COUNTER REPOSSESSIONSFiling a Chapter 13 can possibly prevent your finance business from repossessing your automobile. Generally speaking, whenever you file a bankruptcy, a stay that is automatic developed. This stops creditors from using collection actions against you, including repossessions. When the stay that is automatic in place, the actual only real legal means a creditor can repossess your home is to get authorization through the bankruptcy court. This authorization is rarely provided if you make your Chapter 13 payments.
ENSURE YOU GET YOUR vehicle BACK!If your vehicle was already repossessed, you will need to talk to legal counsel fast.
The finance business is needed to provide you with 10 times notice of these intent to offer your automobile. When this 10 period has past and your car is sold, filing a Chapter 13 will no longer result in the return of the car day. Nonetheless, filing a Chapter 13 before that 10 period is over can result in the return of the car day. Continue reading