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Repossession
Bankruptcy Law
Income Garnishment

Will filing bankruptcy avoid garnishment after a vehicle is repossessed in Tennessee?

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2014-02-06 18:32:26
2014-02-06 18:32:26

If filed in a timely manner. But have you considered the LASTING effects of filing?

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Bankruptcy is an EXCELLENT way to stop Garnishments. Many attorneys can file an emergency peition to get that garnishment stopped NOW.. then go back and complete the bankruptcy later.

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Possession is 9/10th of the law. Not if the vehicle qualified to be listed in the bankruptcy filing. In which case no action pertaining to the vehicle can be taken until the bankruptcy proceedings are finished.

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No. But they can ask to be excluded from the bankruptcy. Usually a deal can be made with the lender to keep a vehicle. If it is covered by the exemption and the borrower lives up to the contract agreement.

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A vehicle is a secured debt, therefore bankruptcy action would not reverse the repossession. Bankruptcy only places a temporary halt to repossession or foreclosure of secured property. The only option available to the borrower to recover a repossessed vehicle is to reaffirm the lending agreement or make some other type of settlement with the lender.

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If it meeets the conditions of the B/K, yes. Call a local B/K attorney.


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