If I Intend To Keep My Vehicle And Am Accordingly Willing To Continue Making Payments To The Lienholder Or Lessor, Do I Have To List The Lienholder Or Lessor As A Creditor In My Bankruptcy Schedules?
Yes. You must list all of your obligations in the bankruptcy schedules, regardless of whether the obligation is one that you wish to continue paying, and regardless of whether the obligations is dischargeable. However, provided you remain current at all times on your payments to your lender or lessor, are insuring the collateral, and you reaffirm the obligation in your bankruptcy case, the lender or lessor is not permitted to repossess the collateral. By way of reminder, once the bankruptcy petition is filed, secured creditors such as mortgage lenders and vehicle lenders and lessors will likely stop sending you monthly statements. Sending monthly statements can be interpreted as a violation of the automatic stay provisions of Section 362, and therefore creditors, even creditors holding secured liens that the debtor indicates he or she wishes to continue paying, are usually reluctant to send monthly statement. Accordingly, if you wish to keep your home, vehicle or other secured collater
Related Questions
- If I Intend To Keep My Vehicle And Am Accordingly Willing To Continue Making Payments To The Lienholder Or Lessor, Do I Have To List The Lienholder Or Lessor As A Creditor In My Bankruptcy Schedules?
- Can I continue making monthly payments on assets like a house or vehicle after I file for bankruptcy and keep them?
- If I am currently on autopay, will I be able to continue automatic payments?
