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What happens if your car is repossessed after you file bankruptcy without a court order?
Wiki User
∙ 19y ago
Karen, it is possible to do so legally. You should ask your B/K attorney if it was legal the way it was done. S/he is in a btter position to know ALL the facts. Within days of filing the BK, your finance company should have received notice that you filed for BK protection. If they wanted the vehicle, they should have filed a Motion to Lift the Automatic Stay. It is up to the BK court to grant or deny the Lift of the Automatic Stay. If they didn't, then they cannot legally repossess the vehicle. If they did, they have every right to repossess the vehicle. Consult your attorney immediately.
Wiki User
∙ 19y ago
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What happens if you are in chapter 13 and your car gets repossessed?
If neither the lender or the repossession company is notified that you have filed, and they proceed in good faith, your car can be repossessed. If either knowingly violated the stay, you may be able to redeem the vehicle, and the bankruptcy court may fine the agencies who acted in violation.
When a company files bankruptcy what happens to the union contracts?
They can be changed by the Court.
Can a dealer sell you a car without court approval when you are in bankruptcy?
Yes.
How will bankruptcy affect the sale of real estate property?
No property can be sold, transferred, refinanced, etc. while in bankruptcy without the permission of the bankruptcy court.
Can a car be repossessed if a primary buyer files bankruptcy and the co-buyer has possession of the car but falls behind on payments and the court rules that the vehicle belongs to the lendor?
yes
Can a creditor seize your checking account after you file bankruptcy?
Not without the approval of the court
If you filed bankruptcy in Illinois and have not made a car payment this month but notified the bank of the bankruptcy will the car be repossessed or will you be notified to return it?
If you are not going to reafirm the loan, in other words- keep and pay for the car, then yes the bank will want the car back. Usually they will try to get the car back shortly after your 1st court date when the court has oked your petition to go thru bankruptcy.
What happens to a bankruptcy when someone dies?
An administrator or executor of the estate needs to be appointed and file an appearance in the bankruptcy court. The case can continue to discharge of debts of the deceased. Get an experienced bankruptcy lawyer if there no attorney of record.
What is a notice of bankruptcy and stay?
When a bankruptcy is filed, an "automatic stay" takes effect, essentially a prohibition against any collection action by a creditor without the court's permission. This occurs even if the creditor has no immediate notice of the filing. Any collection action taken after the filing must be undone by the creditor.If there is a proceeding in a civil court to collect the debt, the appropriate action for the debtor is to notify the court of the filing, giving the name and address of the bankruptcy court, the date of filing and the docket number of the case in the bankruptcy court. This is often called a "suggestion of bankruptcy" or notice of bankruptcy."
Can you sell your property in bankruptcy and what happens to the funds of the sale?
Yes you can sale your home but the bankruptcy court will take the proceeds from the sale and disburse them to your creditors that you owe. No, everything except your selected exempt property belongs to the bankruptcy estate, as of the moment you file, and it can only be sold by the bankruptcy trustee, with permission of the court, to satisfy your debts in an orderly fashion.
Will the bankruptcy court take a lawsuite settlement?
It depends on the specific circumstances of your bankruptcy case and the laws in your jurisdiction. In some cases, lawsuit settlements may be considered part of the bankruptcy estate and subject to distribution to creditors. It's best to consult with a bankruptcy attorney for guidance tailored to your situation.
Where can one file for bankruptcy in Florida?
Bankruptcy can be filed at the Bankruptcy court for the area you are in. For instance in Northern Florida, it's the Florida Northern District Bankruptcy Court.
