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repossessed vehicle

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1 repossessed vehicle on Fri Feb 03, 2012 11:26 pm

your honor


Arresto Menor
Hello po Atty,

Recently na repossessed po un vehicle ko due to missed payments. Pwede po ba na mabawi iyon? Does filing a bankrupcy ay maiiwave ang writ of replevin? Natakot po ako sa kasama nun taga bangko sheriff daw po sya parang may dalang baril sa shoulder bag nya ng pumunta sa amin para kunin un vehicle.
Hoping po na mabigayan nyo po ako ng peace of mind. God Bless po

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2 Re: repossessed vehicle on Sun Feb 05, 2012 11:28 am

attyLLL


moderator
you have to settle your debt to the bank to get it back. bankruptcy will extinguish all your debts, but you have to give all your property.

normally after the bank gets the vehicle, that is the end of the headache for you. note, normally, so not in all cases


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3 Re: repossessed vehicle on Sun Mar 04, 2012 10:58 pm

your honor


Arresto Menor
attyLLL wrote:you have to settle your debt to the bank to get it back. bankruptcy will extinguish all your debts, but you have to give all your property.

normally after the bank gets the vehicle, that is the end of the headache for you. note, normally, so not in all cases

Hi po Atty,

They had the vehicle already and yet there still a case filed against me. I have had talk to the bank and have been told to sign a Dacion en Pago at the nearest branch of their bank. I would like to ask if upon signing the Dacion en Pago would clear my name from any court proceedings?
I'd received a letter stating the date of the hearing and it was sent to me thru a private courier.
Your utmost reply is very much appreciated Very Happy

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4 Re: repossessed vehicle on Sun Mar 11, 2012 9:44 am

attyLLL


moderator
make sure that the dacion will extinguish your debt. if it will then that is a good way to move forward


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5 Re: repossessed vehicle Today at 7:51 am

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