Best Answer

Hi,yes every single debt will be erase,the only debts you can't erase with bankruptcy are past due taxes,everything else is wipe out,thats why is called "fresh start" .

User Avatar

Wiki User

โˆ™ 2015-07-16 18:05:27
This answer is:
User Avatar

Add your answer:

Earn +5 pts
Q: If you have your car repossessed but still owe money on it can you clear this debt by filing for bankruptcy?
Write your answer...

Related Questions

Can your car get repossessed after bankruptcy?

not if you still owe money on it

Can your car be repossessed after filing bankruptcy if you are up to date on payments?

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.

Can you still owe money after your car is repossessed and you are bankrupt?

You still owe the balance after the insurance money is paid, if there is a balance. You can only get rid of it, along with your other unsecured debts, by filing bankruptcy.

Can you get garnished money back after filing bankruptcy?


Can you spend money before filing bankruptcy?


Should you take your money out the bank before filing bankruptcy?


If property has been seized before filing bankruptcy does stay apply to said property?

It depends on the nature of the seizure. A repossessed vehicle has to be returned i it has not been auction to a 3d party. If money was seized by a tax agency, maybe.

How do you get money owed to you from a landlord if he says hes filing bankruptcy?

If you're in Texas.... GOODLUCK!

Does bankruptcy take care of evictions?

Bankruptcy will not take an eviction off of the credit report. Any money that is owed to a previous landlord can be put in the bankruptcy filing and paid through that

Can you lose your horses in a bankruptcy filing?

yea, they are your possetions, so the bank will sell them to get money back

How can money be kept when filing bankruptcy?

It can't be kept. All assets must be declared, even cash. Anything left out can be treated as bankruptcy fraud.

Can you get a loan after bankruptcy in Canada?

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.

How will you know when someone who owes you money has filed or is in the process of filing bankruptcy?

Set them straight, what ever position you or they are in.

When filing bankruptcy can the gov take you retirement money?

No, retirement accounrts (ERISA qualified) are protected from seizure.

How do you clear your bankruptcy?

pay it off monthly with what money you can or put money away and keep it till you have a bit.

Can you file bankruptcy on a title loan when you don't owe money on it?

In the US, at least, you don't file bankruptcy against specific loans, you file bankruptcy in general. You do have to list all your assets and debts as a part of the filing. So, technically the answer is "no", but ignoring that for a moment, why on Earth would you want to do such a ridiculous thing as spend filing and attorney's fees on a debt you don't owe any money on? However, the fact that you have a loan you don't owe anything on (most people do) doesn't stop you from filing bankruptcy.

Should you continue to pay credit cards when deciding bankruptcy?

No. If you are seriously considering filing for bankruptcy, then you should not use nor pay on your unsecured credit cards. This is due to the fact that you are going to be eliminating those debts. You will need that money to pay your court costs and attorney's fees when filing for bankruptcy.

Being in a Chapter 13 bankruptcy and receiving money for a personal injury settlement two years after filing do you have to by law turn that money over to the Trustee or bankruptcy attorney?

Why aren't you asking your bankruptcy attorney? It depends on the amount and what the award is for. And the details may depend on what bankruptcy court your 13 is in. You may be able to use the money to prepay your 13 plan and get out of bankruptcy. The money would go to you, not the bankruptcy attorney (unless you owe the attorney money). What claim the trustee would have is the issue.

Can a credit card company sue you if you file bankruptcy?

For filing bankruptcy? No. Filing for bankruptcy is not illegal and your right to do so cannot be waived by contract.For fraud? Yes, but the fraud would have to be proven.For the money you owe? Possibly, but pointless, since they are already a creditor and a successful lawsuit will only make them a creditor, which they were to begin with. It wouldn't even raise their standings in the priority of repayment from the bankruptcy discharge.

What is the English meaning of the word bancarrota?

Bancarrota is a Spanish word, but translated into English means Bankruptcy. Bankruptcy is when someone does not have enough money to payback any of their debts. Filing for Bankruptcy can have very negative effects a person's credit rating.

How can you file a bankruptcy and not lose any money in the bank?

Why are you filing bankruptcy if you have money in the bank? You are entitled to exemptions, which may include some money in a bank account. The amount you may exempt will depend on whether your state has its own exemptions or allows you to use the federal exemptions.

What qualifies you to file for bankruptcy?

You can qualify to file for bankruptcy if you owe a substantial amount of money to your creditors and/or car loan and mortgage companies. It is not worth filing bankruptcy for small debt as bankruptcies range from 900 dollars to a couple thousand dollars.

If you owe somebody money and they are filing bankruptcy will the court go after you to get the money what will happen?

The court certainly tries to protect and get all assets, that includes any money owed the bankrupt, to disburse to creditors.

Does bankruptcy remove an eviction?

if its related to the bankruptyc, you can include it. and the creditors will have to remove it or flag it for removal in 7/8 yrs because an eviction is related to owing money or a summons, and a bankruptyc filing will/can squash those writs of order to pay. You have to manually add that into your list of creditors when filing for the bankruptcy.

Can you transfer money from a savings to a retirement account and file bankruptcy?

Sure. But expect the trustee to want that money, unless the amount in the savings account was exempt. Transfers of assets otherwise available to the bankrupt estate for the purpose of filing bankruptcy is a federal crime. Consult an experienced bankruptcy lawyer, since there are permitted transfers.