It depends. If the repo was after you filed, and the lender did not obtain relief from stay to repo, you file a motion to hold the lender and the repo entity in contempt of the automatic stay, and ask for an order that the lender return the vehicle. If the lender did get relief from stay, you cannot do anything. If you are representing yourself, as the saying goes, you have a fool for a client. If you have a lawyer, why aren't you asking him/her?
"How will filing for bankruptcy help before your car is repoed? As soon as the B/K is filed, an AUTOMATIC STAY is in force. lenders must stop ALL collection efforts. If your not able to file for bankruptcy before being repoed how long will it take for them to garnish your wages in Ohio. ": That will depend on how quickly the lender files the paperwork, the court gets to it,ect. Guesstimate?? 1-6 months.
Because of the "automatic stay", which goes into affect as soon as a Bankruptcy is filed, your car cannot be re-possessed while the Bankruptcy is in progress (unless the creditor files a motion with the court asking for relief from the automatic stay). However, as soon as the Bankruptcy is discharged or closed - which occurs approximately 6 months after it is filed - the car can be re-possessed.
If the car is being repoed then you owe something.
Yes, its SO wrong. Same thing happened to me and the day I was to wire them the funds, they repoed my car. So, I got an attorney, filed bankruptcy and they gave me my car back. Now, they will get 1/2 of what we agreed on. Idiots.
I want to take the company that repoed my truck to court. I need to know what the statue of limitation is to file.
unless you opted to keep your car and continue to make payments, they should have repoed it already. in other words, if you still want to keep the car you can only if you keep paying for it.
No As far as finance company is concerned the car came with wheels, it has wheels on it when repoed. Done deal.
NO.
Let me get this straight. You filed B/K over 5 yrs. ago and the car was/is repoed recently? If this is correct, the car will be sold and the lender will want you to pay the balance still owed.
A repoed auto is usually sold far below its retail value. If you have a chance to sell it yourself and pay off the loan before it is repoed you will be dollars ahead, even if you lose money on the deal.
3 months
no