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There's no definitive answer to a question of this type, as the final decision would depend on the person's overall financial situation. Bankruptcy is a very serious action and should only be used as a last resort. Especially in light of the new bankruptcy reform laws. Even in bankruptcy (unless it is a 13) a vehicle may have to be forfeited, depending on the vehicle exemption status and the terms the lender is willing to agree upon.
What else can I help you with?
Can you file bankruptcy if you are hiding your car from being repossessed?
You can, but it most definitely would not be advisable. The vehicle would have to be listed in the bankruptcy schedule as a secured debt which means it is NOT dischargeable in a BK.
If your car has been repossessed and you have not yet filed bankruptcy can you still be eligible to get the car back after you file?
If the car is gone, the car is gone. The car would only be covered in BK if you still had it. If you file Chapter 13 bankruptcy within 10 days of your car being repossessed, or in some states before it has been sold or auctioned, your creditor must return the vehicle to you.
What happens if my car is repossessed and then I file bankruptcy?
Any leftover debt from that car repossession can be put in your bankruptcy petition..so if you owed $12k and the bank sold it for $6k..then you can file bankruptcy on the remaining $6k.
If you cosigned a car loan for your daughter and the car got repossessed do you both have to file for bankruptcy?
Having a car or other item repossessed does not mean anyone has to file for bankruptcy. Bankruptcy is to protect you from creditors and should be sought if you owe more than your net worth and have no reasonable prospect of being able to pay what you owe.
If you file for bankruptcy and your car is repossessed can a friend take a loan out for you to purchase a car?
Of course, it won't legally be your car however.
Can you file bankruptcy if you are hiding your car from being repossessed?
You can, but it most definitely would not be advisable. The vehicle would have to be listed in the bankruptcy schedule as a secured debt which means it is NOT dischargeable in a BK.
If you file for bankruptcy and your car is being repossessed through the bankruptcy with a loan on it and the car interior has been modified and damaged would you still owe anything on it?
If the car is being repoed then you owe something.
Can you file for bankruptcy after 3 years of car being repossessed?
Sure
If your car has been repossessed and you have not yet filed bankruptcy can you still be eligible to get the car back after you file?
If the car is gone, the car is gone. The car would only be covered in BK if you still had it. If you file Chapter 13 bankruptcy within 10 days of your car being repossessed, or in some states before it has been sold or auctioned, your creditor must return the vehicle to you.
Will your wife have to pay if you file bankruptcy?
If her name is on a loan that you file bankruptcy on than she would then be responsible for that loan. Filing a bankruptcy only gets your name off the loan(s), you would both need to file together.
What happens if my car is repossessed and then I file bankruptcy?
Any leftover debt from that car repossession can be put in your bankruptcy petition..so if you owed $12k and the bank sold it for $6k..then you can file bankruptcy on the remaining $6k.
If you cosigned a car loan for your daughter and the car got repossessed do you both have to file for bankruptcy?
Having a car or other item repossessed does not mean anyone has to file for bankruptcy. Bankruptcy is to protect you from creditors and should be sought if you owe more than your net worth and have no reasonable prospect of being able to pay what you owe.
Can i join military if i file bankruptcy?
I would say yes.
If you file for bankruptcy and your car is repossessed can a friend take a loan out for you to purchase a car?
Of course, it won't legally be your car however.
Can you get your repossessed car back if you file Chapter 7 bankruptcy and start making payments?
You will have to ask your bank about that. They are in control now.
If you incur a debt after you file a bankruptcy can you claim it on the next petition?
Under the new bankruptcy rules, this would be hard to impossible to do.
Can you file bankruptcy for you decreased parent?
I suspect not...and as it would get you to the same point as their estate will anyway...why would anyone bother?
