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Old 02-17-2001, 08:19 PM
Duane
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My car was repossesed this morning and all payments were made and the last one was cashed by the finance company just yesterday.I was following the truck that was toeing my car and was pulled over by the police in Milford DE. and told that if I continued to follow the toe truck that I would be charged with harassment and they said the reason the car was ordered to be reposessed was that the finance company learned that I might be filing bankrupt but in fact my bankruptcy was finalized on Dec.18,2000.Is it legal to take my automobile without notice and being that I wasent eaven behind on payments?
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Old 02-17-2001, 09:40 PM
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When you filed for bankruptcy, did you know you can not have car payments and car loans cannot be reaffirmed? Read your loan agreement, somewhere in the small writing it states that you must maintain a satisfactory credit rating for the life of the loan. And the vehicle is probably worth more than what your state allows for as an asset when you file for bankruptcy. In almost all states, your vehicle's value cannot exceed $1000 to $2000 and must be paid for. What the lender feared was the bankruptcy trustee discovering you had a vehicle worth more than what your state allows and having the trustee take the vehicle. The bank would then lose what you owed. Sucks, don't it?
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