Your Rights In Repossession

: Chris Lee Law Firm

  Filed under: Debt

Defaulting on a debt payment is not a position anyone wants to be in, especially if you have property on the line. Missing a car payment can lead to repossession much faster than you might expect. Luckily, you do have some steps that can help you keep your property.

Hitting The Brakes

Having a car repossessed can easily accelerate your financial troubles. Without a car you may not be able to get to work and earn a paycheck. If you are facing a repossession here is what you should do:

Contact your creditor — find out exactly where you are in the repossession process, whether your account has recently been sent to collections or whether your vehicle is already on the pick-up list.

Try and negotiate — if you have recently missed a payment, or missed only a few, you may be able to negotiate a plan to repay your debts before they take back your vehicle. Be flexible and offer to work with a modified payment plan to get caught up as quickly as possible.

Consult an attorney — depending on where you are in the repossession process, a Dallas bankruptcy lawyer can help. If your debts are recent but are experiencing a significant financial hardship, filing for bankruptcy can be a solution to immediately halt the upcoming threat of a repossession. In many cases, you may be able to resolve your debt with creditors easier through the court than in a direct negotiation.


Are you a candidate for bankruptcy?
Would you like to find out if bankruptcy is the right option for you? Try our Free Online Bankruptcy Evaluation. 4 easy steps to see if bankruptcy could be the right option for you!
  • Step 1
  • Step 2
  • Step 3
  • Step 4
Please Select Each Box That Applies To You
Creditor Harassment
Loss of Income
Foreclosure
Disability or Illness
Current Expenses
Auto Loans
Credit Cards
Medical Bills
Payday Loans
Do you have any additional information you would like to share?
Contact Information