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As long as you continue to pay your car note, PROBABLY not. Do not, fall behind on your payments though, ot it WILL be re-possessed.
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∙ 14y ago
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Will you lose your car in NY after filing chapter 7?
If a car is leased, you can keep it as long as you are paying it on time.
What happens if you wreck your car after filing for Chapter 13 bankruptcy?
If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.
Can you receive a car accident insurance settlement after filing a Chapter 13 bankruptcy if the accident happened after the filing?
Yes
Will filing bankruptcy affect your car insurance?
I have file for Chapter 7 twice and it has had no effect on my car insurance.
What if your car was reposed after filing a chapter 13 dont you get it back?
If the Chapter 13 was filed before the car was sold at auction, you should get it back. Otherwise, it's too late.
If you own a s corporation will you lose your house and car when filing chapter 7?
If it is the S corp going BK it does not effect your personal assets, except to the amount you own in the S corp or co-signed loans for it.
When filing Chapter 7 bankruptcy should a car that is not paid off be included on the schedule of personal property?
no
Can you sell your car and payoff the loan after filing chapter 7 before the discharge?
You should be able to do so, yes.
What can you lose in bankruptcy?
This is largely dependent on the chapter of bankruptcy that you're filing under. Is it for an individual? Is it for a business or a corporation. I will take the most common type of bankruptcy-Chapter 7-for an example. Under Chapter 7, the bank is technically allowed to take personal assets and property and liquidate it/them in an attempt to pay back debtors. But there are a number of exemptions and for many people, they do not lost personal items after filing for Chapter 7. Common exemptions when filing for bankruptcy include tools of the trade-such as a car that is used to commute to and from work-and clothing under a certain dollar amount. The article below lists many of the possible exemptions for different chapters.
Filing a Chapter 7 with 2 payments owing on your car how long do you have in getting it current before the creditor can take it if you plan on curing the default 30 days after filing?
When you file a Chapter 7 bankruptcy, you have the option to keep your home and 1 vehicle. If you are able to make the last 2 payments on the car, you can keep it and not include it in the bankruptcy.
How long after a chapter 7 bankruptcy can someone get a car lease?
You can get a car lease immediately after filing for Chapter 7 bankruptcy. Since it would be a post-petition debt, there is no waiting period provided that you qualify income wise. Some lenders may require you to have a discharge, however, it is not required under the law to lease post-filing.
Can you keep your paid off can worth 12000.00 and IRA when filing bankruptcy?
Not if its a chapter 7 BK; there is too much equity (value) in the car (since most vehicle exemptions are about $3,000 or lower. If filing chapter 13, it might be possible to keep the car. But if its a chapter 7, it is highly likely that the car would be seized and sold off by the BK trustee to pay off your creditors, or make you pay the difference between the car value and car exemption. (and before you ask- NO, do NOT sell your car to friends/family/neighbors, etc... for a $1)
