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If I file bankruptchy what happens with my car? It is behind

 
cortrightlaw's Avatar
  • Answered by:cortrightlaw
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Customer Question

If I file bankruptchy what happens with my car? It is behind right now in payments (but not repo'd) do we give it back the day we file? Or what?

 

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State/Country relating to question: Utah

Submitted: 303 days and 5 hours ago.
Category: Bankruptcy Law
Value: $25
Status: CLOSED

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Expert:  cortrightlaw replied 303 days and 5 hours ago.


cortrightlaw : If you file a chapter 7 bankruptcy an automatic stay will go in place, so you will not have to give it back the day you file. If you can no longer afford the card you will probably have 2-3 months to turn it in. Or if you want to keep it you would just need to be able to become current on the payments.
Customer :

How would I know when I need to turn it in?

Customer :

I am trying to figure out how much time I would have to try to buy another car or something so my husband can get to work

cortrightlaw : You would have anywhere from two to six months depending on how aggressive your lender is.

Expert TypeAttorney
Category: Bankruptcy Law
Pos. Feedback: 98.9 %
Accepts: 458
Answered: 6/20/2012

Experience: Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.

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