0
Owned assets are auctioned off to repay all creditors.
Wiki User
∙ 7y ago
Add your answer:
Earn +20 pts
Can bank hold on to your car title as collateral on a bank credit card went the car loan was paid off prior to bankruptcy?
The bank should not have your car title if it is paid off. If you declared bankruptcy and it was discharged, your bank credit card account should be dismissed.
What if Car is paid off during bankruptcy?
then you get to keep it because its not worth anything to the government anymore
When filing Chapter 7 bankruptcy should a car that is not paid off be included on the schedule of personal property?
no
What happens to your paid off car after filing bankruptcy?
If your car's value cannot be exempted, it goes to the trustee to auction off and the net proceeds used to pay his fee and the balance distributed pro rata to the unsecured creditors. The exemptions are determined by state law, which may allow using the federal exemptions. Check with a local bankruptcy lawyer or go to your jurisdiction's bankruptcy court website.
Will paying off a car loan raise your credit score after a bankruptcy?
The bankruptcy will still be reported on your credit file for up to ten years however, it will denote that the car loan was paid off. So to answer the question wil it raise your credit score. The answer is no.
What happens when your loan is not paid off and you still have the car?
You can still have it ,but you will be paying heavily for it and have no resale value for it.
If you drive off with stolen gas what happens?
The car will stop, because the gas will not work until after it is paid for.
Can a co-buyer take the car if she is filing bankruptcy?
When someone files for bankruptcy, they are protected and their possession will likely not be repossessed. However, if they are, subject to repossession you would have to talk to a lawyer in order to keep the car.
Can you trade in a car that's not paid off and not co sign for another car?
If you trade-in a car that Not paid off, you will be trouble with the law.
Can you sell a vehicle that was included in a Chapter 13 bankruptcy case and is not yet paid off?
No
If you request a voluntary dismissal can a debt listed in the bankruptcy still be paid off?
Yes.
Can I Cancel a car contract because of financial hardship?
Very unlikely that a lender will let you off the hook, unless it is a small local company and you have paid at least the purchase price. Your choices are: sell the car or file bankruptcy.
