Hire A Respected Bankruptcy Lawyer To Stop Repossession

You use your vehicle for everything you need to go and do outside the home. It might mean driving to doctor’s appointments, getting to and from work, or bringing your children where they need to go. If you are currently going through bankruptcy and worried about repossession, you should look for the right lawyer to help you with your case.

The emotional and financial effects of vehicle repossession can bring immense stress to any family. If you have missed a payment, you should act fast and ensure all of your bankruptcy paperwork is in order with the help of an experienced professional who has been through this process with other clients.

The Car Repossession Process

When financing any vehicle, you agree to the lender keeping a lien on it until the loan gets paid in full. Missing these payments and falling behind gives your lender the right to repossess the vehicle. It is important to remember that:

• The number of payments you are allowed to miss before the vehicle gets repossessed varies from one lender to another.
• In some states, lenders will not need to send notice before repossessing a car.
• The vehicle cannot get forcibly taken, such as you still being in the car or sitting inside your garage.

Did You Know? A Bankruptcy Filing Halts the Repossession!

Once you file Chapter 7 or 13 bankruptcy, an automatic stay gets put into place. All creditors, including your auto lender, get notified of the stay and can no longer contact you or begin measures to repossess your vehicle.

Hiring an experienced bankruptcy attorney will help you determine your best options based on your financial situation. Call Teague & Associates at (314) 899-4499 to set up a consultation with a bankruptcy lawyer to stop repossession.