Legal Question in Bankruptcy in California
RE Affirmation
During bankruptcy a car was listed but was kept by individual. Individual did not re-affirm the car loan.
Finance company says they cannot bill, i.e. the party must continue to make payments without a bill.
If the individual decides to let the car go back to lender, what happens then.
Will they be responsible for the balance when car is resold or is it just a voluntary repossession.
Asked on 7/25/02, 1:22 pm
2 Answers from Attorneys
Mark Markus
Law Office of Mark J. Markus
Re: RE Affirmation
Nope. Under these circumstances they an return the vehicle without any further obligation (assuming they receive a discharge)
Answered on 7/25/02, 1:25 pm
Alvin Tenner
Law Office of Alvin G. Tenner
Re: RE Affirmation
The advice by Mr. Markus is the best. I cannot improve upon it
Answered on 7/25/02, 11:48 pm
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