QUESTION
If I've not made payments on a disabled truck for 2 years, can I apply for an abandoned or salvage vehicle title?
Asked on Mar 30th, 2017 on Bankruptcy - Wisconsin
More details to this question:
I've not made payments on a disabled truck for 2 years. They attached my income tax last year for $2,000 but no other payments have been made. I have been making insurance payments as required by law. I'd like to keep the truck but owe over $20,000 and needs $10,000 to repair. I've asked them several times to remove the vehicle but they haven’t. I just filed chapter 7 and the truck was relinquished to the loan company.
4 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Talk to your lawyer about having the truck removed as a violation of the discharge injunction.
Answered on Jun 25th, 2017 at 10:33 AM
1 Award
While the chapter 7 is open you need to file a motion to redeem in the bankruptcy court. This allows you to pay the current value of the vehicle and get a clean title. The DMV will not give you a clean title without the lender signing off.
Answered on Jun 23rd, 2017 at 4:57 PM
I would not have a problem with you submitting an application, but be sure you read the DMV instructions carefully before submitting it. I think you meant to ask about getting a title for an abandoned vehicle, not a salvage vehicle title, as a salvage title would require the vehicle to be damaged.
Answered on Jun 23rd, 2017 at 4:57 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Do you own the truck? Apparently you do not. Your failure to pay the creditor does not give you any special rights-unless the lien-holder consents. Sorry.
Answered on Jun 23rd, 2017 at 10:01 AM