MESA REPOSSESSION ATTORNEY
Guidance for Preventing Repossession in Mesa, Gilbert, Phoenix & Queen Creek, AZ
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When you choose D.M. Bankruptcy Law Group to represent your case, you will work directly with Attorney Dutkiewicz. Our experienced Mesa Repossession Attorney is available after typical working hours to make sure he can answer all of your questions and be there whenever you need him.
UNDERSTANDING THE DIFFERENCES BETWEEN BANKRUPTCY FILINGS FOR A CAR REPOSSESSION
Chapter 7 Bankruptcy
Filing a Chapter 7 bankruptcy in order to save a vehicle from being repossessed is not the best way to resolve the problem, but it can allow a Chapter 7 filer some additional time to get things right with their lender.
If you are behind on your car payments and you file a Chapter 7 bankruptcy, your lender cannot repossess your car UNLESS your lender files a Motion to Lift the Automatic Stay. That motion, even if unanswered, takes 21 days to be granted. During that time, you might be able to negotiate a repayment plan of the arrears (back payments owed) on your vehicle.
If you are unable to work something out with your lender, you at least have some time to find another vehicle. At the D.M. Bankruptcy Law Group, LLC, we have good referrals to send you to find a vehicle even if you just filed bankruptcy yesterday. The Previous vehicle would be surrendered and the Chapter 7 bankruptcy would discharge (get rid of) the debt owed on it.
Chapter 13 Bankruptcy
If you want to keep the vehicle you are in, then the highest probability of you doing that is by filing a Chapter 13 bankruptcy. A Chapter 13 Bankruptcy forces the creditor to allow you to pay the vehicle obligation back OVER A FIVE YEAR PERIOD. In certain circumstances, depending on how long it has been since you purchased the vehicle, you might even be able to “cram down” the obligation on the vehicle to the fair market value.
Finally, be advised that is your vehicle was ALREADY repossessed, but it has only been a few days, you can still recover it by filing a Chapter 13 bankruptcy. Call right away!
Almost always, if you have a car that is about to be repossessed and you want to keep it, filing a Chapter 13 bankruptcy is the right thing to do.
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