answersLogoWhite

0


Best Answer

You will have to pay the balance due after the sale.

A creditor who has a valid security interest in a vehicle may repossess the vehicle without notice to the debtor where the underlying debt, an installment contract, has been discharged in bankruptcy and the debtor has not reaffirmed the installment contract.

O P I N I O N

KLAPHAKE, Judge

Rosalyn Rodgers appeals from summary judgment awarded to her creditor, respondent General Electric Capital Corporation (GE Capital), which repossessed a vehicle under the terms of a security agreement after Rodgers' discharge in bankruptcy. Rodgers claims that despite her bankruptcy discharge and her failure to reaffirm the installment contract post-bankruptcy, she was entitled to notice before the vehicle was repossessed. We disagree and affirm.

User Avatar

Wiki User

โˆ™ 2011-07-05 22:20:09
This answer is:
User Avatar
Study guides

Loans

26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

โžก๏ธ
See all cards
5.0
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
1 Review

Add your answer:

Earn +20 pts
Q: When a car is repossessed in Minnesota what are the laws?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Can a car be repossessed from a close gate?

It depends on the laws in your state.


Can police refuse to release a repossessed car that they hold?

It depends on the reasons the car was repossessed and what the local laws are. If the car is being held as evidence or to be processed for evidence, it can be held as long as it is needed.


What are the laws of repossessed cars in Canada?

Cars repossessed laws in Canada a vary by provine.Whether your car will be repossessed depends on such factors as the province you live in and how for behind you are with your payments.Vehicle repossessed is negative impact on your credit rating. If you want more information email me at natalsiapatterson34@gmail.com


What happens if you get your car repossessed?

if i get my car repossessed, can they put a llien on the house?


How can you locate your repossessed car?

Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.


Can your car be repossessed if you lose your job?

No, but your car can be repossessed if you don't make the payments.


Can a car be repossessed if involved in bankruptcy?

Depending on your state... a car that is included in a Chapter 13 Bankruptcy cannot be repossed. The Bankruptcy laws protect you from repossession. Just as long as you are in Chapter 13 and are making payments to the Trustee, your car cannot be repossessed.


Can your car be repossessed due to no registration?

No, a car can not be repossessed due to having no registration. A car can be repossessed for non payment. The police can have a car towed to an impound lot if there is no registration.


Can a car be repossessed with a person in the car?

No.


Can a car be repossessed from a car dealership?

if the car dealership does not pay for the car in full or pay their bills then the car would most likely be repossessed


Auto repossession laws in Nevada?

In the state of Nevada, if you do not make payments on a car you are buying, it can be repossessed with no notice given to you. Once repossessed, you will still be liable for all further payments even if the car is sold at auction to another buyer.


When a car is repossessed what do you do with the insurance?

When a car has been repossessed the person paying the insurance should cancel it.

People also asked