Legal Question in Bankruptcy in United States

Your lawyer,who is familiar with the details of your case,will know. No one here has seen your file to guess, as the answer dependson details we don't have.

Creditors holding a lien on the title to a vehicle don't have to worry about meeting any arbitrary deadline. Bankruptcy did not affect their rights as a lienholder on a vehicle.

There is no one answer to your question. In some cases the finance company may never repossess a 10 year old car. The Bankruptcy Code doesn't establish any time limit for a secured creditor to enforce a lien on personal property. In the event you are looking for the finance company to pick up the car, call them. If you are trying to keep the car, then consult with your attorney about your options.

Joel Grafstein

10 Melrose Drive

Farmington, CT 06032

There is no deadline for them to repo a car after bankruptcy, if that is your question. Even if the borrower's personal liability is discharged, title lien survives bankruptcy and will continue cloud the title forever, until it is either paid or the car recycled. Anyone hoping to make a voluntary transfer of the car will need to pay the lender in order to clear it, so they might even just wait to see what happens with vehicles of lower value, and get paid at such time as you attempt to trade it in. There are options, however, in bankruptcy to redeem by paying the value in cash (lump sum), after having a redemption figure set up by a bankruptcy judge, but this requirs additional litigation after the bankruptcy is filing and is not included in most fee arrangements for your initial filing. Obviously, if you have a lawyer, you should talk to him first about this issu.

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