How long before the bank takes my vehicle in a Chapter 7 bankruptcy? 7 Answers as of April 27, 2011I have converted my chapter 13 to a 7 and it was discharged in August 2010. The bank has not contacted me nor picked up my vehicle. Will the bank contact me before picking up the vehicle? how long before they pick up the vehicle? Can it legally be mine if they don't pick it up after so much time has passed?
Bankruptcy Law Office of Robert Weed | Robert Weed
Sometimes they never bother. But they stay on the title. You can go back to the bankruptcy judge and have him set a (low) value on the car and pay off that value then they have to send you the title. But most likely if they have not come now they are not going to.
Answer Applies to: Virginia
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
There's no set time on when and if the bank has to pick it up. You should contact the bank to see if they have plans to repossess the vehicle.
Answer Applies to: Indiana
Gus Johnson Attorney at Law | Gus Johnson
The bank can repo the vehicle at any time. Whether they do or not is up to the bank. If the title to the car is in your name, then you own it. However, the bank retains its lien, which is noted on the title. You won't be able to get it removed and you would not be able to sell or trade it with the lien on the title.
Answer Applies to: South Dakota