If you are struggling with debt and unable to make payments,
your creditor may try to repossess your car. There are things you can do to
stop car repossession. The bankruptcy attorneys at King & King can explain
your options and help you keep your car.
Can Bankruptcy Stop
Repossession?
Yes. When you file bankruptcy, your creditors cannot repossess your car provided you agree to make payments. By filing Chapter 13 bankruptcy, your debt will be reorganized and reduced, and you will have the
chance to repay that debt over a period of time.
Bankruptcy can also stop:
Wage garnishment
Lawsuits by creditors
Foreclosure
Other collection actions
My Car Has Been
Repossessed. Can I Get It Back?
In most instances, if your car has been repossessed by a
creditor, but has not yet been sold, you can get it back by filing Chapter 13
bankruptcy, but you must act quickly. Usually, creditors will hold the car for
10 days. If bankruptcy is filed before the creditor has resold the car, you should
be able to get it back.
If you’re behind on your payments, contact the bankruptcy
team at King & King to learn about your options. Facing repossession and
other collection tactics can be frightening, but with the power of the
bankruptcy code on your side, it doesn’t need to be. By choosing an experienced
bankruptcy law firm, you can protect your valued property and stop debt
collectors in their tracks. Call King & King today for a free consultation
at 404-524-6400 or visit us online at www.kingandkingattorneys.com
