Prevent Repossession or Get Your Vehicle Back
A creditor may begin vehicle repossession proceedings after just one missed loan payment. Whether you are just worried about repossession or it has already happened, filing bankruptcy may give you an opportunity to modify your auto loan and keep the vehicle if you have enough income to make the payments.
The Law Offices of Chad M. Hayward, P.C., represents people in Illinois who are fighting vehicle repossession. Our bankruptcy attorney knows how to prevent repossession as well as how to get vehicles back from creditors. He will review your finances and discuss your options with you. To schedule a free consultation about stopping repossession with Chapter 13 bankruptcy, please call 888-804-8641 or contact us online.
Keeping Your Car
All chapters of bankruptcy provide the benefits of the automatic stay, which will prevent repossession at least temporarily. Filing Chapter 13 will allow you to reorganize all of your debt into a repayment plan of three to five years. Under this plan, you will continue to make payments on your auto loan. If you successfully complete the repayment plan, your creditor will have no reason to repossess your car.
If you file Chapter 13 bankruptcy after your car has been repossessed, you can get your vehicle back if you can afford to make up the missed payments. Talk to us about how we can help you get your car back in this situation.
Filing Chapter 7 will also provide a temporary stay from auto repossession. If you can afford to make your auto payments, you can keep your car under Chapter 7.
Chicago Debt Relief Lawyer
Please call our office at 888-804-8641 to schedule a free consultation. We have offices in Chicago, Aurora, Joliet, Schaumburg, Palos Heights, Northbrook, Oakbrook and St. Charles.
