Q: I have a car that I just got out of repo. Made a few months pay on it. Can I file chapter 7 and not make this payment
Will they take the car or is it protected by bankruptcy?
A: If you don’t make the payment they will ultimately take it but it is temporarily protected by the automatic stay. If you want to keep the car, keep paying for it. If you don’t want the car, stop paying for it.
A: With vehicles in a Chapter 7 bankruptcy, you must inform your creditor of your intent to either keep or surrender the vehicle. That document is called a Statement of Intention. If you are not current at the time you file or if you later become delinquent on the vehicle during the bankruptcy, the creditor may seek to recover the vehicle by filing a motion for relief from stay. You probably just need to be clear with what you wish to do and then your attorney can handle the matter from there. Thank you. Ken Sheppard, Jr.
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.