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Answered 2009-06-02 02:28:13

You give your car back to the bank after filing bankruptcy, the bank will ask your attorney for the vehicle back and give you a certain amount of time and the location to return it to. Definitely do not give it back before you file you will need to have it discharged legally from your debts.

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Should a Christian file bankruptcy?

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

What bankruptcy information should you know before you consider filing for bankruptcy?

Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.

How do you liquidate a company before filing bankruptcy?

You should liquidate the company after filing bankruptcy. If you do it prior to filing, it might be seen as an attempt to commit fraud and not pay off debtors. You would be safer to file and then follow the directions necessary. Consult an attorney in your area before making any big moves!

Can you hold your passport after you get declared bankruptcy?

A bankruptcy filing or discharge in bankruptcy should not have any effect on your US passport.

How much debt should one have before filing for bankruptcy?

It would depend on the person as to how much debt one would have to have before filing for bankruptcy. Some people can have more debt than others and be ok with it, while others would feel the need to file.

What should you do before filing bankruptcy?

Before filing Bankruptcy, one must consider all the other ways to repay their debts. Bankruptcy filing is not an easy task, as it involves a series of legal procedures. If a person is about to file for chapter 7 bankruptcy, then they must be prepared to liquidate their non-exempt properties. The bankrupt persons must analyze their financial position and make a list of all available assets and properties in order to find and dissolve the non-exempted assets. Nowadays filing bankruptcy has become easier by hiring a bankruptcy lawyer, one can find the available lawyers through some websites like bankruptcy.expert, nolo.com

What will happen to my 401k when filing bankruptcy?

These assets should not be effected at all.

Can I file for Bankruptcy after a short sale of your home?

What does selling my home have to do with your filing bankruptcy? If it was your home you sold short, assuming an arm's-length sale to a 3d party with no fraud or deception, you should not have a problem with filing bankruptcy.

What is necessary to file for bankruptcy?

Filing for bankruptcy is a complicated process and one should consider hiring a lawyer to help with the filing process. You also need to undergo credit counseling and be aware of what type of bankruptcy to file.

What are the rules for refinancing after bankruptcy?

The rule for refinancing after bankruptcy is that you should wait 10 years after filing bankruptcy even chapter 13 so that the bankruptcy is off of your credit and you can get a better chance of getting the refinance. You could try before it's removed but you will have difficulties.

Is financial debt solutions a better solution fo filing bankruptcy?

Debt solutions or consolidation is something you should look into before filing bankruptcy. Consolidationg your debt allows you to make smaller payments over a set amount of time and can positively effect your credit.

Can you file for divorce after filing bankruptcy?

of course you can. One does not inhibit the other. If you filed for bankruptcy as a couple, then the bankruptcy will proceed during the divorce, it just may complicate things. If you filed for bankruptcy as an individual then there should not be too much of an issue because you were only filing for bankruptcy as to your individual debt.

When filing chapter 13 should all debt be included?

when filing any bankruptcy you must disclose ALL debts.

Should I file for a divorce before filing chapter 7?

Every case is different, but if the two of you file a joint petition for bankruptcy before the divorce, you will both avoid problems. Consult a lawyer who knows both divorce and bankruptcy law.

How does one know if they should file for bankruptcy?

An individual shouldn't take filing for bankruptcy lightly. A bankruptcy should only be considered if that person is drowning in debt and has exhausted all other solutions.

Can you claim bankruptcy on IRS debt?

Filing for bankruptcy is one of five ways to get out of tax debt, but you should consider bankruptcy only if you meet the requirements for discharging your taxes.

Should you continue to pay credit cards when deciding bankruptcy?

No. If you are seriously considering filing for bankruptcy, then you should not use nor pay on your unsecured credit cards. This is due to the fact that you are going to be eliminating those debts. You will need that money to pay your court costs and attorney's fees when filing for bankruptcy.

Should you spend your tax refund before you file for chapter 7 bankruptcy?

If received for last year yes. the one for next year, received after filing, no.

Will my mother-in-law loose her house if my husband's name is on her deed and we file for bankruptsy?

Yes. That issue should be discussed with an attorney before filing a bankruptcy.

What happens when a judgment is against us while in the process of claiming bankruptcy?

If you are filing bankruptcy, you should have a bankruptcy lawyer onboard, and this is a question for him or her to deal with. You do not want to go through a bankruptcy on your own, especially as the bankruptcy rules have changed.

Can should your spouse get a job after filing bankruptcy chapter 7 but before the meeting of creditors?

You can switch jobs at any time during bankruptcy. The tax returns for the previous year are usually used when figuring income in bankruptcy. It is doubtful the new income would be a factor.

Can you sell personal property when filing bankruptcy?

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.

What happens to your credit rating when you file bankruptcy?

Credit rating plummets when filing for bankruptcy. Bankruptcy should be the last resort and one should try everything to not go bankrupt - keep saving as much as possible.

How would one file for bankruptcy?

There are a number of steps to be taken when one is filing for bankruptcy. First one should decide if this is the right thing to do. It is wise to consult with a lawyer and decide whether to file for chapter 7 or chapter 13 bankruptcy. One should then undergo credit counseling and then complete the filing process.

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