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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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Wiki User
2011-09-12 21:51:56
2011-09-12 21:51:56

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

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

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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.

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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.

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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.


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