Legal Question in Credit and Debt Law in Tennessee
I ive in tennessee and a couple of years ago i had to file bankruptsy. i am now paying on a vehicle i do not have. i pulled my credit report and on it , the
company has written the loan off. my question is do i have to still pay on this
vehicle?
1 Answer from Attorneys
If the payments are being made pursuant to an order from the bankruptcy proceedings, you need to consult with your bankruptcy lawyer. In this sort of scenario, if the bankruptcy court has directed you to make the payments and you fail to do so, there are serious repercussions including your being held in contempt of court for failure to comply with a court order. If however, the financial obligation was not connected in any fashion with the bankruptcy proceedings, you may still have an obligation to make the payments depending upon the terms of the installment sales contract that you executed when you purchased the vehicle as well as any other court orders. This is true even if the loan has been "written off" by the financing institution and you no longer have the vehicle. In this situation, I suggest that you consult with a lawyer in your geographical area who can more fully analyze your situation and provide more detailed advice.