The lender has to get the STAY lifted before they can repo.
No. Foreclosure is a specific action that would be filed in a county court. Filing a Chapter 7 bankruptcy would give the mortgage lender the right to file the foreclosure after the bankruptcy case is closed, unless you reaffirm the mortgage debt with the lender.
Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at www.hirby.com/mortgage-lender-filing-for-bankruptcy
It has to be included in a bankruptcy filing. A charge-off is a tax break for the lender. It has nothing to do with whether the debt is still owing.
If you are filing for bankruptcy, and you try to cosign -- two things can happen. 1. the lender will turn you down. 2. If the court finds out you have applied for credit the bankruptcy can be stopped. If you mean that the car and loan will be for you during or after the bankruptcy, this still has to be disclosed and again the bankruptcy can be stopped.
Generally yes, if there is a contract signed by both of you (the lender and borrower) and you include that debt in you bankruptcy filing.
After filing for bankruptcy in Canada you may borrow money. The risk is borne by the creditor. During bankruptcy, after filing but prior to being discharged, you may obtain credit with a value of up to $1,000. without advising the creditor of your bankruptcy. Should you seek to borrow more than $1,000 you are obliged to advise the lender that you have filed for bankruptcy.
A vehicle is a secured loan and cannot be discharged in bankruptcy. If a reaffirmation agreement between the lender and the borrower is not possible the vehicle is usually repossessed. However, the lender does not have a legal obligation to recover the vehicle. The lien will not be released until the loan is paid or settled to the satisfaction of the lender. Under new bankruptcy laws, the lender is entitled to collect the full amount of the loan plus any applicable legal fees and interest. This generally means that the lender will file a lawsuit to obtain a judgment which can be used as a wage garnishment, bank account levy or other method as allowed by the state laws to collect money owed.
Student loans from any lender are not usually dischargeable in bankruptcy. They will temporarily stop collection during the proceedings, but interest will continue to accrue.
I f that was the main reason for filing the c. 13, you can. Make sure the lender knows about the bankruptcy and you have a refi commitment before you move to dismiss.
On the surface, no. As long as you have not defaulted on the loan contract, there is no reason for repossession. The lender wants your money, not your car.
There is a six year limitation for BK filing. Bankruptcy will delay but not stop foreclosure on secured property, unless the debt is reaffirmed with the lender.
If all you did was sign the "Statement of Intention" saying you intended to reaffirm the debt, and did not in fact reaffirm the debt with a reaffirmation filed with the court, and did not continue making car payments after the date of filing, the secured debt survived the filing and you are not entitled to the title until you pay the loan off. The lender can repossess the vehicle and sell it. It's not a question of what the court did, but what you did or did not do with respect to the loan.
If you are talking about someone who cosigned for your loan filing bankruptcy, As long as you continue to make your payments on time, nothing will happen. If you are talking about someone you cosigned for taking bankruptcy, you may very well have to pay this loan. Contact the lender.
Well to put it simply..... YES
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.
Sorry to be the bearer of bad news, but yes the lender can "come after you" and they most definitely will.
There is no specific waiting period. You can purchase a home as soon as you reestablish your credit to the satisfaction of any proposed lender.
IF the lender accepts it you can.
Yes they can come on private propery to repossess a vehicle. If they damaged your property, then call the lender and demand they repair the damage. You may have to sue to recover the damage.
as long as you keep making payments the lender will probably not repossess the property. however, if you miss one payment the lender can repossess the property at any time.
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
There is no time restraint on purchasing anything after bankruptcy. In fact, as it is "after", barring something like intentional fraud by using undeclared resources that were available at the time of bankruptcy, your actions after filing have virtually no effect on or from the bankruptcy. In the pure sense, even if you won the lottery the week after filing bankruptcy, that wouldn't effect the pre-filing situation. Getting financing for the car may be a different matter. A lender will look at you entire credit profile, and they historically frown upon someone with a, especially recent, bankruptcy on record. However, some lenders have special programs for just tis situation, although at a higher interest rate.
Unclear whether the deficiency would be filed by the lender or by the trustee of the bankruptcy estate.
it is quite unlikely that you will be able to get a mortgage lender with that history.