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  1. #1
    Join Date
    Jul 2008
    Location
    Michigan
    Posts
    39

    Default Repossession and Bankruptcy

    My question involves an auto loan or repossession in the State of: MI

    I am surrendering my vehicle in a chapter 7 bankruptcy. I was wondering, after my bankruptcy is discharged, and the bank comes and gets my vehicle, can I offer to "buy" the vehicle back??

    Btw, Im not going to mention any names, but the bank rhymes with irrationaly shi**y. Ive voluntarily surrendered the vehicle to them and they refuse to come get it citing that they need a bk case number first. I wont be filing until 12-?-08, but have already retained a lawyer in august.

    Im 50/50 on keeping the vehicle. Ive spent a lot of $$ in upkeep and repairs. But the current payment is too much. Right now there is 27/72 months left on the bank note.

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: Repossession and Bankruptcy

    I was wondering, after my bankruptcy is discharged, and the bank comes and gets my vehicle, can I offer to "buy" the vehicle back??
    Have you asked your attorney if this is feasible? What did he say?

  3. #3
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Repossession and Bankruptcy

    It makes sense, as you have a lawyer, to ask your lawyer first. But the only company that can tell you if they'll let you buy the car (or for how much) is your lender.

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