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  1. #1
    Join Date
    Apr 2012
    Posts
    5

    Default How to Sell Car Once It is Paid Off from Bankruptcy

    My question involves bankruptcy in the state of kansas I filed a chapter 13 two years ago for myself only my husband is not included. I had a business that failed. I have a 5 yr bankruptcy term. We had two vehicles which my name is on that got included. They are being paid off first by the courts. Based on the schedule they will be paid off at the 3 yr mark. We want to sell the cars and pay off the bankruptcy. Once the cars are paid off does the bank release the titles? Is this a good idea or bad?

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

    Default Re: How to Sell Car Once It is Paid Off from Bankruptcy

    Once the loans are paid off the bank should release the liens.

    Assuming that this is not a 100% repayment plan, which you can pay off at any time, paying off the balance of the plan after three years will generally not cause the trustee to re-evaluate your circumstances and ability to repay, but I can't promise what will happen in any given case.

    (If the plan involves 100% repayment, you can pay it off at any time.)

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