There is no statutory time limit for lenders to repossess a vehicle after bankruptcy.
This can cause hassles for people who are stuck paying insurance on a vehicle they don’t own.
On the other hand, if the car is older and has little value, the lender may never get around to repossessing it, and you are in your rights to continue driving the car – with proper insurance and registration – until the lender comes to get it.
If that never happens, you may have a payment-free car for the rest of the life of the vehicle.
The lender will never give you the title to the car, so you’ll never be able to sell it.
If you’ve been left with a vehicle that’s not yours, but which no lender has expressed interest in retrieving, call the attorneys at Zelenitz, Shapiro & D’Agostino at 718-599-1111 and learn what your options, rights, and responsibilities are.