South Jersey Car / House Repossession Lawyers Attorneys Camden Cherry Hill NJ
Will bankruptcy stop car repossession if you have fallen behind in your auto loan payments? Do you have to file bankruptcy to keep your car and other belongings from being repossessed? Concern over stopping car and house repossession is foremost on the minds of many people who are struggling with large debts.
Contact an Attorney Who Can Help You Stop Repossession
The law firm of John Hargrave and Associates, in Barrington, New Jersey, has been helping people stop repossession, end creditor harassment and find good solutions to difficult debt problems since 1977. Call 856-547-6500, or e-mail us for a free initial consultation.
Your Vehicle Will Not Be Repossessed If..
The reality is that in most cases, if you own your car outright or have kept up with your loan payments no one can take your car away.
Can’t Pay Your Auto Loan — Talk to Creditors BEFORE You Default
If you anticipate that you are going to have trouble making your auto loan payments in the immediate future, it is critical that you contact your auto loan holder prior to going into default. Creditors are far more open to renegotiating if repossession is not already in the works. A Chapter 7 bankruptcy or Chapter 13 bankruptcy action may be able to prevent or even reverse a repossession.
If you speak with your creditors, they may be willing to delay your car loan payments for a little while. They may even be willing to restructure your loan altogether. You must speak to them to find out, and the sooner the better.
Creditors Want You to Keep Making Payments
Creditors would prefer to keep receiving payments and that you keep your vehicle. This means that many would like to help you find a way to make good on your loan. Discussing your situation can potentially result in a new payment plan that is affordable and stops repossession.
Filing for Bankruptcy and Stopping Repossession
Bankruptcy immediately freezes the efforts of creditors to collect on debts. Bankruptcy will even freeze any actions being taken for home mortgage foreclosure.
Bankruptcy will give you time to catch up on your loan payments. A Chapter 7 bankruptcy will generally eliminate credit card debt and many other types of debt. In a Chapter 13 bankruptcy you can impose a repayment plan on your auto lender to catch up on missed payments, even if your car has recently been repossessed. A Chapter 13 bankruptcy will also give you the chance to catch up on missed mortgage payments.
Consult an Experienced Debt-Relief Attorney about How to Avoid Repossession
At the law firm of John Hargrave and Associates, in Barrington, New Jersey, we offer a free initial consultation. We will explain your bankruptcy options at that time. Please call 856-547-6500. You may also contact us online to schedule your appointment.
Our goal is to help you get back on the path to financial freedom as quickly as possible. We are a debt-relief agency. We help people file for bankruptcy relief under the bankruptcy code.