Posted on
June 4, 2009
at
2:33 am
Is it any different from foreclosure?
Posted on
June 4, 2009
at
2:43 am
When a person files for bankruptcy, all creditors will automatically be stopped from attempts at collecting the debts that the individual owes. This is called the "automatic stay." Included in the automatic stay are vehicle repossessions. Also take note that most repos don't happen until a person is at least two months behind on their car payments, though I might be wrong on this... But filing a chapter 7 or chapter 13 bankruptcy can and will stop lenders from repossessing your car.
Posted on
June 4, 2009
at
2:46 am
I think not. Foreclosure and repossession if talking about a real estate property, like your house, mean the same thing. Mostly though "repo" is a term used for vehicles.And filing bankruptcy can stop repossession instantly.
Posted on
June 4, 2009
at
2:49 am
Which chapter do you think is best?
Posted on
June 4, 2009
at
2:51 am
Are we talking about your vehicle or your home?
Posted on
August 20, 2009
at
2:31 am
Can bankruptcy stop repossession? Well, yes--as it was mentioned by cheetos lover earlier, both chapters of bankruptcy will be able to stop repossession proceedings from occurring.
