Results 1 to 2 of 2
  1. #1

    Default Discharged Auto Loan or Loan Release After Chapter 7 Bankruptcy

    State of Ohio, Chapter 7 bankruptcy, auto loan charged off, $ amount was written off. There was never any discussion of repo during any proceeding and I've never been contacted by the finance co. I have decided to give the car to my daughter and require the title. When contacted, the finance co. says the car was never paid for and it seems that the title belongs to them but the car belongs to me. My bankruptcy was 5 years ago, how can get a loan release to get the title?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Discharged Auto Loan or Loan Release After Chapter 7 Bankruptcy

    If you want to get the loan released, you have to negotiate with the lien holder.

    In Chapter 7 your choices are to reaffirm your loan (such that the loan is taken outside of the bankruptcy and you keep making payments), redeem the vehicle for fair market value (paying off the loan, perhaps with a reduced balance), or to surrender the vehicle. You apparently chose surrender, but the lender didn't repossess. That does not mean that the car is yours for free - it remains subject to the lien.

    1. Sponsored Links
       

Similar Threads

  1. Student Loans: Collection of a Student Loan That Was Discharged in Bankruptcy
    By cfm001 in forum Debts and Collections
    Replies: 5
    Last Post: 03-25-2011, 03:04 PM
  2. Chapter 7: Auto Loan After Chapter 7 Bankruptcy
    By ygreene84 in forum Bankruptcy Law
    Replies: 1
    Last Post: 11-30-2010, 08:56 AM
  3. Chapter 7: Paying on a Discharged Student Loan After Successful Chapter 7
    By Stevo in forum Bankruptcy Law
    Replies: 1
    Last Post: 05-26-2010, 08:23 AM
  4. Chapter 7: Private Student Loan Discharged in Bankruptcy - Now Being Sued
    By wkendwench in forum Bankruptcy Law
    Replies: 1
    Last Post: 07-06-2008, 11:01 PM
  5. Repossession: Auto Loan Discharge In Chapter 7
    By dicocheaperez in forum Cars and Dealerships
    Replies: 1
    Last Post: 08-17-2006, 11:35 AM
 
 
Sponsored Links

Legal Help, Information and Resources