Q: Is it possible to file an emergency chapter 7 through an attorney to protect my car from repossession.
I am late on a payment with another payment due in mere days and I’m really concerned.
A:
It is possible to file an emergency bankruptcy petition and obtain an automatic stay pursuant to Bankruptcy Code Section 362 which is applicable to vehicle lenders and would be violated if repossession subsequently occurred.
However, a Chapter 7 petition alone isn't necessarily going to accomplish your presumed goal of retaining possession of your vehicle for the indefinite future.
You should consult with an experienced bankruptcy attorney to review all of your financial facts and circumstances and discuss your goals and options.
A: Yes. It is.
A: A skeletal chapter 7 bankruptcy filing will trigger the automatic stay provided by 11 USC 362 and temporarily protect your vehicle from repossession, but the protection will be brief as you are behind on a secured debt. If your goal is to keep the vehicle chapter 13 bankruptcy may be a better solution. You should contact a local bankruptcy attorney to discuss your options under chapters 7 & 13.
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.
