If my husband files bankruptcy, and our vehicle that we are purchasing, gets reposseced, can the finance co. make us sell our home to pay the balance.
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my husband files bankruptcy, and our vehicle that we are purchasing, gets reposseced, can the finance co. make us sell our home to pay the balance.
Asked on June 17, 2009 under Bankruptcy Law, Oklahoma
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
No, pursuant to your bankruptcy being successfully completed, all of your debts will be discharged. You won't owe anything to the finance company.
Even if you didn't file for bankruptcy, they couldn't force you to sell your home. They could get a judgement and file it as a lien against your home but they would only get paid when your home was sold; no matter how long you lived there. However, interest would accrue during this time.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.