Is It Possible to Stop Vehicle Repos?

Is It Possible to Stop Vehicle Repos?

Having a car means freedom to go where you like, when you like. When people finance a car, they plan on having no trouble keeping up with the payments and paying off the loan. Unfortunately, unexpected illnesses and job losses can cause financial issues to arise. When this happens, people often get behind on their payments. Once a person gets behind on a few payments, the car note holder has the legal right to repossess the car. This can be devastating for a person who has worked so hard to make their payments.

The law requires car note holders to pursue repossessions carefully. Repo workers must act within the confounds of the law. Illegal repossession can allow a person to seek a court case against the note holder. This is why it is a good idea to hire a lawyer if you are being faced with repossession. The sooner a lawyer is involved, the better the chances of a person being able to Stop Vehicle Repos.

A lawyer may be able to help Stop Vehicle Repos by contacting the car note holder. In some cases, loan holders are willing to work with their customers when a lawyer gets involved. If the company is unwilling to work out satisfactory arrangements, there is another option.

Bankruptcy is beneficial for those who have secured debts, such as car notes and mortgages. Chapter 13 bankruptcy can allow a person to stop any repossession action. To start the process, a meeting will need to be scheduled with the lawyer. It is important people bring in their financial records and income information. All debts will need to be listed in the bankruptcy or they will remain the responsibility of the applicant.

Once the bankruptcy has been decreed, all creditors must cease from collection activity. They cannot garnish wages, repossess property or foreclose on homes. As long as payments are paid during the bankruptcy period and are current when the period is over, there will be no repossession.

If you are facing repossession or foreclosure, contact a lawyer right away and find out how they can help you. There is a way to stop the process and hiring a lawyer is the first step towards getting help.

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