Stop your Repossession or Get your Car Back!
If you live in Michigan and are behind on your car payments or your car has been repossessed, it can be frightening. Michigan may be one of the worst states to live without a vehicle. After all, people need their vehicles to get to and from work, transport their kids and do simple daily tasks such as grocery shop.
Don’t worry, we’ve help numerous people and we can help you!
The best way to get help is to fill out the form or contact us immediately to set up a free consultation.
Nobody wants to the repo man to show up at their job or wake up one morning to a car that has gone missing due to a repossession.
The ideal solution to a repossession will depend on your specific situation. It will vary based on if you have an old judgment creditor looking to repossess your vehicle, if you are behind on your payments on the vehicle, or if your vehicle has already been repossessed.
No matter the situation, time is most important!
A judgment creditor is one who has already got a money judgment against you and is looking to collect. One way these creditors try to collect is to repossess a vehicle which is already owned free and clear and to sell that vehicle at an auction. These creditors can usually be dealt with swiftly via a Chapter 7 bankruptcy. A Chapter 7 bankruptcy will clear up the money judgment and prevent the creditor from repossessing your vehicle. However, you must file a Chapter 7 bankruptcy before your vehicle is sold at auction. After it is sold at auction there is nothing that can be done to get your vehicle back.
If you are behind on your payments the creditor may also be trying to repossess the vehicle. There are a couple of options for people in this situation. If you would like to keep your car, then you can file for a Chapter 13 bankruptcy and get caught up on your car payments over the course of three to five years. If you don’t want the car, you can file a Chapter 7 bankruptcy a wipe out any underlying deficiency you’ll have once the car is taken and sold at auction.
The last situation is if you are behind on your car payments and the car has been repossessed. In this situation, you can file a Chapter 13 bankruptcy and get your car back. However, you’ll need to file the case before the car is sold at auction. The Chapter 13 will allow you to catch up on the arrears over the course of three to five years. Once the car is sold at auction then there is nothing that can be done to get the car back.
As you’ve seen, time is super important! To find the best solution to your specific situation call or contact our office immediately!