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Should you surrender your car to the lender before or after bankruptcy?

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βˆ™ 2004-12-09 08:42:17

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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.

2004-12-09 08:42:17
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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.


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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.


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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.


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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.


Do you have to declare bankruptcy if you default on your mortgage?

No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.


If a lender is already in bankruptcy can they still file a deficiency judgment against you in the state of Florida?

Unclear whether the deficiency would be filed by the lender or by the trustee of the bankruptcy estate.


What if in bankruptcy you ask to keep your car and then can't pay it?

The car will be repossessed, unless you surrender it. If you owe more than the car is worth, the lender will not likely want to accept a surrender unless you can pay the balance due on the loan. Your state may not allow creditors to go after loan balances if they repossess a vehicle. Consult a local bankruptcy or consumer debt attorney.


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Can FHA turn you down for a new home purchase due to Home being surrender under a less than 2 year Chapter 7 bankruptcy?

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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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If your car is repossessed before you refile for bankruptcy after a dismissal can you get it back?

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If you have been discharged from ch 7 bankruptcy and now you do not want your SUV if you surrender it how will that look on your credit report?

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Can a HELOC that is charged-off by the lender be included in a chapter 7 bankruptcy?

It has to be included in a bankruptcy filing. A charge-off is a tax break for the lender. It has nothing to do with whether the debt is still owing.


If you are in chapter 13 bankruptcy can you file for a voluntary dismissal to refinance your house?

I f that was the main reason for filing the c. 13, you can. Make sure the lender knows about the bankruptcy and you have a refi commitment before you move to dismiss.


Can you get your car back if you file a chapter 7 bankruptcy before it is auctioned off?

If the lender is willing to reaffirm the loan with the borrower then the vehicle can be returned. A vehicle is a secured debt and is not subject to chapter 7 bankruptcy laws.


What should I know about bankruptcy and mortgage refinance?

You can refinance your mortgage, even after a bankruptcy. Refinancing can even help restore your good credit in about two years! Sit down with your lender and talk about a refinancing plan.