Filing for bankruptcy creates an automatic stay under which all collection actions, including repossession of an automobile, are stopped. The lender has the option, however, to apply to the court to have the stay lifted to protect its security interest. If the creditor files such a motion, you are usually given two-three weeks before a hearing. Until the hearing, and until the motion is granted, the creditor cannot repossess your vehicle.
Contact Buffalo bankruptcy attorney Thomas Denny at (716) 800-1234 for additional information and a free consultation.