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What if the creditor sells the car anyway while automatic stay is in effect?
Wiki User
∙ 12y ago
In a Chapter 7 bankruptcy, a secured creditor has the right to repossess any secured property and sell it. However, if the car does not bring enough at the sale to pay off the entire loan and cost of repo, the automatic stay prohibits the creditor from pursuing this deficiency balance.
Wiki User
∙ 12y ago
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Do you have to pay the balance owed after self repossession?
You pay what is owed after the creditor sells the car for. So if you owed 10,000 and the creditor sells it for 8000 at an auction, then you would owe the remaining balance.
What if the creditor that enters the judgment sells the account to a new company and the old creditor didn't assign the judgment to the new creditor How do you pay off your judgment?
Make your payment to the clerk of courts office in the county your judgment was entered in.
If the creditors repossessed a motorcycle and then DID NOT sell it at an auction do you still owe?
No you don't still owe; once the motorcycle has been repossessed, it is no longer your concern. Whether the creditor sells it or fails to sell it is the creditor's problem, not yours.
When an original creditor sells a charged off account to another company does this start the 7 year clock ticking all over again?
No. When an original creditor sells a charged off accounts to another company. I asked the Credit bureau to investgate. However, the creditor is unable to remove it from my credit report. does this start the 7 year clock ticking all over again from the date the credit bureau investigate?
Does the Jeep Wrangler have an automatic transmission?
Some do and some don't. Jeep sells then with your choice.Some do and some don't. Jeep sells then with your choice.
If a creditor reports an upaid bill on your credit then sells the account to another creditor can they report the same unpaid bill on your credit?
Yes, they can. But, usually it can be removed by the credit bureau once its proven to be a duplicate entry of the same debt.
Where can we find an automatic umbrella?
WalMart is a store that sells many items online. You can purchase an automatic umbrellas from WalMart and they will have it delivered to the store for free or to your home for a nominal cost.
What store sells godfather pictures and frames?
T.K max sometimes i got 90 anyway for £10.00
What if your car can be sold by the creditor for more than you owe on it?
then that amount is due back to you....but be warned that rarely ever happens. usually it sells for much much less.
Who sells automatic locking hubs for 93 ford bronco?
Amazon and eBay. But if you are a serious off-roader manual hubs are better
Where can one purchase an automatic gate?
Many home supply type stores sell automatic gates. Home Depot and Northern Tool and Equipment for starters. Tractor Supply also sells them and they can be found on eBay.
What do you do if the original creditor went bankrupt pulled your file from the collector you were paying and sells it to a debt buyer who demand a large sum of money up front or they will sue you?
I would hire a Bankruptcy attorney asap.
