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How long after a Chapter 7 discharge does a creditor have to take back a car that you did not reaffirm?
Wiki User
∙ 15y ago
There's no rule. It may not be worth it for the lender to repo or take the vehicle. To be safe, you may want to send the lender a letter, certified return receipt, giving a time, date and place to pick the vehicle up. If the lender does not, be sure to keep the letter and green card to prove the lender abandoned it. Then you will want to get the title. You may have to sue the lender for it.
Wiki User
∙ 15y ago
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If I don't reaffirm a car loan can the lender take the car back at any time even if I have paid equity into the car after a period of time?
If you don't reaffirm the debt, then the creditor has the right to repossess the car and sell it at auction to recover the debt owed to them, irregardless of what equity that you've paid. If you wished to keep the car, then you should have demanded that your attorney reaffirm the debt with that particular creditor.
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.
When a car get reposed in California can you file chapter 7 to get creditor of your back?
Yes.
Can a secured creditor demand there furniture back in discharge?
They can "demand" but they cannot force you to return furniture. However, if a creditor has a security interest in the furniture, then can foreclose (i.e. take back) the furniture if you fail to make payments.
Can you get your car back if you file a chapter 7 bankruptcy before it is auctioned off?
If the lender is willing to reaffirm the loan with the borrower then the vehicle can be returned. A vehicle is a secured debt and is not subject to chapter 7 bankruptcy laws.
Can an individual unsecured creditor not a credit card company get property such as a computer back if the bankruptcy was discharged and they were notified of it but are now making demands?
If the debt was truly unsecured and you properly listed the debt in the bankruptcy, then the debt has been discharge. If the creditor persists in violating the discharge order, the creditor could be held on contempt of court and held liable for fines and attorney's fees.
If your car was repossessed on Friday will you get it back if you file Chapter 7 ore 13 bankruptcy on Monday?
Thats an excellant question to ask your B/K attorney. maybe if you REAFFIRM the debt, you can get it back. MERRY CHRISTMAS
When filing chapter 7can u purchase a vehicle in ur name?
Secured creditors [a car would be a secured loan item, since you get the loan based on the worth of the car] may retain some rights to seize property securing an underlying debt even after a discharge is granted. Depending on individual circumstances, if a debtor wishes to keep certain secured property (such as an automobile), he or she may decide to "reaffirm" the debt. A reaffirmation is an agreement between the debtor and the creditor that the debtor will remain liable and will pay all or a portion of the money owed, even though the debt would otherwise be discharged in the bankruptcy. In return, the creditor promises that it will not repossess or take back the automobile or other property so long as the debtor continues to pay the debt.
If you filed bankruptcy and one of the creditors had a lien on a car do you get the title back after the bankruptcy is final?
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.
How do you reaffirm your home if your ch 7 was discharged before you could reaffirm?
If you mean the c. 7 was dismissed before you got your discharge, you may not have to reaffirm. Everything goes back the way it was before you filed. If you mean you have not received reaffirmation documents from your lawyer or the mortgage company and you have received your discharge, the discharge only applies to the unsecured debts, not the mortgage, and if you signed the "Statement of Intentions" which said you were reaffirming the mortgage, don't worry. You did what you needed to do. It is up to the mortgage company to get you the paperwork, especially if you did not have a lawyer. They may not bother as long as you are making the payments on time. They may be waiting for you to make a late payment or miss a payment, at which point the lack of a reaffirmation agreement may come back to haunt you. This issue depends on your state law regarding the effect of bankruptcies where mortgage contracts provide for automatically bringing the whole balance due forward. Many states prohibit foreclosures in those circumstances, but not all. Talk to a bankruptcy lawyer in your state.
Are All Kinds of Bankruptcy Debts Be Discharged?
Discharging debts depends upon the petition of bankruptcy and the chapter under which the bankruptcy has been filed. For the debt to be discharged it needs to fully settled after which you may be able to free from the burden. The bankruptcy attorney will guide you about the debts and after analyzing the situation will choose the chapter of bankruptcy under the United States Section.Debts discharge will only takes place if you file in chapter 13, where you plan a schedule to repay every debt you have on your name. On the Other hand, Chapter 7 has many exceptions like student loan, alimony, child support, fines and fees under law, debts acquired through fraud, un paid taxes or if you have received a debt discharge within last 9 years.The debts which can be discharged:Unsecured loans are usually discharged.Debts of willful and malicious injuryNon-dischargeable tax obligations.Debts from property settlement in an event of separation.Those who think that their personal debt liability will get the discharge under chapter 7 should consult their attorney to find out how and when all the debts will be discharged. In case you cannot pay back the loan due to undue circumstances you can file under 'undue hardships' and you may get a discharge. Though it is the sole discretion of the court to discharge the debt or not.Also, those debts which you have acquired using means of fraud are not easily discharged from the court if you filed chapter 7 of bankruptcy. Under chapter 13, you have to clear all the funds, and then you will get the discharge. The process of discharge or the decision over discharged debts can be invalidated if the creditor, or trustee of the court sees any wrongful document or fraud with the bank, the discharge may even be cancelled.Personal debt liability is cleared off in bankruptcy in all the chapters of bankruptcy, only the way is different. Chapter 7 liquidates and the court pays to the creditors while in chapter 13, and 1, you won't get the discharge till you pay and settle with the creditor. Any loan or debt which is not mentioned in the bankruptcy petition will not be discharged by the court. All your credit cards and liens are eliminated if you are filing under a specified chapter.
Why does a Ch 7 remain on your credit for 10 years but a Ch 13 only stays on it for 7 years when Ch 13 includes your mortgage and Ch 7 does not - it seems like it should be the other way around?
Neither Chapter 7 nor Chapter 13 necessarily includes or doesn't include your mortgage. You can file a Chapter 7 and surrender your house and discharge your mortgage or you can reaffirm the mortgage and keep the house (depending on the circumstances). Similarly, you can file a Chapter 13 and surrender your house and discharge your mortgage or you can retain the mortgage payments and keep the house. The reason Chapter 7 is on your report longer is because it is (theoretically) worse because you are discharging 100% of your debts (other than those which are non-dischargeable, like student loans, and other than those you reaffirm), whereas in Chapter 13 you make payments for 3 to 5 years and at least pay a percentage of all of your debts back. So, in order to throw you a bone to pay some of your debts back, public policy dictates that Chapter 13 debtors should be rewarded by having their bankruptcy removed from their credit report 3 years sooner. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Visit RossLawOffice.com for more information about bankruptcy.
