Are You At Risk Of Losing Your Car To Repossession? Act Now!
For most Americans who drive cars, their cars are necessary, not luxury items. You may drive to work, take your children to school or visit your aging parents to care for them. Your automobile is an essential tool in your life when public transportation is not an option because of where you live or the schedule you keep.
If you are like many people, you may have taken out a significant loan when you acquired your car. Financial challenges may have made it impossible for you to keep up with payments on the loan. Perhaps a divorce or some other family situation, a medical crisis, a job loss or business downturn has brought hardships you did not expect when you took out the car loan. A car accident or necessary car repairs may have taken up all your dispensable cash. Whatever the situation, you are now behind on your car payments and despite all your efforts to make things right, you realize you are at risk of losing your car to repossession.
Stop Repossession Of Your Car Despite Your Financial Troubles
Before that happens, please contact a bankruptcy attorney and discuss your options for preventing repossession. Walsh Law Firm, P.L.L.C., in Olive Branch, Mississippi, is a valuable source of information, help and advice. We offer free initial consultations. We will gladly listen to your story and point you toward a workable solution appropriate to your circumstances.
Even if your car has already been repossessed, there may be hope if you act quickly. This may be the time to seriously consider bankruptcy for the debt relief you need.
If you decide, in consultation with a lawyer, to file bankruptcy and do so, the automatic stay — a legal feature of bankruptcy — will stop repossession before it happens. If you are able to keep up with car payments once again, a Chapter 13 bankruptcy may offer you the opportunity to catch up on late payments without pressure over three to five years, likely with reduced interest. Lower monthly payments are achievable in many cases through a Chapter 13 bankruptcy repayment plan.
What If You Believe You Need To Give Up The Car And The Loan?
Filing bankruptcy may allow you to put an end to your car loan obligation altogether by giving up your car. The bankruptcy discharge can include the balance you owe on the car. Once your bankruptcy discharge is issued and you enjoy a fresh start, other auto lenders may make enticing offers to you and you may soon find yourself with another car and a more affordable loan.
Why would lenders of car loans extend credit to you after you file bankruptcy? Because they know you will not be able to file bankruptcy again for eight years (in most cases). Learn more about the power of bankruptcy to resolve a car loan problem today. Call Walsh Law Firm, P.L.L.C., at 662-205-6546 and take steps to stop foreclosure now. You may also send an email inquiry through this website.