Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*
Welcome to JustAnswer,So sorry to hear of this dilemma. If my answer is not clear to you, please ask me for clarification by using the reply button.
When the trustee abandons property, it is typically good news for the debtor. This means that the trustee is not claiming any interest in the property for the benefit of the estate. You may keep the vehicle provided your payments are kept up to date
Please use the REPLY button if you have any questions concerning my answer. Otherwise please click ACCEPT so that I am paid by the site for answering.
so payments must continue to be made?
yes you must continue to make the payments. If you do not make the payments the vehicle can be repossessed but a personal judgment may not be entered against you
am i in a good position to re-negotiate the interest amount with the loan company?
You can certainly try
I hope that it helps to know this informationThank you in advance for remembering to click accept. If you experience difficulty using the accept button, please let me know as JustAnswer pays me for my time only if the "accept" registers.