Legal Question in Bankruptcy in Ohio

Chaper 7 banruptcy Vehicle used as Collateral for Loan

I used a 1999 Taurus as collateral for a loan. My bankruptcy was discharged 9/16/08. I called the loan company to see when they were going to come get the car. They said that they would not. The local loan company where I took out the loan say they are out of the loop and the out of state co. wher I sent the payments say they won't get it but I have nothing in writing. I got the title from the BVM but I don't know if I can legally sell the car or not. Can I? Please don't tell me to ask the attorney who did my bankruptcy as he will no longer answer my questions. He took $1300 fast enough for the banktuptcy but thinks I called him with too many questions. Who else would I have called for bankruptcy questions?


Asked on 2/19/09, 6:06 pm

1 Answer from Attorneys
Frank Rozanc Frank J. Rozanc, Esq.

Re: Chaper 7 banruptcy Vehicle used as Collateral for Loan

Whether or not the lender will repo the car depends on whether it is worth it to them to do so. If the discharged debt is worth substantially more than the collateral, they'll probably let you keep it, as it would cost more than it would be worth to auction the car.

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Answered on 2/23/09, 12:35 am


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