QUESTION
If I have a car repossessed years ago, showing as a charge off on my credit to clear in another year, do I include this total and item in Bankruptcy?
Asked on Jan 17th, 2013 on Bankruptcy - Michigan
15 ANSWERS
Yes, absolutely.
Answered on Jan 23rd, 2013 at 1:14 PM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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I would include everything that shows up on your credit as a debt.
Answered on Jan 23rd, 2013 at 1:13 PM
2 Awards
Yes, include all debts in your bankruptcy.
Answered on Jan 23rd, 2013 at 1:13 PM
Bankruptcy Law Attorney serving Austin, TX
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Law Office of Susan G. Taylor
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You should list the repossession creditor in a chapter 7 bankruptcy, to give them proper notice and to clear your credit report.
Answered on Jan 21st, 2013 at 11:33 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Yes. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
Answered on Jan 21st, 2013 at 11:32 PM
Bankruptcy Attorney serving Denver, CO
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Colorado Bankruptcy Law Group, LLC
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All of your debts must be disclosed on your bankruptcy petition. You should be very careful if you are preparing your own petition. Any mistakes could lead to debts not being discharged or assets not being protected.
Answered on Jan 21st, 2013 at 11:30 PM
In your bankruptcy petition I would certainly list the creditor involved in the prior repossession, and anyone else who said debt may have been assigned to. A "charge off" in no way eliminates your personal liability on this debt. Don't be surprised if the auto lender does not sell the debt to a junk debt buyer, who will then pursue you and try to collect the debt.
Answered on Jan 21st, 2013 at 11:30 PM
Deborah F. Bowinski
Yes. You must list every debt you owe, regardless of whether it is collectible or whether you are choosing to repay it. You must also list debts that you dispute - even ones you don't think you should owe.
Answered on Jan 21st, 2013 at 11:29 PM
Commercial Bankruptcy Attorney serving Davie, FL
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Law Office of Jeffrey Solomon
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You should still list it in the bankruptcy. A charge off does not mean that you can't be sued.
Answered on Jan 21st, 2013 at 11:27 PM
Bankruptcy Attorney serving Dallas, TX
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Polk & Associates
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Yes. The bankruptcy court should be advised of every debt that you might possibly owe. Just because the lender decided to change the way they account for it internally by classifying it as a "charge off" and putting it on their tax return that way, does not affect whether or not you still owe the debt. You should not leave off any debts even ALLEGED debts that you know about.
Answered on Jan 21st, 2013 at 11:21 PM
Tax Problem Resolution Attorney serving Lake Oswego, OR
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THE WUHRMAN LAW FIRM
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Yes. A charge off does NOT mean that you no longer owe the money, only that the lender has determined that it's a bad debt.
Answered on Jan 21st, 2013 at 11:19 PM
Chapter 7 and Chapter 13 Bankruptcies Attorney serving Dublin, OH
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Granger Law Firm LLC
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Yes, you have to include all debts in you bankruptcy. You would also want to list it incase they sell the debt to a collection agency who could then pursue it.
Answered on Jan 21st, 2013 at 11:18 PM
Bankruptcy Attorney serving Plantation, FL
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Moffa & Breuer, PLLC
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You must list all creditors and should list any potential creditors.
Answered on Jan 21st, 2013 at 11:15 PM
Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC
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Love and Dillenbeck Law
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Yes, you include all debts and assets in your bankruptcy case.
Answered on Jan 21st, 2013 at 11:12 PM
I would, just to be on the safe side.? If its included, no chance they can come back after you later.
Answered on Jan 21st, 2013 at 11:07 PM