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my sister is filing for bankruptsy, and from what we have read about it, you sell your assets to cover your debts..but what if you have no assets? she and her husband have one car that they bought at an auto auction, and the house they live in is owned by my uncle. they don’t own the furniture or any of it, no land or anything. they have no savings and her checking account is 146.16 over drawn right now. what happens if you have no assets to sell?

Odd question, but I’m just not sure how to proceed.
I’ve been getting phone calls from a Toyota dealership in my town (7 calls today alone) who claims that I wrote a bad check for about 0 in repairs on my Toyota. This would be okay, and not really a reason to ask the yahoo answers people, but…
1-I’ve never taken my car to this dealership for repair.
2-I don’t even OWN a Toyota. Nor does anyone in my household, I don’t drive, borrow, rent, or otherwise have possession of a toyota.

After finally talking to someone who didn’t seem hellbent on strong arming 0 from me, I found that the checking account the check was written on is an old account of mine that has been closed for quite some time. I didn’t realize I even still had checks from the account but it’s from my old account, complete with the old address that i’ve not even lived at for about 3 years, which is also an out of state bank, so I can’t exactly just run over to a branch and get some help.

I now live in NC. The address given to the dealership is not my current address, but is an address that i’ve lived at recently in NC. The check address is from an address in Ohio, and my bank is based in Texas. The dealership is telling me that it’s my information, so therefore I am responsible, and that if they’re not reimbursed that they will have a mechanics lien and repossess my car.
i don’t think they can do that, can they? And if so, wouldn’t they have to get the lien on this Toyota, not the car that I DO actually own? They told me that I need to file all kinds of police reports in NC as well as in ohio, too. In my opinion, if they took an out of state check without even verifying anything, that’s not my problem. Anyone have any suggestions on what to do here?

I had a home equity line of credit (refinanced 2nd mortgage into it) on a home that is way upside down. About 3 yrs after I did the HELOC, I purchased a car and financed through same credit union as my heloc. No funds from the heloc were used for the purchase of the car. My home got foreclosed on so I stopped payimg on the heloc also. I have been current on my payments for the car and have never been late and a repo guy showed up at my house with a repo order from my credit union saying it was collateral… it was not collateral and the only thing it has in common is it was through the same credit union as the heloc and it all comes out of my checking account with them. Is this even legal since I have fulfilled all the requirements as per the loan docs state for the auto? What do I do now?

I was never given any information about what was to be done with the car (auction, private sale, etc). Now a couple of months later, I have a collection agency (AIC) calling me. I haven’t answered yet because I really don’t have the time to talk when they do call so I don’t know if it’s post auction or pre auction.
If it’s pre auction, I’m guessing they are just trying to collect the total amount -
Oh, and on a side note, never deal with HSBC or Ed Voyles in the Atlanta area. 2002 Jetta TDI that was k got financed by HSBC for k. That’s 50% interest and Ed Voyles had to lie to the bank saying I was putting k down but wrote me a k ‘miscellaneous’ check and withdrew it after I deposited it into my checking account using the k check I wrote them to be cashed after theirs cleared.
- However, if it’s post auction and they are trying to collect on the remainder of what it didn’t sell for, I’ve never received any written or oral information from the bank regarding what they were going to do with the car. If I’m not mistaken, I was supposed to be informed as to the course of action they would be taking prior to it being taken. If so, I was not.
What ‘rights’ per se do I have if this stipulation holds true?

Thanks in advance.
Ok, you first 3 posters are idiots and trolls.
Read the information. I’m not asking ‘oh lordy lordy what do i do?’

I admit I should have stated that I co-signed with my brother who ended up losing his job [when the layoffs started] just over a year ago and all attempts to keep the payments up HAVE been made, so I’m not some punk who signed a contract and said ‘nah, i don’t wanna pay it.’
I TOLD them to repossess it because they kept calling me asking about when I was going to bring the payments up to date.
My question isn’t How will they, why have they, or when will they repossess it. Those of you who read it as such are retards.

What I asked was [due to some information that I had read regarding Rights of People Going Through a Repossession] if anyone knew of a law that stated what happened when a creditor doesn’t inform you of what will be done to said repo’d property. Such as ‘Breach of Contract’ on the creditor’s end.

Not all repo’s are the fault of the person being repo’d.

…true?
The debt collector said a lot of things, including the bank fraud statement and that I had committed criminal acts because they knew we had money and just weren’t paying them (they said they knew this because they knew we had made our car payment, which is true, we did make a car payment because our car was in jeopardy of being repossessed) and then coerced a settlement payment agreement from me that I told him I would not be able to pay, he will auto withdraw the funds from my checking account and he said if the funds were not available or if I stopped payment, I would be guilty of writting a bad check across state lines and that that would be a criminal act as it was illegal to knowingly write a bad check. My husband said to call him back and tell him I will not be able to honor the payment he made me agree to and that everything he had said to me about criminal activity and bank fraud was all harassment and coersion to illegally get a settlement payment.

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