How Do I Stop Car Repossession?
For people who have fallen behind on their car payments, auto repossession becomes a major concern. Being left without a vehicle can make it extremely difficult to get to your job and fulfill many personal obligations. Filing for bankruptcy can stop car repossession activities and make it possible for you to get caught up on your payments.
At the Salt Lake City, Utah based law office of Justin M. Myers, Attorney-at-Law, LLC, we have helped countless clients to get the debt relief they need and keep their vehicles through filing for Chapter 13 bankruptcy. Our founding attorney, Justin M. Myers, has been involved in bankruptcy law his entire career. He will take the time to help you understand your options and work with you to find the right solution for your needs.
What You Should Know About Car Repossession
Many people mistakenly believe that if their car is repossessed that their obligation for the debt goes with it. In fact, repossessed cars are sold at auction to the highest bidder. If the winning bid does not cover the balance owed, you will be held responsible for any remaining balance as well as collection costs, including towing, storage and other expenses.
By filing for Chapter 13 bankruptcy, you are automatically granted an automatic stay against all collection activity, including repossession actions. In Chapter 13, you can consolidate your past due car payments along with your other debts and pay them back over a three to five year period. Going forward, you would simply make your regular car payments as normal.
Schedule Your Free Initial Consultation
Contact our office today to discuss your car repossession questions with a lawyer. We are available during regular business hours and by appointment evenings and weekends. You can reach us by phone at 888-811-7784 or via e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
