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If neither the lender or the repossession company is notified that you have filed, and they proceed in good faith, your car can be repossessed. If either knowingly violated the stay, you may be able to redeem the vehicle, and the bankruptcy court may fine the agencies who acted in violation.

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15y ago

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What happens if you get your car repossessed?

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


What happens when a car is repossessed in the state of Georgia?

The car gets taken to the impound lot, and you have to file paperwork and pay a certain amount of money to get your car back.


What to do if your car gets repossessed in SC?

walk


Can a transfer of responsibility be made after car is repossessed?

No. Your car gets repossessed, it's on you. You don't get to pass that on to someone else.


Can you retrieve personal belongings from a repo car?

Yes you can retrieve personal belongings from your car if it gets repossessed. By law you are allowed 7 days after your car gets repossessed to retrieve your personal belongings.


What happens if a car has dents and is repossessed?

It gets placed in the junkyard. In order to get the vehicle back you must you pay your bill, as well as pay your local junkyard company to get your car back.


If you owe more than the car is worth what happens if it gets repossessed?

The car goes to auction, then you owe the remaining balance of you loan + repossession and storage fees minus what the car was sold for at auction.


After a car is repossessed what happens to the owner of the car does he have to pay it off or what happens?

The former owner of the car, now still owner of the DEBT, gets to pay the debt. The leinholder will likely get a judgment for the balance due and proceed to collect. Uless your name is 'turnip", you will pay.


How much would it hurt your credit if the car you co-signed for gets repossessed?

Just the same as if it was your car repossessed. Legally, you hold the same liability as the primary buyer.


What happens to your credit if your car gets repossessed?

Your credit is severely damaged. Stays on your credit report for 7 years. Don't let this happen. Contact the lender and work something out.


What happens to your credit after a car is repossessed?

Normally your credit is ruined for 7 years.


What happens when a car is repossessed and you are the cosigner?

You will also be liable for any deficiency balance