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If you have equity in it, sell it. If you have a relative who wants the car and has 15k, take the money, pay off the loan and sign the car over to the relative.

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โˆ™ 2006-12-08 07:19:39
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Q: Is there an alternative to repossession or bankruptcy on the 15000 you owe on your car?
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Related questions

Can you get your car back after a repossession if you file chapter 13 bankruptcy?

In GA Can you get your car back after a repossession if you file chapter 13 bankruptcy


If you have a car repossession can it be settled if in several months you go into bankruptcy?

If by settled, you mean get your car back, no, unless the bankruptcy was filed before the car was sold at auction (unlikely to be several months).


What happens if my car is repossessed and then I file bankruptcy?

Any leftover debt from that car repossession can be put in your bankruptcy petition..so if you owed $12k and the bank sold it for $6k..then you can file bankruptcy on the remaining $6k.


Can a car be repossessed if involved in bankruptcy?

Depending on your state... a car that is included in a Chapter 13 Bankruptcy cannot be repossed. The Bankruptcy laws protect you from repossession. Just as long as you are in Chapter 13 and are making payments to the Trustee, your car cannot be repossessed.


If your car is repossessed and the person who cosigned for you files bankruptcy are you still liable for the repossession?

Yes. If you default on your car loan you will remain liable for the debt.


Can a car be repossessed if a co buyer files bankruptcy and the primary buyer has the car?

When someone files for bankruptcy, they are protected and their possession will likely not be repossessed. However, if they are, subject to repossession you would have to talk to a lawyer in order to keep the car.


How can you avoid the repossession of your car?

You can avoid repossession of your car by keeping tab of your car payments, discuss your situation with the creditor instead of ignoring them. Other things you might want to consider would be to sell the car to at least pay off some of what you owe, or file for bankruptcy.


When filing for bankruptcy and including the car how long is it before the creditor collects the car and how does that work?

The loan company can repossess any car that the payments are delinquent on. Your BK does not prevent repossession of your car.


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.


Is there a hardship law for volunteer repossession of a car in Georgia?

Yes, it is called bankruptcy. Move quickly though. If the lender obtains a judgment against you before you file bankruptcy, you will still owe on the loan.


How do you write a car repossession letter?

How do you write a car repossession letter?


Where do you get car repossossion permit?

who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?

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