Falling behind on a vehicle loan is scary because of the very real threat of having your vehicle repossessed. It is all too easy for this to happen—vehicle lenders' contracts usually legally allow them to do as soon as you are late on your payment. Limited Help with a Chapter 7 "Straight Bankruptcy" Once you have fallen behind on your … [Read more...]
Stop Vehicle Repossession
March 2, 2016 by Leave a Comment
One of the most powerful tools of bankruptcy—the "automatic stay"—can stop the repo man cold. This is the law that automatically goes into effect the moment your bankruptcy case is filed at court to stay—or stop—all collection activity against you and your property. The filing of a Chapter 7 or Chapter 13 case will force a creditor to … [Read more...]
Dealing with an Anticipated Vehicle Repossession through Bankruptcy
May 11, 2015 by Leave a Comment
Bankruptcy stops your vehicle from being repossessed, and then gives you many tools — under both Chapter 7 and Chapter 13 — to either keep or surrender the vehicle. Stopping the Repossession The moment any kind of bankruptcy case is filed on your behalf, the “automatic stay” instantaneously stops a vehicle repossession. The automatic stay is an … [Read more...]
Easy but Important Mistakes to Avoid: Surrendering Your Vehicle or Getting it Repossessed
June 4, 2014 by Leave a Comment
What if you could pay less per month, lower the interest, and pay less until you owned your vehicle free and clear? Bankruptcy as a Game-Changer Bankruptcy is full of surprises, mostly pleasant ones. The most important reason to see a bankruptcy attorney sooner rather than later is that you will then more likely be able to take advantage of … [Read more...]
