REPOSSESSION

Don't let your vehicle be repossessed

If you are behind on your car payments and past the grace period, your vehicle can be repossessed by the lender.

If your vehicle is repossessed, the lender will sell it at auction, give you credit for whatever it sells for and pursue you for what is called the “deficiency balance”.

A Chapter 13 bankruptcy may allow you to stop a lender from repossessing your vehicle and in many cases modify the terms of your auto loan to a lower payment and lower interest rate, in addition if you financed your vehicle more than 910 days ago we may be able to reduce the balance down to the value of your vehicle saving you even more!

If you simply don't want the vehicle then a Chapter 7 may allow you to give the vehicle back to the lender and get out of the liability entirely.

Call us today at (425) 771-8230 if you are experiencing problems with your vehicle loan to discuss your options. A Chapter 13 to modify your auto loan or a Chapter 7 to get out of the car loan entirely might be the solution to your problem.