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Repossessions Attorney in Downey Safeguarding Your Vehicle When You Need It

The fear of having a vehicle repossessed can create immense stress and uncertainty, especially for those who depend on their car to get around. Without access to a vehicle, it can be difficult to get to work, take care of errands, or even attend social events. The strain that comes with not knowing whether a vehicle will be taken away due to financial hardship is enough to make someone feel powerless and helpless.

It doesn’t have to be this way, though – there are options out there for those facing financial difficulty that could help prevent repossession. A skilled repossessions attorney in Downey can provide guidance and assistance in making sure a beloved vehicle stays where it belongs: with its rightful owner.

Our strong legal team will be able to assess your situation and develop a strategy to ensure you keep possession of your vehicle. We are knowledgeable in the laws and regulations surrounding the repossession process and can provide valuable assistance to those experiencing financial difficulties.

Having an experienced legal professional by your side during this stressful time is priceless. Attorney Le’Roy Roberson and the team at Resolve Law Firm, APC, can help find practical solutions so that your car remains in your possession without costing you more than necessary. Call us today at 213-583-5547 to book an initial free consultation!

What are the Common Reasons for Repossessions?

When a car owner fails to make timely payments on their vehicle loan, the lender has the right to repossess the car and sell it in order to recover any losses. The most common reasons for repossession include:

  • Defaulting on payments
  • Making late payments
  • Failing to provide proof of insurance after being asked by the lender

In general, missing payments are one of the major reasons cars get repossessed. Some car loans are predatory in nature and make monthly payments unaffordable for car owners. Even if a car owner is doing their best to keep up with payments but falls behind, they can still have their vehicle repossessed. Missing out on one payment or making late payments can also put a borrower at risk of repossession. Unfortunately, not everyone has the luxury of making payments on time. Finances may be tough, and a costly car payment just may not be feasible. We help uphold your rights by providing you with debt-relief options that can put a stop to a repo.

How Can I Put a Stop to a Repo?

When it comes to vehicle repossession, filing for bankruptcy can be a path to stopping a repo. After filing for bankruptcy, an automatic stay is put in place, which immediately halts all collection activities from creditors. This includes the repossession of your vehicle. The automatic stay also prohibits foreclosure of your home and wage garnishment.

The automatic stay is temporary, however; if you cannot pay off any remaining balance on the loan after filing for bankruptcy, lenders will still have the right to repossess after obtaining permission from the court. Keeping up with payments is an important factor in avoiding repossession and should be considered carefully when making a decision about whether to file for bankruptcy or not. Our team can advise you of your options and help put a brief stop to having your car repossessed.

Will I Lose My Car After Filing for Bankruptcy?

Filing for bankruptcy doesn’t always mean you’ll lose your car. When filing for bankruptcy, if the vehicle has a loan associated with it, some creditors will attempt to “repossess” the car as part of their efforts to recover unpaid debts. Whether or not they are successful in repossessing your car depends on a few factors.

In Chapter 7 Bankruptcy, any secured debt that is not paid off will be discharged, and that includes vehicles and other property like a mortgage. Your creditor can choose to repossess your vehicle if you don’t keep up with payments after filing for bankruptcy; however, if it’s been an extended period of time since you last made a payment, they are more likely to repossess the vehicle.

In Chapter 13 Bankruptcy, you may be able to continue making payments on your secured debts, such as a car loan, while paying off debt through your repayment plan. As long as you keep up your payments and stay current on them, it’s unlikely that your creditor will repossess the vehicle.

Should I Hire a Repossessions Attorney in Downey?

If your vehicle is at risk of being repossessed, you may feel overwhelmed and unsure of what to do next. The most important step is addressing the financial situation that led to the repossession in the first place. You may want to consider hiring a repossession attorney in Downey to lead you to a fresh and new start financially. Bankruptcy Attorney Le’Roy Roberson compassionately cares for clients dealing with all sorts of financial troubles. He can help you put a swift end to a vehicle repossession and get your financial life back on track. Call our law firm today at 213-583-5547 to schedule an initial free consultation with our team!