Answers appreciated
We are considering Ch. 7.
My questions are:
Since I am way behind in my auto payment, I can understand why the financier would want payment or a "turn-in" of the auto (with money to cover the lowered resale value of the car and such).
However, I have received mail (from the finance institution) notifying me that if said amount (payoff balance) was not provided on said date - then the case or account would be turned over to a collection agency.
> If this happens - as it most likely will - can this then be added to my "list" of monies owed (and to whom)?
> With me in possession of the vehicle, could it be repossessed after Ch. 7 assuming that (my) this case was in fact turned over to a collection agency?
> Along that line, (assuming that after Ch. 7 - no entity could attempt to collect monies or repossess this car) would there be any "obstacles" to "normal" ownership of this car (such as vehicle registration, and the issue of the title) ?
Thanks to any of you whom can clear up my confusion and uncertainty.
My questions are:
Since I am way behind in my auto payment, I can understand why the financier would want payment or a "turn-in" of the auto (with money to cover the lowered resale value of the car and such).
However, I have received mail (from the finance institution) notifying me that if said amount (payoff balance) was not provided on said date - then the case or account would be turned over to a collection agency.
> If this happens - as it most likely will - can this then be added to my "list" of monies owed (and to whom)?
> With me in possession of the vehicle, could it be repossessed after Ch. 7 assuming that (my) this case was in fact turned over to a collection agency?
> Along that line, (assuming that after Ch. 7 - no entity could attempt to collect monies or repossess this car) would there be any "obstacles" to "normal" ownership of this car (such as vehicle registration, and the issue of the title) ?
Thanks to any of you whom can clear up my confusion and uncertainty.