Q: Filed bankruptcy over a year ago. Car has been sitting n yard waiting on reposeesion for 15 months. How long must I wait
If I move am I responsible for the car, because it is undrivable (engine problem) so i have to pay to have it moved whenever we decide to move into a new place. The bank had been saying for a year that they are coming to get it, but never has and it's just taking up space. I don't want to keep calling them and asking when are they finally going to come pick it up. My question is how long must I wait. Or is there some possession or statue of limitations on a repossession? It's been sitting in our yard since DECEMBER 2015. (ALMOST 16 MONTHS)
A:
You want it off your property and out of your name. The common problem is the lender will not release the lien so you can sell or scrap the car but won’t repossess it. If the lender is local, you could take it to them. If you had continued to make the payments and paid off the car the lender should release the lien on the title. With the title in hand, you can sell or recycle the car. Since you did not pay off the lien on the car you can contact the lender and see if they will release the title so you can recycle the car. They may do so for a small fee which might be less then having it towed to the nearest branch of the bank. Be sure to mention it does not run. They may demand you pay off the loan in full before they release the lien.
Contact your attorney about the situation. They may have experience with this particular creditor and have a solution. You can search for an attorney using the Justia "Find a Lawyer" link at the top of this page.
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