A whopping 7 million Americans were at least three months late on their auto loan payments last year. Were you one of them? Was your car recently repossessed?
If so, then you’re likely wondering how to get your car back. If you reach out to our bankruptcy office shortly after the repossession, then you may still be able to regain custody of your car. Here’s how:
· We’ll help you file for a Chapter 13 bankruptcy
· If your car hasn’t been sold, then your lender will be prohibited from selling it
· You’ll be able to keep paying off your loan and keep your car
If you decide to go with a Chapter 13 bankruptcy, then you’ll need to stay consistent on a three or five-year payment plan.
Are you unsure if you’ll be able to keep paying on your car loan? If so, then Chapter 7 bankruptcy may be a better option for you. If you initiate Chapter 7 bankruptcy proceedings, then it will stop any repossession actions from a lender. You’ll have the option of either paying a lump sum for your car or reaffirming your loan. You can learn more about your options by speaking with an attorney.
Keep in mind that if your lender has already sold your car at an auction, then you may not be able to get it back.
Are You Considering Filing For Bankruptcy?
If you feel bankruptcy is the best option for your financial situation you need to speak with an experienced bankruptcy lawyer as soon as possible. Please contact us online or call our office directly at 888.348.2616 to schedule your free consultation.