Category Archives: South Carolina Installment Loans

Can the Lender Repossess My Automobile During Chapter 7 Bankruptcy?

Can the Lender Repossess My Automobile During Chapter 7 Bankruptcy?

When your car finance loan provider gets court authorization, it may repossess your car or truck during Chapter 7 bankruptcy. However you have actually choices to avoid this.

Updated By Cara O’Neill, Attorney

If you should be in Chapter 7 bankruptcy, your car or truck loan lender cannot repossess your vehicle or otherwise attempt to collect its financial obligation without first getting authorization from the court. Keep reading for more information on whether or not the loan provider can repossess your car or truck during Chapter 7 bankruptcy and approaches to avoid repossession.

The Automated Keep Prohibits Automobile Repossession Without Court Authorization

Filing a Chapter 7 bankruptcy produces an purchase called the stay that is automatic. Continue reading