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.
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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 15 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.
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