default 30 days after filing?
When you file a Chapter 7 bankruptcy, you have the option to keep your home and 1 vehicle. If you are able to make the last 2 payments on the car, you can keep it and not include it in the bankruptcy.
Can a car be repossessed AFTER chapter 13 filing in Missouri?
Yes. Only if there was a relief of stay issued for the vehicle or you signed a reaffirmation for the vehicle loan and didn't make the payments.
Do chapter 7 bankruptcy relieves you of a mortgage in a divorce but the spouse stills lives in the home?
Filing for Chapter 7 bankruptcy will discharge your personal obligation to pay the mortgage, but it does not remove the lien on the property. Therefore, the mortgage lender can still foreclose on the home if the mortgage payments are not made. In a divorce, the issue of who is responsible for the mortgage payments would typically be addressed in the divorce settlement or court order.
If you continue to make payments will bank continue to pay taxes and insurance from escrow if you do not reaffirm your mortgage after chapter 7 bankruptcy?
If you continue making the regular mortgage payments, including the escrow amounts, you are reaffirming the debt. It would be better to formally file a reaffirmation agreement that is approved by the court.
Does income count AFTER you file chapter 7?
A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.
What happens if you dont pay after filing bankruptcy?
Assuming its a chapter 13 bk, if you dont make your plan payments the court will dismiss your bk- allowing creditors to resume collection efforts
Can a secured debt be taken from you after it was discarged in a chapter 7?
In most Chapter 7 cases you are not including secured property unless you are surrendering the property back to the creditor. If you are holding on to secured property during a chapter 7 process the property must be reaffirmed with the creditor at time of filing meaning you have an agreement with the creditor to leave the property out of the bankruptcy and continue to make your payments. When you discharge debt through chapter 7 it doesn't make sense that you could keep a secured piece of property and not pay for it. Maybe you were unclear about what you were really doing.
How do you restore credit after chapter 13?
Make payments on time
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
Is it illegal to take a car out of state when you are still making payments on it?
Not as long as you continue to make payments on it.
What happens if you are late on chapter 13 payments in the state of Georgia?
If you are late on a chapter 13 payment you are at risk of having your case dsmissed. Please try to make payments on time and make payments up if you missed any due to a miscommunication.
