ExpertLaw.com Forums

How Long Does Repossession Take in Bankruptcy

Printable View

  • 01-23-2017, 04:55 PM
    lawfacts
    How Long Does Repossession Take in Bankruptcy
    A bankrupt person has a car that they kept through their Chapter 13 bankruptcy, but the car is in poor condition. They want to convert the bankruptcy to a Chapter 7 case, decline to reaffirm the car loan, let the lender repossess the car, then buy a different car. How long will it take after conversion for the lender to repossess the car?
  • 01-23-2017, 05:57 PM
    Mr. Knowitall
    Re: How Long Does Repossession Take in Bankruptcy
    Some lenders will swoop in to repossess a car, while others will decide that the car isn't worth the cost and effort of repossession and will simply leave it in the debtor's possession. There is no way to state what the bankrupt person's lender will do in relation to their car, as it will depend upon the lender's policies and the value of the car.
All times are GMT -7. The time now is 03:24 PM.
Powered by vBulletin® Version 4.2.4
Copyright © 2023 vBulletin Solutions, Inc. All rights reserved.
Copyright © 2004 - 2018 ExpertLaw.com, All Rights Reserved