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Unless the lender requests that you sign new documents, the original terms apply. You need to talk to the lender if you are behind and see if deferred payments can be made.
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∙ 17y ago
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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 is 'cc' in vehicle terms?
CC in vehicle terms means the size of the engine, 1000cc=1 litre
What is a cc in vehicle terms?
It has to do with the size of the engine.
What is the word for when you feel proven correct?
reaffirm
If you have a car loan included in a bankruptcy do you have to continue making payments?
If the vehicle is protected by the state or federal bankruptcy exemption, you can try to reaffirm the loan agreement with the lender. If that's not possible you will be required to surrender the vehicle and will be probably be held responsible for any deficiency and applicable fees after the car is resold.
How do you get your vehicle back from a creditor after filing bankruptcy papers with the court?
All property in BK that is not exempted by state and/or Federal law has to be surrendered to the trustee. A vehicle is secured property and will be returned to the lender, or sold depending upon the circumstances. A car which is covered by exemptions, but is in default for payment, is usually returned to the lender. In some cases the lender will allow the debtor to reaffirm the loan and establish terms to catch up on missed payments .Property is not automatically returned to the person who filed BK.
Can a deceased person in Texas be sued for the return of a leased vehicle?
Yes, the estate can be required to return a leased vehicle according to the terms of the lease. If you read the fine print, it's there. Do you think that the vehicle should remain the property of the estate when it was only leased in the first place? That's the idea of a lease, the vehicle belongs to the leasing company and they let you use the vehicle for the terms of the lease. The terms of the lease are defined in the contract. If the estate of the deceased has been sued, I'm sure it is consistent with the terms of the contract.
If a bank has been advised that you are filing chapter 7 bankruptcy in Ohio but will reaffirm the car loan can they still repossess the vehicle?
Yes, many loan agreements have a clauses that allows them to call the note due and/or repo the vehicle if there are any singnificant changes to your credit status. Bankruptcy certainly qualifies.
What is a car VRM?
If you mean this in car/vehicle terms then I'm sure its the registration plate.....Vehicle Registration Mark
The terms leading or trailing in relation to brakes means?
in terms of brakes and most everything else in auto mechanics, leading is the part towards the front of the vehicle and trailing is towards the rear of the vehicle
Is there any way to keep the vehicle if your bankruptcy has been discharged and you have making car payments but the lender wants you to turn it in?
Are you in default of the loan contract(INS)??? Did you reaffirm the debt?? Are you CURRENT on the loan?? Contact your B/K attorney for more info.
Can you file chapter 7 in Florida and re affirm your mortgage?
Yes, but its never wise to reaffirm a mortgage. Even if you dont reaffirm, as long as you keep making the mortgage payments, the bank wont foreclose.
