Stopping Vehicle Repossessions Through Bankruptcy
If you are behind on your car, truck or motorcycle payments, your auto creditor may try to take back your vehicle, leaving you with no way of getting to work or completing other tasks critical to your own and your family’s well-being. Facing potential vehicle repossession can be upsetting – however, declaring bankruptcy may be able to save your vehicle. The experienced bankruptcy lawyers at McDowell Posternock Apell & Detrick, PC have over 80 years of combined experience helping their clients protect their vehicles by filing bankruptcy. We will fully explain your rights and guide you through all the necessary steps to help keep your car and your life intact.
How Bankruptcy may Save Your Car
Filing Chapter 13 bankruptcy can immediately stop the repossession of your car, and you will be put on an interest-free three-to-five year plan to pay back your debts. You will no longer have to deal with the stress of possible repossession; the threat of wage garnishment will be gone and creditors will no longer be able to threaten or harass you by phone or mail. All communications will be handled by one of our knowledgeable attorneys, giving you security and peace of mind.
If you filed Chapter 13 bankruptcy and have owned your car for over two and a half years, we also may be able to set up a “cramdown.” This will enable you to reduce the amount you owe to the value of the car and reducing your payment. If your circumstances allow, one of our experienced lawyers will help you restructure your debt in this way. Another option is to file Chapter 7 bankruptcy, which will allow you to eliminate credit card and other debts, to free up finances for your car payments.
Has your vehicle already been repossessed? New Jersey repossession law dictates that you have a 10-day window to get your car back. Act fast – we can file an emergency bankruptcy and possibly help you reclaim your car.
Why should I seek legal help to prevent the repossession of my vehicle?
- Get professional assistance in keeping your car by declaring bankruptcy and restructuring your car payment.
- Get back your vehicle if it has already been repossessed.
- Possibly reduce your monthly payments.
- Learn the truth about bankruptcy and how it will impact your credit and overall lifestyle.
- Receive assistance rebuilding your credit.
Seek bankruptcy advice through a free phone consultation
It’s not too late to prevent the repossession of your motor vehicle – the knowledgeable South Jersey bankruptcy attorneys at McDowell Posternock Apell & Detrick, PC can help. Call us or fill out our contact form to schedule a free phone consultation.