QUESTION
If my car was repossessed, can I file bankruptcy to get it back?
Asked on Jul 07th, 2012 on Bankruptcy - New Jersey
More details to this question:
I lost my job and could not pay for several things, car, home, etc.
8 ANSWERS
Dennis P. Mikko
If there was a valid lien on the car, bankruptcy would not ultimately regain you the car.
Answered on Aug 07th, 2012 at 1:41 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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If it has already been repossessed a bankruptcy will probably not help you get it back.. You needed to file before it was repossessed.
Answered on Aug 07th, 2012 at 12:06 PM
Litigation Attorney serving Westland, MI
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Clos, Russell & Wirth, P.C.
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Assuming you could get the auto returned, which is doubtful, you only get to keep the car if you reaffirm the debt.
Answered on Aug 03rd, 2012 at 3:14 PM
Family Attorney serving Hurst, TX
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Law Office of Eric A. Maskell
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Yes. If you file the bankruptcy within 10 days or prior to the resale of the vehicle you can get the vehicle back from the creditor.
Answered on Aug 03rd, 2012 at 2:59 PM
You need to talk to an attorney about your specific situation. However, in general, you will not be able to get the car back without some way to assure the lender that you will be able to make the rest of the payments you owe. So, if you have no job, you need to bring something else to the table.
Answered on Aug 03rd, 2012 at 2:52 PM
Bankruptcy Law Attorney serving Huntington Woods, MI
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Austin Hirschhorn, P.C.
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If your car was repossessed for nonpayment the car would not become part of your bankruptcy estate if you filed for bankruptcy and the bankruptcy court would not be able to return it to you.
Answered on Aug 03rd, 2012 at 2:51 PM
Unfortunately, no. Chapter 7 will likely discharge you from owing the deficiency balance on the repossessed vehicle, along with other credit cards and various unsecured debt. The only way to get a vehicle back post repossession is to reinstate the vehicle in full with all the missed payments plus the costs that get tacked on by the lender.
Answered on Aug 03rd, 2012 at 2:41 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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Once the car is taken by repossession, it is very difficult to get it back even w/ a bankruptcy.
Answered on Jul 27th, 2012 at 3:22 PM