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We did not reaffirm our van in the bankruptcy and kept making payments if we surrender it to the bank are we liable for the balance after auction?
Wiki User
∙ 15y ago
If you did not list it in your BK, you will be responsible for any outstanding balance that is not recouped in the auction. Yes. Secured property is not dischargeable in any bankruptcy filing. ------------------------------ If you included it in the bankruptcy, but just didn't reaffirm it, you won't be responsible for any balance.
Wiki User
∙ 15y ago
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Can you file bankruptcy on day set for foreclosure?
As long as the date and time stamp on your bankruptcy petition is prior to the time of the auction on the date for the auction, yes you can.
Do you need to renew the registration if you are planning to voluntarily surrender the vehicle?
I would surrender the car before the registration is due. Once you surrender the car, the car will go to auction and sold for the highest bid. You will then need to either pay the deficit to the finance company or file for bankruptcy protection to elimiate the debt. NOT if you turn it in B4 its due.
If I don't reaffirm a car loan can the lender take the car back at any time even if I have paid equity into the car after a period of time?
If you don't reaffirm the debt, then the creditor has the right to repossess the car and sell it at auction to recover the debt owed to them, irregardless of what equity that you've paid. If you wished to keep the car, then you should have demanded that your attorney reaffirm the debt with that particular creditor.
Did auction house Kruse international declare bankruptcy?
According to the news, Kruse International has not filed bankruptcy. Whether there is any money left is anyones guess.
What happens if your home does not sale at the foreclosure auction?
at the auction sale of my home the sale was stopped. i did not file bankruptcy. i have two mortgages own by investors need to make a decision to or to move?
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).
Can the person who holds the property sold in a bankruptcy auction charge boarding and not release livestock sold?
It will depend on how the bankruptcy auction paperwork was filled out as to whether or not a person that holds the property can charge boarding and not release the livestock that was sold. Contact a local lawyer that knows your states and local laws regarding this issue.
If you want to give a car back and are one year behind on payments would the remaining balance have to be paid?
Either that or file bankruptcy. The collection agency will be after you for the amount that is still owed after the vehicle is sold at auction. Please understand that auction will not get anywhere near the full retail value of the vehicle, and you'll loose a lot of money plus be required to pay the difference in the amount remainin on the loan against the net sale at the auction. (after expenses, commissions, towing...) Pay it if you can possibly find a way.
How long does a trustee's sale last before eviction starts?
what is the timeline from when payments are missed to when a home goes to auction?
Can a bank solicit someone after filing bankruptcy?
When you file bankruptcy. there is an automatic stay on collection. The clerk doesn't even consult a judge; she stamps your copy "relief ordered" and hands it back to you before you even leave the window.That doesn't keep the bank from soliciting new business. It's only a bar to collection of existing debts.If you have a secured debt to the bank, such as a car loan, it might sense to approach the bank. If you owe $8,000 on a car that's only going to bring $4,000 at auction suggest to the bank that you would be willing to reaffirm the debt if they write the loan down to $4500. That gives them more money than they would get at auction, and they don't have to spend a lot of man hoursselling it.
Can a real estate auction of an estate be stopped?
I am assuming you are asking about an estate auction due to foreclosure proceedings, so that's the standpoint I will be coming from in this post. The short answer is yes: an auction can be stopped. But most methods used to stop a foreclosure sale are only useful for temporarily postponing the auction. The only way to stop all foreclosure auctions on your property is to either pay off the full amount of the loan, or bring the loan back into good standing through a reinstatement (paying for all missed payments, late charges and fees). You can also ask your lender if you qualify for any assistance programs such as a forbearance (repayment) plan or a loan modification. That being said, there are a couple ways you can force the lender, attorney, or trustee to postpone an auction. The first is to file bankruptcy. If you file a bankruptcy, the creditor (your bank) must either A) wait until the bankruptcy is dismissed, B) wait until the bankruptcy is discharged, or C) file a "Motion for Relief" which asks the bankruptcy judge to allow them to proceed with the foreclosure auction. The second way to force a postponement of the auction is to file a lawsuit against the bank. If you challenge the foreclosure in court, the bank must fight the lawsuit before proceeding with the sale of your property. This only works in the states that have what is called a "nonjudicial" foreclosure process. If you are already being foreclosed upon through the court system in your state, then this method will most likely not work. Disclaimer: I am not a lawyer. Nothing in this post constitutes or is intended as legal advice, and should not be used as such. If you have further questions, consult a licensed attorney in your state.
In Indiana if a car is reposessed and you only owe a few payments and the vehicle is sold at an auction do you get any of that money back?
lol no
