Bankruptcy Law

When can you sell your car after filing for bankruptcy?


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2009-12-16 18:16:52
2009-12-16 18:16:52

What kind of bankruptcy? 7? 13? If your bankruptcy case is still open, you cannot sell without notice to the trustee and a motion to sell. If you exempted the car, the proceeds may not be exempt. Check with your lawyer or a bankruptcy lawyer in your state.

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No - having had a car that was re-possessed will not affect the filing of a Bankruptcy.

If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.

You are not supposed to sell any property after you file bankruptcy. Those assets can be used to pay your creditors.

Sure if you can find someone who will give you credit. If you pay cash the judge might make you sell it during bankruptcy to satisfy other unpaid creditors.

If you are filing for bankruptcy, and you try to cosign -- two things can happen. 1. the lender will turn you down. 2. If the court finds out you have applied for credit the bankruptcy can be stopped. If you mean that the car and loan will be for you during or after the bankruptcy, this still has to be disclosed and again the bankruptcy can be stopped.

You are not prevented from moving as a result of filing bankruptcy. Filing bankruptcy is not a crime.

To receive a car loan after filing for bankruptcy you will probably have to rebuild your credit before applying. You can also find a co-signer with amazing credit to counteract yours.

If you buy a used car with cash before filing a chapter 7 bankruptcy, How long do you need in between purchase and filing to keep the vehicle if the vehicle meets exemption in a state?

You not only can, you must. All creditors must be listed in any bankruptcy filing.

I have file for Chapter 7 twice and it has had no effect on my car insurance.

If the property is sold for fair market value, yes.

yea, they are your possetions, so the bank will sell them to get money back

What do you mean? Filing bankruptcy is basically the same no matter what the reason for the filing.

No, only unsecured debt is discharged.

"It is possible to refinance after filing for bankruptcy. However, there must be a certain interval of time between refinancing and filing for bankruptcy that varies depending on the country you are filing in."

When filing bankruptcy all assets are placed in a bankruptcy estate. Some assets are allowed to be protected and qualify for an exemption by the trustee. Items that are placed in exemption are permitted to be sold, but the trustee should be notified prior to the sale.

If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.

If you are filing for personal bankruptcy it is not necessary to have a lawyer. If you are filing for business bankruptcy, you must retain a lawyer on your behalf.

Filing bankruptcy has no affiliation with religion. If filing bankruptcy is he best financial options available, then you should do it.

This would be best answered by a good bankruptcy attorney who knows Arizona law. I believe no matter what you do bankruptcy or not, they will get the car, it does not wipe your credit clean.

Bankruptcy will not stop a garnishment. You cannot set aside civil judgments by filing bankruptcy.

Your question is not trivial, and there may be some variance due to asset equity thresholds and such parameters set by the state of jurisdiction for the bankruptcy filing. An excellent primer about filing chapter 7 or 13 bankruptcy is "The New Bankruptcy, will it work for You?" 3rd edition by Stephen Elias, published in 2009 by Nolo; 346.078 E42N Dewey decimal.

Only if you don't report it to the court handling the case.

Nothing, but my advise to you is that if your bank rupt you should sell the car

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