There may be a local court rule on the issue, but there is no statutory limit. Chances are, if the car has not been picked up, the creditor is going to abandon it. Your lawyer should be able to move the creditor along in making a formal written decision to abandon or get the the vehicle.
Yes, this debt should have been marked as a bankruptcy by the original creditor. It cannot be changed from a bankruptcy to a discharge unless the bankruptcy did not go through.
Make sure the creditor was notified that their debt was included in and discharged through your bankruptcy. Once notified, they cannot legally update a trade line.
Yes, you are responsible for the balance not recovered through an auction, certains fees the lender charges which include the tow. If bankruptcy if filed with the amount of the debt owed, then the debt is discharged and you are not responsible for any money owed. Since bankruptcy is Federal, it applies to All states.
No. Sometimes it will be reported as "Included in Bankruptcy"
A dismissed bankruptcy whether voluntarily or done by the bankruptcy court will remain on a CR for the required 7 years.
There is no reason to repay a loan after a discharged bankruptcy, if you have done so, you can reclaim all your money from the creditor (you'll have to go through court).
If the creditor is a participant in the chapter 13 then they should have received notification from the bankruptcy court. The bankruptcy petitioner should notify the trustee that the creditor is in error. If the creditor is not a participant, they can continue to contact the debtor until they are notified in writing to "cease and desist".AnswerSend the creditor a written letter stated they are to cease contacting you by phone immediately and Amy only contact you through written correspondence. This is allowed by the Fair Debt Collections Act, a federal law. That should at least get you started.
If you quit making payments your creditor will reprocess it, the same thing will happen if you just take back to them yourself. Anyway you do this it will show on your credit report. The best thing would be to try and sell it or get someone to take over the payments. You can call the creditor and tell them you do not want it. As long as it was incldued in your bankruptcy and not reaffirmed they must take it back. It can only be marked on your credit report as discharged through bankruptcy not taken as a repo. I did this with my car. Yes, you can do that. You will have to pay a dime. It wll be listed as backruptcy, not a repo.
A person can lose everything he or she owns when creditors move in to collect what they are owed. A person might have to go through bankruptcy.
Charge-offs remain on your credit report for 7 years. If the account has been included in a bankruptcy, it should be marked as such...."included in bankruptcy". However, according to the Fair Credit Reporting Act, if you dispute the charge-off with the credit bureau and the creditor can not verify the account, it must be removed from your credit report immediately. Only the original creditor or the credit bureaus can remove a charge off, either through negotiations or through the dispute process.
Usually they cannot take your home or one automobile. See if you can get some help from a non-profit credit assistance group so you don't have to declare bankruptcy. Check with the court house or through local churches for information or an attorney. Your assets in bankruptcy is depedant on which country you reside in. Most commonly your home will be sold to meet creditor debts and you will lose control of your finances.
If you have come through a bankruptcy you have been through quite a bit. It is important to know that if your bankruptcy was dismissed, it may still be reinstated at a later date.