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What else can I help you with?
You are financing a vehicle but you can no longer afford payments what can you do?
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
Will it affect your car loan if you go bankruptcy?
Yes, filing for bankruptcy can affect your car loan. If you include the car loan in your bankruptcy filing, you may have to surrender the vehicle or negotiate a reaffirmation agreement to keep it. Additionally, bankruptcy can negatively impact your credit score, making it harder to obtain future loans. However, not including the car loan in bankruptcy may allow you to retain the vehicle, provided you continue making 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.
What happens if car dealership files bankruptcy how do you pay for vehicle?
If a car dealership files for bankruptcy, someone will purchase the accounts receivable as part of the bankruptcy settlement. That person or company should contact you and tell you where to make payments.
Can you get a derement on your auto loan if you are in chapter 7 bankruptcy?
In Chapter 7 bankruptcy, you cannot directly obtain a deferment on your auto loan; however, you may have options to deal with your car payments. The bankruptcy process may allow for the discharge of certain debts, including the possibility of eliminating the loan if the vehicle is not essential. Alternatively, you might negotiate with your lender for a payment plan or reaffirm the loan, which could lead to more manageable payments. It's advisable to consult with a bankruptcy attorney to understand your specific options.
You kept making car payments after discharged in chapter 7 if you stop paying and don't surrender the car can the lender go and undo your bankruptcy?
No. But, the vehicle will become a repossession if payments are not made.
If you are behind on your car payments should you file bankruptcy before the vehicle is repossessed?
Before doing that, you should go to your bank and explain your situation. They might be able to take over the loan at a lower interest rate. That way your payments may become smaller. If that doesn't work, maybe call whoever has your laon and explain your situation, see if there's anything they can do. * No. Bankruptcy should be the last resort for a debtor. Be that as it may, bankruptcy will not keep a vehicle from being repossessed or the borrower for being responsible for the loan. Secured property such as a vehicle are not dischargeable in bankruptcy.
Can you keep a car and car loan presuming you make payments on time and still file chapter 7 you have less than 1K equity in vehicle?
Yes, as long as you do not include it on the bankruptcy, at least in Florida. * The vehicle exemption that is allowed by either federal or state law determines whether or not the vehicle can be excluded from bankruptcy action.
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.
If your vehicle was listed in your Chapter 7 bankruptcy almost a year ago and the bankruptcy has been discharged and you are current on your payments can you still turn it in?
Yes you can still turn it in. They told me that because it was involved in the bankruptcy, I could stop paying at any time and either call them to come get it or take it to the nearest dealer. I chose to keep my vehicle at the time but have since traded in for another.
Can a car be repossessed if a primary buyer files bankruptcy and the co-buyer has possession of the car but falls behind on payments and the court rules that the vehicle belongs to the lendor?
yes
Can you surrender your vehicle after filing chapter 13?
Yes, but I would hang on to your car if you can make the payments because getting a car while you are in bankruptcy is quite a process (you must file a motion to incur additional debt and get permission from your trustee) and you will pay a much higher interest rate. Maybe higher than the one you have now, since you purchased it before bankruptcy. There are also limits on the price of the car you are allowed to buy and a limit on the payments you are allowed to take on. You will also have a repo on your credit, making it difficult to finance a car
