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Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
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Old 05-05-2003, 09:58 AM
ksfamily
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chapter 13 question


What is the name of your state? Kansas

If we decide to do a Chapter 13 and decide to keep the house and car which we have a loan on, does the bank have the right to take the car while this is going on or until it is all settled? Right now I am in the 7th day of the 10 day grace period of paying a payment due, I will not have the money to start proceedings with my attorney until May 16 do they have the right to take the car until the bankruptcy proceeding is final?
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Old 05-05-2003, 10:31 AM
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Join Date: Feb 2003
Location: TX
Posts: 338
If you haven't been served with reposession notice yet, you'll be OK. The automatic stay in Bk will stop reposession in its tracks. It's still to your advantage not to let creditors know your intentions until after you file. Most Ch 13 attorneys will file your petition with only enough money to pay court costs, then make provisions for being payed their fees through the Trustee.
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