Stop Car and Truck Repossession in Ohio and Northern Kentucky
If you are behind on your car loan payments, creditors can repossess your vehicle at any time. Unlike a home foreclosure and eviction, which takes months to complete, a car repossession can occur overnight. The "repo man" can show up at your home or your job. When you step out the door, you will find that your car is gone.
If you are behind on your payments or worried about car repossession, contact the law office of Patrick J. Conway, LLC. I work exclusively in bankruptcy law. As a bankruptcy and repossession lawyer in Cincinnati, Ohio, I help people get relief from debt and creditor harassment with Chapter 7 and Chapter 13 bankruptcy.
Filing for Chapter 13 Bankruptcy as a Solution
Once your car is repossessed, state law says it can be auctioned off after 30 days. However, you must be given notice of the date and time of the auction, and of your right to pay off the debt in order to get it back. In order to get the car back, you will need to have proof of liability insurance.
Both Chapter 7 and Chapter 13 bankruptcy can be used to stop repossession if a bankruptcy petition is filed before the repossession occurs. Normally we can file a Chapter 13 bankruptcy petition and the car loan will be folded into the debt repayment plan. You are not bound by the monthly payment your prior contract specifies when doing a Chapter 13 payment plan. I can usually get loan terms that are better than what you had with the existing lender during this process.
Chapter 7 Bankruptcy: A Fresh Start
While Chapter 7 bankruptcy can stop a vehicle repossession temporarily, you will still have to come up with the amount needed to repay your loan. If you can't come up with the full payment, your car can later be auctioned with bankruptcy court permission. What Chapter 7 does give you is time to come up with an alternate financial plan. As other debts are discharged, you may find that you now have money available to repay your car loan.
See Repossession: what creditors can and can't take.
Know Your Rights and Stop Repossession
To understand your repossession rights, contact me, a bankruptcy and repossession attorney in Cincinnati, or call my office at 513-924-4517 to schedule a free initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
