Legal Question in Bankruptcy in New York
voluntary payments/bankruptcy
What does it mean when GMAC says I Can make voluntary payments? are they applied to my account?
Asked on 2/05/08, 4:25 pm
1 Answer from Attorneys
Nancy Delain
Delain Law Office, PLLC
Re: voluntary payments/bankruptcy
If a creditor allows a debtor to make voluntary payments after the debtor files a bankruptcy petition, that creditor is stating that, as long as payments remain current according to the original loan agreement, the creditor will not repossess the collateral securing the loan.
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Answered on 2/05/08, 5:00 pm
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