Bankruptcy And Car Repossession
Summary
Filing for bankruptcy usually triggers an automatic stay, temporarily halting car repossession. However, if car payments are missed, lenders can petition the court to lift the stay and proceed with repossession. Its advisable to consult with your bankruptcy attorney to discuss your specific situation and explore potential solutions.Full Conversation
I filed bankruptcy yesterday, need to pay my car payments from Nov and December. Can they repossess them ?
Renee, generally when you file for bankruptcy, an automatic stay goes into effect, which temporarily prevents creditors from repossessing your car. However, if you fail to make your car payments, the lender can request the court to lift the stay and repossess the vehicle.
Have you contacted your bankruptcy attorney about this issue?