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Yes, filing for bankruptcy can affect your car loan. If you include the car loan in your bankruptcy filing, you may have to surrender the vehicle or negotiate a reaffirmation agreement to keep it. Additionally, bankruptcy can negatively impact your credit score, making it harder to obtain future loans. However, not including the car loan in bankruptcy may allow you to retain the vehicle, provided you continue making payments.
What else can I help you with?
Can you go to jail after your car has been repossessed and you don't want to pay the loan?
No you can't be sent to prison.You can declare bankruptcy .
Where would you find records of past car loans which was finance by Bank One then loan went into bankruptcy and paid out by bankruptcy?
Try searching your credit report for info. Last resort would be to go to Lawyer that filed your bankruptcy.
How do you get a car loan with an open bankruptcy a total loss car and no co-signer?
go to a buy here pay here car lot with a nice down payment you will get a car. BUT ask your trustee for permission.
If you filed bankruptcy in Illinois and have not made a car payment this month but notified the bank of the bankruptcy will the car be repossessed or will you be notified to return it?
If you are not going to reafirm the loan, in other words- keep and pay for the car, then yes the bank will want the car back. Usually they will try to get the car back shortly after your 1st court date when the court has oked your petition to go thru bankruptcy.
Will you lose your car if you make the payments but the loan is in someone else's name and they go bankrupt?
What will happen depends on the decision of the bankruptcy judge. If you are making the payments but the loan is in someone else's name, you do not have a legal leg to stand on. Still, the bankruptcy law in the United States, recognizes the need for an automobile. So, that person may keep the car.
If you declare bankruptcy is your ex-spouse obligated to pay your joint loan cosigned by your relatives?
If you wife also co-signed on the loan, then, yes, she is. Your bankruptcy does not make the debt go away. It only negates your liability on the loan. It doesn't affect any one else's liability on the loan.
Can you go to jail after your car has been repossessed and you don't want to pay the loan?
No you can't be sent to prison.You can declare bankruptcy .
How do you get a loan without a cosignor?
I am in college my mom defaulted on bankruptcy how can I get a loan to go to school?
Where would you find records of past car loans which was finance by Bank One then loan went into bankruptcy and paid out by bankruptcy?
Try searching your credit report for info. Last resort would be to go to Lawyer that filed your bankruptcy.
How do you get a car loan with an open bankruptcy a total loss car and no co-signer?
go to a buy here pay here car lot with a nice down payment you will get a car. BUT ask your trustee for permission.
If you filed bankruptcy in Illinois and have not made a car payment this month but notified the bank of the bankruptcy will the car be repossessed or will you be notified to return it?
If you are not going to reafirm the loan, in other words- keep and pay for the car, then yes the bank will want the car back. Usually they will try to get the car back shortly after your 1st court date when the court has oked your petition to go thru bankruptcy.
What if in bankruptcy you ask to keep your car and then can't pay it?
The car will be repossessed, unless you surrender it. If you owe more than the car is worth, the lender will not likely want to accept a surrender unless you can pay the balance due on the loan. Your state may not allow creditors to go after loan balances if they repossess a vehicle. Consult a local bankruptcy or consumer debt attorney.
Will you lose your car if you make the payments but the loan is in someone else's name and they go bankrupt?
What will happen depends on the decision of the bankruptcy judge. If you are making the payments but the loan is in someone else's name, you do not have a legal leg to stand on. Still, the bankruptcy law in the United States, recognizes the need for an automobile. So, that person may keep the car.
Where can someone go to obtain a bankruptcy home loan?
To obtain a bankruptcy home loan one could make an appointment with their local bank to talk to an advisor. One could also make an appointment with a bankruptcy lawyer.
Where can one fine help in getting a loan after bankruptcy?
If you are struggling to get a loan after bankruptcy, go to Loans Pronto. It doesn't matter if your credit history isn't great, and the application is simple and easy.
If a bank declares bankruptcy how is a loan protected?
Someone will buy the loan from the bank. Unfortunately, they don't just go away.
What happens to the co signer if the borrower files bankruptcy?
If you are talking about someone who cosigned for your loan filing bankruptcy, As long as you continue to make your payments on time, nothing will happen. If you are talking about someone you cosigned for taking bankruptcy, you may very well have to pay this loan. Contact the lender.
