How long after filing does the trustee have to take possession of unsecured property because you own a car you surrendered but the car is still sitting in your yard and the title in your hand?

Answer

I presume you filled according to your question. Ask your atty. Otherwise, once the judge dismisses your case, it's all over...but, you never know with some of these judges. I read they are real nasty in Chicago.

Answer

It depends upon the type of bankruptcy or if the car was considered exempted and disqualified by the trustee. A car is considered "secure property". If the vehicle qualifies for the bankruptcy exemption, the debtor can voluntarily relnquish it and pay any amount discrepancy and fees when it is sold; make an agreement with the lender to continue payments and catch up missed payments. The lender options are reaffirmation of the contract, repossession of the vehicle, or suing the borrower for the full amount of the loan plus applicable fees.