"How Much Are Repossession Fees" Discussion
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763 Members Online · 5,543+ PostsProfessional Q&As for "How Much Are Repossession Fees"
Upsolve Community Member
2021-12-02
One other question...I have a debt from when I had my towing business a couple of years ago that I have resulted in the repossession of our tow truck...I did not see in the questionaire where to list business vehicles? I still have to dig out the debt holders stuff from storage and add it to my list of creditors...it's a biggie that I can't leave off!
Upsolve Community Member
2021-12-16
I would like to file chapter 13. I have a van that will be repoed within the next few days. I own my place and a mobile home on a private lot in a trust. It's not worth much but how can I keep it?
Community Replies:
Upsolve Community Member
Hi Jackie! This article describes some of the options you can use to keep your home in a Chapter 13 bankruptcy: https://upsolve.org/learn/can-bankruptcy-take-your-house/ but ultimately it will depend on your state and personal circumstances.
Upsolve Community Member
I just saw this article and I think it has some information you'd be interested in reading about repossession and bankruptcy: https://upsolve.org/learn/should-i-file-bankruptcy-after-repo/
Upsolve Community Member
2021-11-10
I just filed bankruptcy and listed an auto loan, the car has been broke down and in the shop every since I bought it, I never did get the vehicle transferred in my name. Now the shop guy is holding my car until I pay him $1800. My questions are: do I need to put the car in my name to list the auto loan on the bankruptcy? How do I go about returning the vehicle to the loan company when I don't have physical possession of it?
Community Replies:
Upsolve Community Member
Nina, thanks so much for asking! Our article on surrendering your vehicle could be a helpful first place to start! https://upsolve.org/learn/surrender-car-bankruptcy/
Upsolve Community Member
I have already read this article and it did not help with my question. I do not have possession of the vehicle to surrender it to the loan company and I am not going to pay the mechanic $1800 for a vehicle I will not be able to drive anyway. Would I just tell the loan company where the mechanic's shop is at? Even if he is hiding my car somewhere else?
Upsolve Community Member
2022-01-20
I’m not sure if I’m allowed to ask this question here, but I want to remove my name from A car loan I helped my friend get. He makes all of the payments and has sole possession of the vehicle. Is there a way for me to walk away from this debt without saying I want to completely surrender the vehicle? Since the payments are being made I don’t think I should use the word surrender. Any advice would be greatly appreciated.
Community Replies:
Upsolve Community Member
Lillian, thanks for asking! There may be a few options here- the first thing to do would be to read this article- it explains a bit more about being a co-signer on a vehicle https://upsolve.org/learn/what-happens-to-the-co-signer-of-a-car-in-bankruptcy/
Upsolve Community Member
Thank you so much! I have a better understanding of how it works now.
Upsolve Community Member
2022-01-25
I filed my paperwork today at the court house. I had worked my anxiety through the roof. I was so nervous doing this myself. The clerk was soo nice and helpful. He made sure I had everything in order. I had WAY more paperwork than I needed.. but that’s ok. lol... I could not have done this without Upsolve and the team helping me along the way. Ready to take my next class and prepare for my 341 meeting. Thank you Upsolve!!
Community Replies:
Upsolve Community Member
Congratulations!!!
Upsolve Community Member
Ditto! Congrats Faith! I was nervous too! Human nature. Thanks to Upsolve's Learning Center, I was able to file and am enjoying my FRESH START! I can see the light at the end of your tunnel too! :-)
Upsolve Community Member
Faith, that's wonderful! I'm so happy for you! Everything else will seem easy after filing all that paperwork! Congratulations and thank you for sharing your experience!
Upsolve Community Member
Definately use the clerks as the office, they are so much help.
Upsolve Community Member
congrats ! 👏
Upsolve Community Member
Congrats 🎈
Community Replies:
Upsolve Community Member
Were you a sole proprietor? Here's an article that might be helpful: https://upsolve.org/learn/differences-sole-proprietor-and-llc-in-personal-bankruptcy/ You might also find this article on small business and bankruptcy helpful: https://upsolve.org/learn/business-bankruptcy-chapter-13/
Upsolve Community Member
I had an EIN and formed an LLC for that business, which is closed down now...
Upsolve Community Member
but all the debt I incurred for this business was personal and not in the business name...
Upsolve Community Member
I had gotten start up loans and the truck loan in my name...
Upsolve Community Member
Jack's article is a great place to look- what to list for your business would generally depend on the type of business. You might also find it helpful to consider repossession here! https://upsolve.org/learn/car-repossession-101/
Upsolve Community Member
I'm not familiar with the questionnaire but I do know you can't get debt discharged unless it's listed. So if the truck is in your name and the bankruptcy is filed in your name it's a good idea to list it. That first link I posted had some LLC info. If you want to keep your truck, this article might help you learn more about the vehicles and the bankruptcy process: https://upsolve.org/learn/can-keep-car-file-bankruptcy/
Upsolve Community Member
Thanks so much for your help Kimberly & Jacqueline!!