I'm wondering if a car can be repossessed during bankruptcy? I'm current, but I'm wondering if I should stop making payments? I'm in New York. It's a 2005 Chevy Equinox. Balance is around $11,000, but it's worth about $9,000. Monthly payment is $370. Thanks.
-
Filed August 20
341 on September 23 Report of No Distribution - September 24 Case Discharged and Closed on November 23!!! -
While you are in the bankruptcy, the automatic stay at 11 usc 362 prohibits a creditor from repossessing your property. But if you fail to make the ongoing payments, the creditor can get the court to lift the automatic stay as to the collateral and then repossess it.Pay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer. -
Thank you. I think I'll keep paying. I need something to get around. I live in the boondocks. No public transportation.Filed August 20 341 on September 23 Report of No Distribution - September 24 Case Discharged and Closed on November 23!!!Comment
Comment