Can I file bankruptcy after my car was repossessed?

Provided you qualify, you can file for bankruptcy relief at any time, although you may not be able to recover your car after it has be repossessed. Consult with a bankruptcy attorney.

Yes, you can file for bankruptcy. Oftentimes there will be a deficiency after the car is sold at auction and the lender will then sue the borrower for the lost money. Also, if you file for bankruptcy right away there is a chance you can regain the car if you have the money and the other circumstances are right.

Yes, you can file after the repossession.

Yes you can file bankruptcy after a vehicle has been repossessed. This will help eliminate any difference or balance owed on the vehicle.

Yes, but you might want to speak with an attorney about the repossession first to see if there are any options open to you through state court.

Yes, and you can get your car back if you act before the car is sold at an auction. The bank or loan company will have to bring the vehicle back to where they took it. There is never any advance warning. Otherwise, people would hide the vehicles. The police are not notified until after the car is taken and sometimes never. People who have their cars repossessed usually know what's coming. If you are more than 30 days late on the car payment it could happen at any time although usually not that soon. If you file a Chapter 13 you can pay for the car in a Chapter 13 Plan over a period of up to five years. In most cases you can only pay the value of the car and not the amount owed. You must have bought the car over 30 months before the bankruptcy case is filed or refinanced the car. If you file a Chapter 7 you will have to pay the back payments or the car may be taken again 30 days after the meeting of creditors. Therefore, a Chapter 13 may be the best choice if you want to keep the car, particularly if you have had it for more than 30 months (or refinanced it) and it is worth less than what you owe on it. You must pay interest in the Plan for the car payments but can be as low as 4% in some cases. Also, don't forget that you must maintain collision and comprehensive automobile insurance in case of damage to the car.