Selling a Scooter included in Bankruptcy?
Is it possible to sell a scooter (80cc) that will be included in a chapter 7 bankruptcy? We could no longer afford payments on the scooter, and we turned it back in to the finance company (voluntary repossession). We know that typically in a situation such as this, the vehicle would be sold at auction and then they may try to sue for any remainder not covered by the auction selling price. in this situation, the finance called me and said that due to the amount left owed on the scooter and due to some damage to the scooter it would not be worth their effort to sell it and said they did not want it. They said I could pick it back up. I explained that we could no longer make payments and said that we were going to file bankruptcy. I was told that this would be a charge off (which we will include on our bankruptcy). From what I understand, I will not get a title to the vehicle (unless we eventually paid off the scooter which we do not intend to do). my question is in a situation such as this, is it possible to legally sell the scooter since I will not have a title and where the finance company does not want the vehicle? If not, then would it be possible to get insurance on the vehicle and still legally drive it?
[...] This post was mentioned on Twitter by Darren Perez. Darren Perez said: Selling a Scooter included in Bankruptcy? explain chapter 7 bankruptcy ! http://bit.ly/ha93n3 [...]