Legal Question in Bankruptcy in Indiana

Repocession of vehicle/credit cards

I filed B.R in 1994 and my question is I have a van that just got repocessed and we only owe like 8 payments on it can I file bank ruptcy on it now that it has been repo'd?

Also my wifes grandpa and mother gave us their credit cards to help us get some things we needed for the house and a vacation can we file on them since they are in their names?

Thanks


Asked on 1/21/03, 2:52 pm

1 Answer from Attorneys
C. David DuMond Law Offices of David DuMond

Re: Repocession of vehicle/credit cards

If you are willing to pay the price and do what is required, then you can retrieve your van. You should arrange to consult with an attorney to discuss the matter in detail. You must list all your creditors in a bankruptcy, including relatives. But you can agree to repay them, whether or not the debt is discharged. As for the van, a bankruptcy filing will stop the company from selling it. If you file a Chapter 13, which is more expensive both for attorney fees, you can put the back payments and collection costs into your payment plan, and just keep current on the remaining payments. Other options, like a 'cram down" may apply, but you need to see a lawyer about it. Be mindful of the old saying, "He who hesitates is lost." You need to get something filed before your van is sold.

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Answered on 1/21/03, 3:12 pm


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