Comments on: What happens if a finance company never repossesses a vehicle that has been discharged in bankruptcy? http://financequestionsblog.com/what-happens-if-a-finance-company-never-repossesses-a-vehicle-that-has-been-discharged-in-bankruptcy.html Mon, 14 Dec 2009 15:40:02 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: SPIFIMAN1 http://financequestionsblog.com/what-happens-if-a-finance-company-never-repossesses-a-vehicle-that-has-been-discharged-in-bankruptcy.html/comment-page-1#comment-17 SPIFIMAN1 Fri, 11 Sep 2009 03:56:08 +0000 http://financequestionsblog.com/?p=20#comment-17 Auto finance is what I do for a living and this is very strange. I would have to say since they have made no effort to take the car they must think that it's not worth the time and money to take it back. This leaves you hanging though, without a lien release you can never have a free and clear title so while you can tag and drive the vehicle you can not sell it. I would call them if I were you and see if you can work something out. Good luck. Auto finance is what I do for a living and this is very strange.

I would have to say since they have made no effort to take the car they must think that it’s not worth the time and money to take it back.

This leaves you hanging though, without a lien release you can never have a free and clear title so while you can tag and drive the vehicle you can not sell it.

I would call them if I were you and see if you can work something out.

Good luck.

]]> By: B-Jo http://financequestionsblog.com/what-happens-if-a-finance-company-never-repossesses-a-vehicle-that-has-been-discharged-in-bankruptcy.html/comment-page-1#comment-16 B-Jo Tue, 08 Sep 2009 10:05:39 +0000 http://financequestionsblog.com/?p=20#comment-16 There are different type of bankruptcies. Some bankruptcies give your the option to surrender the articles disclosed in the bankruptcy. Other options are for you to include all articles in the bankruptcy but you keep possession of the merchandise, or You may still have possession of the articles but before the date given on the bankruptcy clause, the companies in which you still have the articles will come and declare them at that given time. This information should me explained in the forms you signed off on. Read back over everything and you will be able to get a better understanding of what's expected of you and what you can expect in this bankruptcy. Hope this helps. There are different type of bankruptcies. Some bankruptcies give your the option to surrender the articles disclosed in the bankruptcy. Other options are for you to include all articles in the bankruptcy but you keep possession of the merchandise, or You may still have possession of the articles but before the date given on the bankruptcy clause, the companies in which you still have the articles will come and declare them at that given time.

This information should me explained in the forms you signed off on. Read back over everything and you will be able to get a better understanding of what’s expected of you and what you can expect in this bankruptcy.

Hope this helps.

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