Q: My truck was repossessed, I’m thinking of filing bankruptcy, can I get it back?
A: You can get it back if you pay the par due amounts owed on it. You probably should do this prior to filing bankruptcy as the filing will not cause the truck to be returned to you.
A: It depends on when your truck was repossessed. Typically, lenders are required to hold a vehicle after repossession in Texas for 10 days after it was repossessed. You can file Chapter 13 Bankruptcy within that 10 days and demand your truck back, but will have to have proof of insurance on the truck. Make sure to contact an experienced bankruptcy attorney in your area quickly.
A: If you qualify for chapter 13, and you file before the vehicle is sold, then yes you should be able to get the vehicle returned to you. Your chapter 13 plan would need to provide for payment of the vehicle plus some interest, over a 3 to 5 year period. If you want to try to save the vehicle, you should consult with an experienced bankruptcy attorney in your area immediately. Once the vehicle is sold, which could be as little as ten days after repossession, it is too late.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
