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According to the contract you signed when you bought the car, you should surrender it any time you are in default. Sooo, what difference does a day, a few days or a month make? The UCC in every state says the lender can demand the debtor make the collateral available to be picked up after default. Hahahaa , never happens. ANSWER?? TODAY.

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โˆ™ 2004-12-09 08:42:17
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Q: Should you surrender your car to the lender before or after bankruptcy?
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Related questions

Bankruptcy surrender Lender will not pick up vehicle?

Take your hands out of the situation and let your attorney handle it.


How do I get a title to a vehicle that was secured by a loan that was not reaffirmed after bankruptcy?

You don't. You voluntarily surrender the vehicle to the lender, or at least offer the ooprtunity for the lender to secure it. If the lender declines, you get this in writing and ask the lender to surrender the title to you. On the outside chance this occurs, you take the title to the DMV and change the title.


Can a lender still repossess your car after a lawyer told you to tell them that you were claiming bankruptcy?

The lender has to get the STAY lifted before they can repo.


Can you surrender your car to the loan lender to prevent repo and not have to make payments anymore in California?

NOT unless the LENDER agrees before you do IN WRITING.


How long do they have to reposes your vehicle when you file for bankruptcy?

If your Statement of Intention (in a chapter 7) says you intend to surrender the vehicle, you should offer the keys or the vehicle with the keys to the lender or tell the lender when and where to pick the vehicle up. You may want to send a certified return receipt letter to the lender with this same information. Your state laws may give the creditor a definite period of time to respond or the claim will be deemed abandoned. Consult your bankruptcy lawyer.


Who gets paid last in a Chapter 13 Bankruptcy?

In a Chapter 13 Bankruptcy who gets paid last? Creditors, Trustee, their attorney or their lender? ALL ADMINISTRATIVE COSTS - TRUSTEE, ATTORNEY ARE PAID FIRST - BEFORE ANYTHING ELSE. The others sort of depend...a lender is a creditor...if a secured lender...probably before any other.


Even if you are current with your car payments should you give back my automobile during chapter 13 bankruptcy?

The simple answer is no. If you are current on your car note, then this is not the issue that lead to the bankruptcy. That you are paying it current may have contributed to your financial situation, but on the surface it is not a reason to surrender the vehicle. Either do not list it or reaffirm it with the lender.


If a bankruptcy was discharged on an account that was sold to another lender and the original creditor is marking it as a charge off should it be marked as bankruptcy by the original creditor?

Yes, this debt should have been marked as a bankruptcy by the original creditor. It cannot be changed from a bankruptcy to a discharge unless the bankruptcy did not go through.


Can you declare bankruptcy on your mortgage in californiat?

Yes, your obligation under the promissory note will be discharged, however, the security interest will remain. This means the lender can still foreclose on the property if payments are not made. If you plan to surrender the property to the lender, then this isn't an issue.


Can a dealer sell you a car if you are in bankruptcy?

If you are in the process of a bankruptcy, it is not likely that you would be able to secure a loan. If you are paying cash, and the court learns of the sizable asset, your bankruptcy may be vacated, or you may be required to surrender the vehicle. If the bankruptcy is resolved, there is nothing other than the dealer's and lender's personal judgments that would stop them from selling the car to you.


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.


Can you keep your house if bankruptcy is dismissed for non-payment?

That decision is made by the lender not the bankruptcy court.

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