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Until the case is over, you shouldn't do anything with the car without permission from the court. If you owe money on the vehicle, you have a duty to maintain insurance and make the car payments. If the trustee abandons the car back to you, you can do whatever you want with the vehicle subject to any rights the lender might have.

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โˆ™ 2005-10-09 20:36:10
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Q: Can a car that is included in a bankruptcy be sold to a junkyard for parts?
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Related questions

How long can you stay in house that has been included in bankruptcy?

Until its sold and you are evicted.


Riding on parts not included the price?

This question is unanswerable without more context. What thing is being sold? What parts are the "riding on" parts?


What can be included in a bankruptcy?

This depends on what type of bankruptcy you are filing for. Chapter 7 bankruptcy is basically liquidation - all of the debtor's assets (besides those which are exempt) are sold to pay off his or her debts so you need to include everything. That being said, not everything will necessarily be discharged (i.e. child support and educational debt etc will remain with you after bankruptcy is completed).


What do junkyards do with the parts after scrapping the item?

Junkyards are in the business of converting and processing what items that are broken down in their lot. The parts that they break down and scrap are recycled. They are recycled depending on their value, worth, and usefulness. The parts are sold to cover the expenses of hauling, recycling, and salvaging the discarded and thrown away items that come to the junkyard everyday.


Should original creditor and the new creditor the account was sold to be included in bankruptcy?

Both and anyone else you can think about in the middle, because it removes any claims down the road for not providing proper notice.


JUNKYARD IN ALABAMA?

Our services are transparent as you can check on our website the location of the vehicle from which the parts are being sold. We strive hard in making all your experiences smooth and secure with us. Looking for an old car or parts, junkyards in Alabama could be a parts goldmine for you. Our junkyards in Alabama have a huge collection of all parts, you name it you get it ranging from used auto body parts including engine parts, transmissions, and brake parts for both foreign and domestic automobiles.


How will bankruptcy affect the sale of real estate property?

No property can be sold, transferred, refinanced, etc. while in bankruptcy without the permission of the bankruptcy court.


If you sold your home and did not sell for enough to pay the first and second mortgage what happens to the second mortgage lien?

Was the 2nd lien included in and discharged in your bankruptcy? If not, then that lien still encumbers the title to the property and is probably a debt you still owe.


Can a collector who bought your account from the creditor be awarded a lawsuit judgment if the debt was included in your bankruptcy?

There is something amiss here, a debt that is discharged in bankruptcy is no longer collectible. Therefore a lawsuit could not be filed and won nor a judgment awarded to the plaintiff pertaining to such a debt. The involved party should contact the attorney that handled the bankruptcy and have the judgment voided if it is indeed invalid. It would be advisable to acertain if the debt was discharged rather than excluded from the bankruptcy or perhaps sold previous to the filing of the petition.


If a vehicle was voluntarily surrendered and sold can collection on the difference be stopped with bankruptcy?

With new bankruptcy laws that is no longer possible. If the person files for bankruptcy and includes the vehicle they will have to pay the entire amount of the loan.


If a bankruptcy was discharged on an account that was sold to another lender and the original creditor is marking it as a charge off should it be marked as bankruptcy by the original creditor?

Yes, this debt should have been marked as a bankruptcy by the original creditor. It cannot be changed from a bankruptcy to a discharge unless the bankruptcy did not go through.


What happens if my car is repossessed and then I file bankruptcy?

Any leftover debt from that car repossession can be put in your bankruptcy petition..so if you owed $12k and the bank sold it for $6k..then you can file bankruptcy on the remaining $6k.


Can the person who holds the property sold in a bankruptcy auction charge boarding and not release livestock sold?

It will depend on how the bankruptcy auction paperwork was filled out as to whether or not a person that holds the property can charge boarding and not release the livestock that was sold. Contact a local lawyer that knows your states and local laws regarding this issue.


Can I file for Bankruptcy after a short sale of your home?

What does selling my home have to do with your filing bankruptcy? If it was your home you sold short, assuming an arm's-length sale to a 3d party with no fraud or deception, you should not have a problem with filing bankruptcy.


Can a company buy back its assets after bankruptcy?

Sold is sold...so if the new owner wants to sell, sure..ut there is no right to.


What can you do if you just recently had a chapter 7 bankruptcy then soon after had your car repossessed?

Usually a car you are still driving cannot be included in a chapter 7 unless it is turned back into the finance company because it is considered an asset that, if sold, could help pay off your other debts. If you do not include it in the bankruptcy, you are under the same obligation to make payments and if you don't then the car gets repo'd. If you file for bankruptcy the first thing I would do is talk to your lawyer about the options open to you if you want to keep your car.


Can you sell your house while in bankruptcy?

You cannot sell your property during a bankruptcy proceeding. If a bona-fide offer is made to purchase the property a motion is filed for permission to sell. If allowed, an order is issued by the court that frees the property from the bankruptcy so it may be sold free and clear of your bankruptcy by the trustee. The proceeds from the sale will then be controlled by the trustee in bankruptcy.


Which is a description of a bankruptcy?

Bankruptcy is a type of a last resort solution to out of control debt. There are a number of different types of bankruptcies which vary greatly. The law article below describes the different types of bankruptcy. The most common type is Chapter 7 bankruptcy which is a form of liquidation bankruptcy, in which non-exempt property is liquidated and sold to pay off your creditors


How Much Can You get selling brass at the junkyard?

Brass is sold by the pound as of Friday the 5th the price of Brass was $2 for Red brass and $2.15 for yellow brass.


Whats the difference between Chapter 7 and Chapter 11 bankruptcy?

Chapter 7 bankruptcy is a final liquidation of the company. Assets are sold off to pay debt. Chapter 11 bankruptcy is a rehabilitation bankruptcy. The company (or individual) is given a chance to retain their assets and get their financial status back on firm footing.


Can you sell property before filing bankruptcy?

If the property is sold for fair market value, yes.


Can you sell property before you file bankruptcy?

Yes but the trustee can seek to include the money received in your estate. If you have sold it to family or friends to avoid losing it in bankruptcy, the trustee can have the sale reversed.


If you have a car repossession can it be settled if in several months you go into bankruptcy?

If by settled, you mean get your car back, no, unless the bankruptcy was filed before the car was sold at auction (unlikely to be several months).


Can you sell personal property when filing bankruptcy?

When filing bankruptcy all assets are placed in a bankruptcy estate. Some assets are allowed to be protected and qualify for an exemption by the trustee. Items that are placed in exemption are permitted to be sold, but the trustee should be notified prior to the sale.


Can you sell your property in bankruptcy and what happens to the funds of the sale?

Yes you can sale your home but the bankruptcy court will take the proceeds from the sale and disburse them to your creditors that you owe. No, everything except your selected exempt property belongs to the bankruptcy estate, as of the moment you file, and it can only be sold by the bankruptcy trustee, with permission of the court, to satisfy your debts in an orderly fashion.