Maybe. Even if no one knows where the car is, the bank can still demand payment if it was not fully compensated for the entire amount of the loan. You can contact the police where you used to live to see if the car was impounded from the street. If the car was repossessed by the bank, the police may also have a record of the event. If it wasn't impounded or repossessed, you should report that the car was stolen, in which case it may be covered by your auto insurance policy. The debt can be included in your bankruptcy petition as a secured loan.
Answered on May 05th, 2014 at 6:42 AM