QUESTION
Can Car Registration Loans be included in Chapter 7 Bankruptcy?
Asked on Nov 04th, 2012 on Bankruptcy - California
More details to this question:
If loans are in Default can the car be Repo'd if the loan holders DO NOT have the Title? Or just will they just try to put a Judgment or sue me?
5 ANSWERS
When you file bankruptcy, you must disclose all of your assets and all of you debts. I would assume that if the loan is not being paid (bankruptcy aside) the car will be repo'd if it is collateral for the loan. If you file, they must get the courts permission to repo.
Answered on Nov 08th, 2012 at 3:21 AM
Bankruptcy Attorney serving Myrtle Beach, SC
at
Law Office of Margaret L. Evans, PC
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Question: Can Car Registration Loans be included in Chapter 7 Bankruptcy? Question Detail: If loans are in Default can the car be Repo'd if the loan holders DO NOT have the Title? Or just will they just try to put a Judgment or sue me? *- the car can be repossessed and a judge can issue an order authorizing a title to be issued in the name of the lender; depends on what the lender wants to do; even if they repossess the vehicle, they can STILL hold you liable for the deficiency judgment (difference between what it sells for and what is owed on it)* *Yes, this type of debt can be included in a BKY, but be careful to consider whether or not you should surrender the vehicle in the bankruptcy*
Answered on Nov 06th, 2012 at 8:43 PM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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The question is not understandable.
Answered on Nov 05th, 2012 at 5:20 PM
Bankruptcy Law Business Attorney serving Asheville, NC
Partner at
Pitts, Hay & Hugenschmidt, PA
2 Awards
The lender cannot repossess if it doesn't have a lien on the title.
Answered on Nov 05th, 2012 at 5:20 PM
Business Litigation Attorney serving Orange, CA
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Law Offices of Frank Granato
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Yes. The car can be repossessed even if you don't have title.
Answered on Nov 05th, 2012 at 5:19 PM