Answer: Whether you can hide or lock up the car to buy yourself time to pay off the loan depends on where you live. In most states this won’t violate any laws, unless you do it with the intent to defraud the bank. In some states, however, deliberately hiding a car from the repossession company is a crime.

Whether you can hide or lock up the car to buy yourself time to pay off the loan depends on where you live. In most states, taking these actions won’t violate any laws, unless you do it with the intent to defraud the bank. In some states, though, deliberately hiding a car from the repossession company is a crime.

How long can you go before your car is not repossessed?

Two or three consecutive missed payments can lead to repossession, which damages your credit score. And some lenders have adopted technology to remotely disable cars after even one missed payment. You have options to handle a missed payment, and your lender will likely work with you to find a solution.

What happens if a lien holder refuses to Repo a car?

First, the bankruptcy law allows the debtor to retain a vehicle where they pay off the lienholder the actual value of the vehicle in one lump sum. This is called redemption as briefly mentioned above. In a case where the lender is refusing to take back the vehicle they are essentially admitting that the vehicle is worthless.

What to do if a lender refuses to take your car back?

In bankruptcy lingo, that’s a “redemption”. Since the lender has not repossessed the vehicle, you may argue that they consider it worthless, and therefore they should accept $1.00 in return for the release of the lien on the car.

What should I do if I want my car repossessed?

You simply must keep trying to get the lender to pick up the vehicle. This will require numerous phone calls and a calm demeanor as you try to find the right person who can help you. Get more news, money-saving tips and expert advice by signing up for a free Bankrate newsletter.

Can a lender still repossess a car after bankruptcy?

The lender will not be able to collect any deficiency balance from you. Most people consider having the bankruptcy court deny the reaffirmation a good thing as lenders typically only repossess a vehicle if the filer stops making payments, even if the reaffirmation is not approved.