Automatic Stay Lawyers Serving Clients Throughout Warren County, Butler County and Beyond
If you are behind on your vehicle payments or have been threatened with having your car, truck or motorcycle repossessed, it is important to know that you do not have to let this happen. Filing bankruptcy legally stops vehicle repossession. It puts an automatic stay into place that stops all creditor actions against you, including repossession of your car and other property.
At the law firm of Harold Jarnicki & Associates, our lawyers have more than 35 years of experience. You can be confident that we will put that experience to work for you, helping you keep your motor vehicle
Do You Want to Keep Your Car? Lower your payments?
Have you decided that your car payments do not really fit within your budget? Perhaps you are considering just letting your car be repossessed, or giving it back to the bank, also known as a voluntary surrender. Do not do this, because doing so will leave you on the hook for large amounts of money. Your creditor will likely sue you for the deficiency, which means the difference between what you owe and what they were able to sell your car for at auction.
Filing bankruptcy stops the repossession and buys you time to explore your options, including keeping your car or selling it on your own terms. If you plan on surrendering the vehicle or it is already repossessed, filing bankruptcy will eliminate the debt still owed on the vehicle, which is often many thousands of dollars.
Keeping your car is a definite possibility. By filing bankruptcy, you can stop the repossession process and determine a strategy to catch up on your payments. Chapter 7 allows you to eliminate other debts so you can focus on your past due car payments. Chapter 13 allows you to include missed payments as part of your debt repayment plan. Both Chapter 7 and Chapter 13 have options to possibly lower the payments on your existing vehicle. In many situations, the bankruptcy laws allow you to pay back only the value of your vehicle, not the entire amount of the loan owed. Our attorneys will show you all the options available.
Has Your Car Already Been Repossessed?
If your motor vehicle has already been taken away, you may be able to get it back. As long as it has not been sold, there are steps that can be taken to get the vehicle back and keep it. This is no easy task, and it requires fast action, but our experienced lawyers know how to do it.
Contact Us For Your Free Initial Consultation
To discuss your case with one of our Cincinnati and Dayton repossession defense attorneys, contact us today.
