Same as anyone who doesnt make the payments, it gets repoed. You cant drive for free. NO special treatment for you. I'm pretty sure that the law is the same in most states regarding bankruptcy. Until the bankruptcy is discharged, the bank has no legal recourse to the vehicle. (Common misconception is that consumers can quit making payments on vehicles when chapter 7 or 13 is filed, this is not true! most likely a judge will rule in favor of the Finance company owed, which only makes it look worse if you stopped paying for it!) As soon as the discharge is submitted by the court, the finance company has full legal claim to the collateral on loan that is in default. FYI for those thinking about filing bankruptcy: IF you want to keep your vehicle/property, do NOT quit paying for it. If you cannot make payments inform the bank that you are filing bankruptcy, but want to come up with a solution to keep your car. Most financial institutions would much rather hear from the debtor and make resolutions than to attempt to post it for repossession. In my experience in Recovery, the banks offer a new contractual agreement, or re-finance to help you get through the few months that youre in Bankruptcy status. Good Luck
Spousal support and child support debts cannot be discharged in a bankruptcy, so the ex spouse must continue to keep making the payments. Failure to do so can lead to a dismissal of the bankruptcy case.
Your bankruptcy was not discharged, unless it was thrown out of court. Your debts were discharged. You can keep making the payments, find somebody who will take the car and make the payments, or call the lender to make a "voluntary repossession." You will then learn what a dumb move it was to buy the car, since you will be liable for any deficiency and you cannot file c. 7 again for 8 years.
No. But, the vehicle will become a repossession if payments are not made.
YES, you can include it whether the payments are current or not.
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
The card holder is under no legal obligation for the card holder to continue making payments after filing for bankruptcy, unless the case is dismissed without a discharge. There are some who believe that they can improve their credit rating by pay off debts that were discharged in a bankruptcy, but I believe there are better methods to reestablish credit after bankruptcy.
No. Paying it off or even making a payment, does not reactivate the debt. Nor will it obligate the person to make future payments on that account or any others included in the BK.
Yes, as long as you keep making the payments.
You can get a Chapter 13 bankruptcy dismissal by asking your lawyer to ask the trustee for a dismissal. If you are having trouble making the payments, you can ask for you bankruptcy to be modified.
Go to where the bankruptcy is filed and have the file pulled and there will be an accounting of all the debts and payments being currently made. It is public information.
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.