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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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My auto loan company sold my auto loan just as I filed Ch.

Resolved Question:

My auto loan company sold my auto loan just as I filed Ch. 7 bankruptcy. I reaffirmed the debt with the old company but I've not received a statement from the new company and my old company has deleted my online account. My question is I don't have the money to pay my car payment this month because of the lawyers fee to file, can they repossess my car if I don't make the payment this month? What is the best course of action in this situation?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 7 years ago.
they cannot repossess since the bankruptcy stops any action, only after they get permission from the court can they actually repossess the car, once you file their is an automatic stay on all legal actions against you.
Customer: replied 7 years ago.
So if I don't make this month's payment what happens?
Expert:  WALLSTREETESQ replied 7 years ago.
nothing, they may file a motion to the trustee to allow them to reposes or they will wait till the case is discharged.
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