Vehicle Repossession

Your bank lender may have contacted you if you are late on your car/vehicle payments. Finance Lenders often send you letters and make harassing calls to collect their money. All repossessions and collection actions can be stopped by filing for bankruptcy. You can negotiate a repayment plan with your lender to pay back any missed payments or fees once you file for bankruptcy. This is usually done in a Chapter 13 Bankruptcy case. You may still be able to get your vehicle back even if it has been repossessed. If the lender has yet to sell the car within ten days of repossession, bankruptcy can be used to get it back. You can create a plan to pay your vehicle bills and still have access to transportation. Even if your vehicle is repossessed, you don’t have to lose heart. To get your car back, you must have proof of insurance coverage.