Help! My Car Was Repossessed! Bankruptcy Can Help!
There are times when almost every person falls behind on paying bills. It could be a temporary decrease of income such as a reduction in hours or the loss of a job. In some cases, it may be due to the loss of a spouse through divorce or death or an unexpected medical emergency that causes someone to be unable to pay his or her bills. Whatever the case may be, if you are behind on paying your bills, bankruptcy can help protect your assets while giving you the relief from debt that you need in order to reorganize your finances.
How Bankruptcy Can Help Save My Car
from Repossession?
When you file for bankruptcy relief, the bankruptcy laws provide for an automatic stay that goes into effect immediately to protect you from future collection actions. The automatic stay goes into effect as soon as you file your bankruptcy case and remains in effect until your case is closed or the courts grant a modification of the automatic stay. The automatic stay prevents creditors from continuing any legal collection efforts, including but not limited to, the repossession of your vehicle. In other words, the creditor is prohibited from repossession of your vehicle after you file a bankruptcy without court permission.
Chapter 13 bankruptcy can help save your car by allowing you to pay the lien through your Chapter 13 plan so that you can keep your car while you resolve your debt problems. In many cases, you will pay a lower interest rate on the debt you owe on your vehicle and the monthly payments will be lower through the bankruptcy plan. When you complete your bankruptcy plan, your vehicle will be paid in full and the creditor must then give you the title “free and clear” of any liens.
In addition to stopping repossession, bankruptcy can help you get a fresh start by discharging unsecured debts to give you the opportunity to rebuild your finances and your credit rating so that you can plan for a stronger financial future for you and your family. If you are facing a repossession, do not delay – – call our office IMMEDIATELY. We can only help save your car if you act quickly to file a bankruptcy before your vehicle is repossessed.
Contact an Experienced
Bankruptcy Attorney
We’ve Helped Thousands of KY Families,
we can help you!
The bankruptcy attorneys of Musselwhite Meinhart & Staples, PSC have over 50 years of combined legal experience helping people just like you. This experience has enabled the attorneys to achieve the best possible results for their clients time and time again. Your case is important to you; therefore, it is important to us. We represent clients in Hardin County, Jefferson County, and throughout central Kentucky from our offices in Radcliff and Elizabethtown and Kentucky.
Contact us at (270) 351-6069 or (502) 968-1968 or 1-800-754-HELP to schedule a free consultation with one of our attorneys. You may also contact our office through our convenient online contact form. We look forward to meeting with you to discuss your legal options for resolving your debt problems.