I filed for Chapter 7, I owe on a car. If I filed for redemption and the loan co doesn't reply, do I keep it? - car redemption calculator
I had my own Chapter 7 bankruptcy, but I'm a little confused. I'm in California and my list of cars I in 2750 as one of my items exempted goods. The car has a bad transmission and sit in my garden. I put a letter of intent to purchase. If the lien holder does not answer or the answer to this question, I can my car?
Sunday, February 21, 2010
Car Redemption Calculator I Filed For Chapter 7, I Owe On A Car. If I Filed For Redemption And The Loan Co Doesn't Reply, Do I Keep It?
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You can keep the car, the lender retains its lien rights under the contract of sale for motor vehicles. In its letter of intent, as you said it would buy the warranty? If so, the redemption, buy back the vehicle or pay for. If you "confirm" the debt, which means that the debt reaffirm plan on the same terms and conditions as his contract is low, it is necessary to present an amended statement of intent. Regardless of the person, the lender still holds the rights to the embargo.
ReplyDeleteYes, you continue to pay as agreed.
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