Lowering Your Auto Loan Payments
If you are in danger of having your vehicle repossessed, it is important to know that you have options. Working with an experienced consumer debt relief attorney is a good way to get started and prevent repossession.
Contact The Law Offices of Chad M. Hayward, P.C. We assist people in Illinois who are having trouble paying their auto loan payments and other bills. At your free initial consultation, we can review your finances and your auto loan terms to determine what type of debt relief may be right for you. To schedule a free consultation, please call 888-804-8641 or contact us online.
Our Firm Can Help You Prevent Repossession
We understand that losing your vehicle to repossession has serious repercussions. For most people, their car is their only means of getting to work, to school or to places such as the grocery store and doctors' office. People who live in the suburbs have an especially difficult time without a vehicle because of the lack of public transportation.
To prevent repossession, you have several options. One is to modify your auto loan. We can review your loan documents and negotiate with your lender. Because they want your money more than your vehicle, they may be willing to extend the terms of your loan or lower the interest rate so you can afford to make the payments.
Filing Chapter 13 bankruptcy is another way to prevent repossession. Under Chapter 13, your debts, including your car loan payments, will be consolidated and your monthly payments will be lowered for a period of three to five years. Bankruptcy also provides the protection of the automatic stay, which prevents creditors from taking action such as repossession while the bankruptcy is in progress.
Chicago Bankruptcy Lawyers
Beware of for-profit credit counseling or consolidation companies that offer to lower your auto payments. Many of these companies take people's money without performing any real service.
Please call our office at 888-804-8641 to schedule a free consultation with an attorney. We have offices in Chicago, Aurora, Joliet, Schaumburg, Palos Heights, Northbrook, Oak Brook and St. Charles.
Se habla español.
