You're understandably attached to your car, and the thought of having it taken away can be almost unbearable. So can't you just hide it and avoid the entire car repossession process? How long will a repo man look for a car that's up for repossession? If you’ve made it impossible for the repo man to get to your [...]
If you've missed a car payment, and then another, and another, you may be facing the prospect of having your car taken away from you. Vehicle lenders have specific rights, which end only when you have paid off your loan obligation. These rights will be laid out on the contract you signed when you drove [...]
Can Bankruptcy Help Stop Repossession? Bankruptcy and Auto Repossession Bankruptcy is designed to protect individuals or businesses that are unable to meet their financial obligations — and provide protection to involved creditors as well. While bankruptcy is a serious procedure and should only be considered if absolutely necessary, sometimes it is the best solution for [...]
Debtors often wonder what will happen to their car when they file bankruptcy. In most cases, you get to keep your vehicle during and after your case is closed. Even if you are behind on payments when you file you may be able to retain possession of your vehicle through exemptions offered. The outcome of [...]
Getting Repo'd After You Filed Bankruptcy If you've fallen behind on car loan payments, it's common to worry about your vehicle getting repossessed . Debtors who file for bankruptcy protection often do so when they fall behind on paying bills or are struggling to make ends meet while trying to pay for necessities each month. [...]
Many consumers may wonder if they can keep their vehicle in a Chapter 7 bankruptcy . There is a motor vehicle exemption that may help protect your vehicle including any equity it may have. In understanding how much protection you qualify for includes reviewing the amount of equity you have in your vehicle. This often [...]
Consumers interested in filing bankruptcy may come across myths and misconceptions that cause confusion. For instance, some are under the impression that as soon as they file bankruptcy they must surrender their assets. This isn't true and it's not often the case. If you have a motorcycle it is likely you'll be able to keep [...]
Can Filing Chapter 13 Help You Keep Your Vehicle? Chapter 13 bankruptcy is a repayment plan that helps reorganize debt obligations. Payments are made based on a schedule that's approved by the court. While the chapter is commonly known for helping debtors keep their home and prevent foreclosure, it can also help you keep your [...]
Bankruptcy's 910 Day Rule Debt troubles don't really have a timeline where things start out bad and then get a better over time. To the contrary, debt troubles start out slow and then snowball into an avalanche of financial crises which usually end only once the debtor files bankruptcy. That's why bankruptcy's 910 day rule [...]
When Can a Bank Repossess Someone's Car? Debtors who have fallen behind on their car payments are at risk for vehicle repossession. Unfortunately, in their attempts to find out how they can save their car from repossession, they are the victims of misinformation and outright scams. Common Myths About Car Repossession Below are few myths about [...]
