"Auto Loan Charge Off" Discussion
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763 Members Online · 5,543+ PostsProfessional Q&As for "Auto Loan Charge Off"
Upsolve Community Member
2021-11-12
If there are two buyers and NOT a buyer and cosigner....on an auto loan does the payoff quote by law required to list both borrowers names.?
Upsolve Community Member
2021-11-07
USAA - Cross-Collateralization with Auto Loan and Credit Card?
Community Replies:
Upsolve Community Member
OOPS - sorry I did not get my complete question posted. Has anyone had an experience with USAA in which they filed BK on a credit Card with USAA and had their auto loan there as well? I'm wondering if they will let me reaffirm my auto loan, or if they will add the credit card amount to the loan? Anyone dealt with this? Thanks in advance!
Upsolve Community Member
Thanks for asking! Curious to hear what experiences you've all had
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
2021-12-13
So if I'm on a car loan with my co signer what will happen will I get them in some problems
Community Replies:
Upsolve Community Member
It will depend on how you manage your auto loan in bankruptcy. This Upsolve article explains the options and how each option affects the cosigner: https://upsolve.org/learn/what-happens-to-the-co-signer-of-a-car-in-bankruptcy/
Upsolve Community Member
Jacqueline's article is really helpful! How bankruptcy affects your co-signer depends on what you decide to do with your car and car loan. The co-signer is viewed as the “backup plan” for repayment of the loan.
Upsolve Community Member
Thanks for asking!
Upsolve Community Member
2022-01-08
Hi I recently took out an auto loan? How will filing bankruptcy affect this? Do I have to file chapter 13? I am current on my payments and do not want to lose my car.
Community Replies:
Upsolve Community Member
It will depend on a lot of different circumstances, but I recommend reading https://upsolve.org/learn/chapter-7-versus-chapter-13-bankruptcy/ for starters. After that, I think the article https://upsolve.org/learn/can-keep-car-file-bankruptcy/ can help answer a few questions.
Upsolve Community Member
Please let us know if you have any other questions!
Community Replies:
Upsolve Community Member
Great question! This could help! https://upsolve.org/learn/percentage-vehicle-do-own/
Upsolve Community Member
Did this help answer your question, Teresa? Let us know if you still need a bit of guidance!
Upsolve Community Member
The vehicle is in my possession...i want to sell it and thete will be money left over....do i need the other owner's signature on the check or the title to sell the vehicle.?