Don't let creditors repossess your property.
We can help you keep your car or truck.
Are you behind on your car payments? It can happen to all of us. Your lender does not want to hear your explanations. They do not care about the hard times that you have fallen upon. They have only one concern. They want money. If they feel that you will not pay them, then they want the next best thing...your vehicle.
You cannot expect your lender to respect or inform you of your legal rights in this situation. They do not care about you and are willing to say whatever they need to in order to get any sort of payment out of you. They will act like your friend if it means that they think that will get them their money. If that approach will not work, they will do the complete opposite and use scare tactics to accomplish the job. The more money they collect, the more those people making those phone calls will receive on their next paycheck. Ultimately, their only concern is accomplishing one of two things. They want to get any amount of money out of you, or they want to take your car away from you.
There are Federal Laws that can help you with your situation today.
Unexpected situations can happen. Maybe you encounter a hospital visit or a home repair that ends up taking away one of your car payments. Borrowing money from friends or family may just be too humiliating. Suddenly, you find yourself trying to figure out which bills you can wait to pay off in order to make payments on the more important ones. Delaying a car or mortgage payment really can free up a lot of money to use on those other expenses, and, if you plan it right, the only penalty is going to be the late fee. You didn't plan to get laid off, or end up in the hospital, or to repair that broken appliance in your budget. Maybe if you can move just a few things around you can make it work. The next thing you know, you're receiving threats of repossession from the bill collectors.
Sure, it is true that some lenders will actually go the extra mile to try and work something out with you. Quite frankly, there aren't many of those types of lenders out there.
You should know that a lender has the right to repossess your vehicle for any amount of time that you are late with your payment. It could be two months, but it also could be two weeks before you start hearing threats of repossession. As long as you are late, they can repossess. The main reason that they do not just go ahead and file a Replevin right away is quite simply because they do not actually want your vehicle. They would much rather get paid than repossess, but if you are missing payments, they may see it as their solution to that problem.
If your vehicle gets repossessed, it does not free you of your responsibility to your lender. The car can be sold at a public auction at a smaller amount than what you still owed for it, and you will be responsible for paying the difference. Essentially, you continue to make payments for a car that you don't even own anymore. You're also now responsible for all of the court fees that the lender incurred by taking you to court and getting a judgment against you. You basically end up paying them to take your car away from you.
You can keep your car even if you've missed several months of your payments. The Chapter 13 Bankruptcy is designed to stop repossession and establish a more affordable way to combine your bills so that you can afford those monthly payments. There are a couple of ways that we can help you accomplish that. In some cases, you just need the opportunity to get current because you can afford the monthly payments again. The Chapter 13 allows you to pay back the money that puts you behind over five years, making it seem less daunting just to keep your car and stay current with your payments. It is also possible that the Chapter 13 will help you reduce what you end up paying on your car by taking into consideration its fair market value. It just may be possible to get back on top of that loan, after all.
We can help you keep your car, but we can also help you get rid of it, too. It is possible with a bankruptcy filing, to return a car that is just too much of a financial burden on you without being held responsible for the remaining debt. You can give it right back to the creditor without fear of paying back the difference. If you own a car that the payments are just too high, or you owe more than what the car is worth, or perhaps it's a car that was meant to supplement your first vehicle, but you just cannot afford your payments, please be aware that you have options with our office that can free you of those burdens.
We cannot stop them without filing. So, please, if you would like to find out more information about how we can help you with repossession, set up a consultation and we can walk you through it. Some people need their cars as if they were lifelines. Their families, jobs, and livelihood can all depend on keeping that vehicle. We can help you do that.
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