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If you filed bankruptcy and one of the creditors had a lien on a car do you get the title back after the bankruptcy is final?
Wiki User
∙ 14y ago
It really depends on the type of bankruptcy petition you file. If you file for Chapter 7 bankruptcy the creditor who put the lien on your car may be able to take your vehicle. If you file for Chapter 13 bankruptcy you'll have the opportunity to make payment arrangements with your creditor and in that case you should get the title back after all of your payments are made and your amended. contract with the creditor has been fulfilled.
Wiki User
∙ 14y ago
Wiki User
∙ 14y agoNormally, as a secured creditor he would get to repossess and sell the car to recover as much of what you owed. Or if you reaffirmed the debt, then the lien stays as does your obligation to pay.
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If you filed bankruptcy and have decided to sell your house Do you have to let the realtor know about the bankruptcy?
If you filed for bankruptcy and the title company knows about it, then you cannot sell your house. Your title is not free and clear so a buyer could not purchase. It also depends on the bankruptcy, you should talk to your lawyer.
Can you sue the repo man if he takes the truck after you filed bankruptcy?
(A): "Can you sue the repo man if he takes your truck after you filed bankruptcy?" (B): The answer is "No". The truck is the property of the dealer, or finance company, until your final payment to them is made, and the receiver in bankruptcy may not seize property of which title belongs to a second party (dealer or finance company). Chris
How can you get your title back if you have filed bankruptcy and the lien holder did not show up for the meeting of creditors?
The creditor does not waive the lien on your auto simply because they did not appear at the 341 meeting of creditors. It is your responsibility to reaffirm (new contract) or surrender the auto. There are situations that may exist where you can avoid their lien if the liened property is not properly perfected. Bankruptcy is not black & white. It is strongly advised that you seek counsel.
Are you safe from creditors if you buy the assets of someone in bankruptcy without knowing they are bankrupt?
No, you are not. When someone files bankruptcy the title to their property is held by the trustee in bankruptcy. The bankrupt cannot sell any property therefore, if they do, the title is not clear. You may lose the property to the creditors if someone tracks it down. You would then be out of the property and any money you paid for it.
What is an automatic stay of bankruptcy under title 11?
Automatic stay prevents creditors from taking any action to collect on debts.
Can you take the possession of the car if you were the cosigner of a person who filed bankruptcy even if they have included the car in bankruptcy?
No, not unless your name is on the title.No, not unless your name is on the title.No, not unless your name is on the title.No, not unless your name is on the title.
How do you get the title for a car that was paid for in bankruptcy and the lien holder no longer has your information Or they aren't released on the title?
I think of two ways. Call the DMV and have them do a search using the VIN number or call the court for a copy of the papers filed for bankruptcy. There should be a copy of the title of the car in the paperwork.
Can you get a student loan if you have filed bankruptcy?
I am trying to figure this out myself as I have recently filed bankruptcy and both my husband and I are students. There is a portion of the bankruptcy code that makes it illegal for government agencies to refuse student loans to those who have filed bankruptcy. So, as far as getting Title IV funding, such as government backed loans, you should still be able to get them. Title IV loans are not granted based on credit worthiness and therefore should be given to those who have filed banlruptcy, as long as there are no other eligibility issues, such as a student loan in default, drug conviction, etc. If you want to get a loan from a private lender, then they are under NO obligation to give you a student loan if you have filed bankruptcy or have other credit problems. For example, the Plus! loans that are available to parents are based on creditworthiness, so a bankruptcy would affect your ability to get this type of loan. As far as my student loan after bankruptcy, I did have to fill out additional paperwork and am still awating the results. I will post again after I find out what happens.
If you have filed a leased vehicle in a bankruptcy but they have never came to take the car back can you continue to drive it and eventually get a title for the vehicle in the state of Washington?
If the vehicle was listed in the BK and no relief of stay was filed for that vehicle, they won't come get it. They can't. Can you get a title? Yes. After the loan is paid off.
Do you give up vehcile title in bankruptcy?
If you actually own the vehicle free and clear (no outstanding loan) you will not lose it, but you may be ordered to sell it (liquidate it) in order to pay off your creditors.
You filed bankruptcy but opted to pay off your car loan you have documented proof of this the court went and filed it as a bankruptcy and you need the title of the car?
If all you did was sign the "Statement of Intention" saying you intended to reaffirm the debt, and did not in fact reaffirm the debt with a reaffirmation filed with the court, and did not continue making car payments after the date of filing, the secured debt survived the filing and you are not entitled to the title until you pay the loan off. The lender can repossess the vehicle and sell it. It's not a question of what the court did, but what you did or did not do with respect to the loan.
Can you be on title of a property that someone else is purchasing if you filed for bankruptcy?
Yes- but you would need the court's permission to sell the property- since it would be considered part of the bk estate.
