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  • Auto Loans and Financing
  • Repossession
  • Debt and Bankruptcy

If you filed for bankruptcy and then your car was repossessed are you still going to have to owe something?

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βˆ™ 2011-09-12 21:51:56

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Ask this of your B/K attorney. that's what you are paying for.

2011-09-12 21:51:56
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Can you give me the name of the form I need in order for me to be allowed to purchase a new car after I have filed for bankruptcy?

If you have filed bankruptcy, you are not going to be financing any new cars any time soon.


If you filed bankruptcy in Illinois and have not made a car payment this month but notified the bank of the bankruptcy will the car be repossessed or will you be notified to return it?

If you are not going to reafirm the loan, in other words- keep and pay for the car, then yes the bank will want the car back. Usually they will try to get the car back shortly after your 1st court date when the court has oked your petition to go thru bankruptcy.


Can you get a used car loan if you recently filed for bankruptcy?

You are going to need approval from the trustee handling your finances, but you can get a used car loan if you recently filed for bankruptcy. There will be drawbacks though: e.g. the interest rate and insurance rate will be significantly higher.


When filing bankruptcy do you include pending law suits?

Yes, if the lawsuit has been filed it should be included - or if you know its going to be filed you should include as a possible debt.


If you filed for bankruptcy and originally were going to keep a car and signed a reaffirmation agreement can you change your mind and turn it in under the bankruptcy before the discharge is signed?

Yes, contact your attorney IMMEDIATELY!


Will my kids father going into bankruptcy stop you from receiving child support?

Child support is not discharged in bankruptcy. However, there is sometimes a temporary hold on collecting any debt. And if the obligor has filed bankruptcy, it seems likely that he doesn't have money for child support.


Are Erickson Communities going bankrupt?

Erickson has not filed for bankruptcy. The company is examining new potential sources of capital and working with its creditors to restructure its debt.


If your truck was repossessed and damaged and you were going to file bankruptcy do the reposessors have to return it to you and then you can file and stop the repossession?

no no, it's up to the company if they want to let you keep it or not, some of them think that if your'e filing BK then your'e not going to pay them.


Is Six Flags going to close due to Bankruptcy?

No, Six Flags filed for Chapter 11 bankruptcy rather than Chapter 7. Chapter 11 bankruptcy is filed so that a company can restructure it's debt, eliminating much of it, and come out a stronger company. They may close some under performing parks or sell them to another corporation but the parks should remain open in the meantime.


When Donald Trump filed bankruptcy protection in Las Vegas did any small businesses get paid or go out of business?

NO, this man is a lie, a loose and a cheap and many people are going to lose their job when he once again file bankruptcy.


If I filed for bankruptcy months before my house was going to go into forclosure & the bankruptcy was complete,then my house was just about to go into forclosure can I still apply for the Obama mrtge relief plan even though I listed my house in the bnkrpc?

Yes, you can still apply for Mortgage Relief after filing bankruptcy.


Can you add new credit cards to your existing bankruptcy if you did not have them before you filed?

Yes, but there's a fee. Its kind of like filing an amendment to your taxes. However, if you went crazy with charges in between the time that you filed and the time that you're adding on the new cards, the court will either reject your request or the vendors will demand their items back. For example, if you filed bankruptcy and then went out and charged a flat screen tv on your Visa, and then tried to add that to the bankruptcy, NO ONE is going to let that one slide!


I am going into a bankruptcy in app 1 month the bank wants to reposses the car if I surrender the car before the bankruptcy is filed will it show up as a repo or go under the bankruptcy?

It will show up as both. If the bank auctions off the car, they may come after you for a deficiency judgment. Any chance of them coming after you would be taken care of in the bankruptcy.


Can a person file for bankruptcy to avoid paying small claims court?

Probably, assuming they are actually bankrupt. If they are not actually bankrupt, then the automatic stay will delay the small claims court for a while, but the person who filed for bankruptcy is going to end up in even more hot water with the bankruptcy court.


If inder chapter 13 and a new bill from current is going for a law suit can it be added to the chapter 13?

Question is unclear but - any debts which you incurred before bankruptcy filing but were not presented until AFTER your bankruptcy petition is accepted, are subject to the bankruptcy. HOWEVER - after the bankruptcy has been filed, you may NOT go out and incur NEW debt. Any newly incurred debt will NOT be protected by the bankruptcy shield.


Will my options for home mortgage interest rates be compromised by my having filed bankruptcy recently?

If you have filed bankruptcy recently your options for low home mortgage interest rates are going to be very slim, if they exist at all. In fact it will be hard to get a mortgage from a reputabel company at all, especially if a home was involved in the bankruptcy proceedings. It will depend on how recent the bankruptcy was, what all was involved in the proceedings and how you have resolved things since as well as finding a bank that may have a program designed to help people in your situation.


What happens to a loan if a finance corporation files for bankruptcy?

Nothing spectacular happens. And you are still liable for the loan payments. Most bankruptcy filings are for Reorganization, not for 'going-out-of-business'. The 'filing' of bankruptcy is done in a Bankruptcy Court. A judge oversees the orderly progression of the bankruptcy. If the finance corporation has filed for reorganization, then you will continue paying them -- because they are not going out of business Otherwise, your loan and every other loan will be sold to another financial institution -- and you will pay that new company. No matter what, you still have to pay the full amount of your loan.


How long does it take for your credit to get better after you are discharged from Chapter 13 bankruptcy?

Your credit score starts going up the minute the bankruptcy is filed. Debts incurred after the filing (even the day after), are exempt from the bankruptcy. If you make house and/or car payments on time, your score goes up Legally, they can hold it for up to 10 years.


How does bankruptcy affect individuals financially now and in the future?

If you are facing bankruptcy you likely have many questions in your mind. One of those is probably going to be how will this affect me financially. In the short term you will feel relief. However, as you work through the process and protection you will need to deal with the fact that your credit report will include the fact that you have filed for bankruptcy.


Is Six Flags going to close down?

It is not closing. Six Flags filed for Chapter 11 bankruptcy rather than Chapter 7. Chapter 11 bankruptcy is filed so that a company can restructure it's debt, eliminating much of it, and come out a stronger company. They may close some under performing parks or sell them to another corporation but the parks should remain open in the meantime.


Is Six Flags in St. Louis really going out business?

No, Six Flags filed for Chapter 11 bankruptcy rather than Chapter 7. Chapter 11 bankruptcy is filed so that a company can restructure it's debt, eliminating much of it, and come out a stronger company. They may close some under performing parks or sell them to another corporation but the parks should remain open in the meantime.


When my house was discharged in bankruptcy the lender neglected to put lien on property the bankruptcy is 2 yrs. old the house is just sitting there going down is the property still mine?

I am not a lawyer, but I do know that you can try to check with the township or county assessor's office and see if the property taxes have been paid and try to find out who is paying them. Also, I would recommend going to the US Bankruptcy Court clerk's office where you filed your bankruptcy. Te address and phone number should be in the government pages of your local phone book. Maybe the clerk can help you look up your bankruptcy file. One thing you might check on is to see if there is an Order of No Assets, No Claimants, and when the bankruptcy was discharged and if it is closed. Also, it important whether you filed a chapter 7 or a chapter 13. Was your mortgage paid prior to filing bankruptcy or mostly paid? Was your house claimed in the exemptions? Did anyone object to the exemptions? It may be wise to have a bankruptcy or real estate lawyer look over your papers.


What is the definition of a Chapter 11 filing?

This means that a company is on the verge of bankruptcy and if something in the company doesn't change, that there is a definite chance of going bankrupt.


Is block buster going bankrupt?

Yes, or at least it already has gone bankrupt. As of late summer, 2010, Blockbuster Video filed for bankruptcy. The success of subscription-based rental services such as Netflix, as well as the greater presence of file-sharing websites with the bandwidth to stream movies, have contributed to Blockbuster's bankruptcy.


Is Eddie Bauer going out of business?

I just finished a project for Eddie Bauer filming sponsored athletes in Argentina. The briefing I received was that they filed for bankruptcy the were purchased by a private equity firm. Currently they are re-structuring.