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Debt Collection

How long after you file Chapter 7 bankruptcy in Georgia will they repossess your vehicle?


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Wiki User
2015-07-15 19:25:44
2015-07-15 19:25:44

IF you filed it under your B/K, you can consider it repoed and leave it at your attorneys office. That way, you can go ahead with your life and start making adjustments to the new way of doing things. No need to put it off any longer.

Related Questions

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Yes, many loan agreements have a clauses that allows them to call the note due and/or repo the vehicle if there are any singnificant changes to your credit status. Bankruptcy certainly qualifies.

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Probably there are much more chance that you will be loosing your house and vehicle by converting from chapter 13 to chapter 7 bankruptcy. There is a $25 conversion fee that has to be paid to the court. Depending upon the status of your chapter 13 case.

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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.

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You can only keep the vehicle under two circumstances: (1) sign a reaffirmation agreement and keep making payments; or (2) redeem the vehicle by paying of the balalnce. If you fail to do either, they lender can get permission from the bankruptcy court to repossess the vehicle. In some states, such as Missouri, you may keep the vehicle if you continue to pay on it.

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If you buy a used car with cash before filing a chapter 7 bankruptcy, How long do you need in between purchase and filing to keep the vehicle if the vehicle meets exemption in a state?


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