QUESTION
What actions can the lender take if I stop making voluntary payments?
Asked on Jul 04th, 2013 on Bankruptcy - Missouri
More details to this question:
I had a recent chapter 7 bankruptcy that was discharged 1 month ago. I did not sign a reaffirmation agreement with my auto lender. I have been making voluntary payments and still owe about $1000. The department of motor vehicles just sent me a clear title with no lien holder. I ran my plates through the local police department and they show me as owner and no lien holder.
3 ANSWERS
William Rhymer
If you listed the auto lender as a creditor in the Chapter 7 and the debt was discharged and you did not sign a reaffirmation agreement, then you do not owe them any money for the debt. Their only option would have been to pick up the vehicles because of the lien on the title. However, if they have released the lien on the title with the Department of Motor Vehicles, then they cannot do anything to you. You would be the owner of the vehicle with a clear and free title.
Answered on Jul 09th, 2013 at 9:45 AM
If the lender is no longer listed as a lienholder on the title to your vehicle, the lender does not have the right to repossess your vehicle.
Answered on Jul 08th, 2013 at 2:00 PM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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They may try to repossess the vehicle. Or they can sue you in a civil lawsuit.
Answered on Jul 08th, 2013 at 11:37 AM