If you’ve had trouble making car payments and are facing repossession we can help! We get it. Car payments and other bills are higher than they’ve ever been. And many people here in Oregon really need their cars! So what can you do if you’ve fallen behind or missed a few payments and your lender is threatening to repossess your vehicle? You can call us.
You’ll get immediate relief because you’ll be able to talk to a bankruptcy and loan modification expert, FOR FREE. We offer a free consultation with a bankruptcy attorney where we’ll go over your finances and help you make a plan. During the appointment we will discuss the various options that may help you keep your car and recover financially through bankruptcy. We stop all collection activity and repossessions.
Did you car already get repossessed? Don’t wait. Call us today, because we might still be able to help you get it back!
Can a Chapter 7 bankruptcy help me if my car is about to be repossessed?
One of the aspects of bankruptcy our clients are most relieved to learn about is the “automatic stay”. If you file any type of bankruptcy, all collection activities and legal proceedings your creditors are pursuing are essentially put on pause. That means your car loan lender can’t repossess your car without going through the courts. This slows everything down and gives you and your bankruptcy attorney a chance to put together a financial plan which may allow you to retain the vehicle.
Putting together a bankruptcy plan with an attorney who is on your side helps you feel confident the plan will work for you. For example, you may have had trouble making car payments, but you need your car to get to work. We’ll help you work out plan that won’t leave you financially crippled or stranded.
What about a Chapter 13 bankruptcy?
A chapter 13 bankruptcy can be a great solution to help you keep your vehicle. In a chapter 13, your debts are placed in one payment plan handled by a bankruptcy trustee. Your car loan can be included in that plan. Then, in some cases your car loan amount can even be “crammed down” to help reduce the monthly payments. Just like a Chapter 7, if you decided to file Chapter 13, the automatic stay goes into effect immediately. With the assistance of an experienced Rank & Karnes attorney on your side, you’ll have a team helping you create the financial future you want.
Is there any way to modify my loan so my car won’t be repossessed?
Possibly! Most lenders don’t actually want to repossess your car. They lose money, and it takes them a lot of time and hassle. Occasionally if a lender realizes that you’ll be filing bankruptcy and that means that some of their loan may be discharged (left unpaid) they may be interested in negotiating. In these cases we can help you negotiate a new loan agreement and a payment you can afford.
Bottom line? Don’t wait.
If your lender is threatening to repossess your car, or even if they’ve already done it, pick up the phone. Call us at 503-385-8888 and get an experienced legal team on your side. We can help stop repossessions. In some cases we can even get your car back for you. We’ll help you navigate your next steps. Most importantly we’ll be with you every step of the way, from this difficult period all the way to a brighter future.