Stop a Vehicle Repossession
Vegas Bankruptcy Lawyers Can Help You Stop an Auto Repossession
After filing a Chapter 7 bankruptcy or 13 bankruptcy petition with the bankruptcy court, the bank may not repossess your vehicle without first getting permission from the court. Also, a Chapter 13 filing may allow you to lower your car loan payments, and rid your loan defaults. Through the Chapter 13 payment plan, you pay your creditor auto loan payments.
Is it possible to keep your vehicle in a Chapter 7 Bankruptcy?
In many situations, it is possible to keep your vehicle in a Chapter 7 bankruptcy, as long as you remain current on your loan. Our Las Vegas bankruptcy attorney can stop repossession in Nevada.
Repossession and Automatic Stay
A repossession happens typically when you are behind on vehicle payments to your lender. The lender may repossess your car at any time. By filing bankruptcy, you can stop that effort to repossess. In this case, Chapter 7 and Chapter 13 bankruptcy entitles debtors to the protection of the automatic stay. Also, the automatic stay is a provision that immediately stops creditors and lenders from collection actions, including car repossession. Additionally, no legal action can be taken against you to collect on a debt if you have filed a bankruptcy with the Nevada bankruptcy court.
Nevada Bankruptcy Exemptions
There are available Nevada bankruptcy exemptions that can be applied to the equity of your automobile. Discuss your specific situation with a Vegas Bankruptcy Lawyer. The bankruptcy filing process can be complex, and our attorneys are experts with helping Nevada residents find the best method of debt relief for their particular cases.
Vegas Bankruptcy Lawyers Can Help
Both Chapter 7 and Chapter 13 offer the protection of the automatic stay, but there may be a better option when it comes to your auto loan. In other words, contact our law firm to understand your options to stop an auto repossession. Our Vegas stop repossession lawyer can assist you.
If you are struggling to keep up with monthly car payments and meet your financial obligations, take control of your financial situation. Also, having transportation for work and family is an important priority. Facing a repossession is frightening. We can provide options to take care of this problem, and help you to understand those options.
Helping Las Vegas residents with debt relief is all a part of the advice and guidance our Las Vegas Bankruptcy Lawyer provides as part of the expert, knowledgeable legal representation. Assisting you with debt relief and stop repossession in Nevada.