Keeping Your Car In Bankruptcy

Many people need their car or truck to get to and from work, buy groceries or pick up the kids after school. If you have fallen behind on your car loan or lease payments, you may be concerned about losing your vehicle. Many individuals delay contacting a bankruptcy lawyer due to a fear they will lose their car, or other assets, in bankruptcy. In reality, filing for bankruptcy may be your best option in protecting your assets.

Filing For Bankruptcy Relief Will Stop Car Repossession

One of the many benefits of bankruptcy is the automatic stay that arises immediately when the petition is filed with the court. The stay is a court order that stops creditors from continuing to pursue any collection activities, including repossessing a vehicle or selling the car at auction after the lender has taken back the vehicle. If you have fallen behind on your car loan or lease payments, it is critical for you to act quickly to learn your legal options.

I have been helping people in New York conquer debt problems since 1980. There are many options available under the Bankruptcy Code to obtain meaningful debt relief. However, a detailed review of your specific circumstances, needs and goals is vital in protecting your financial interests. I will review the details and provide you with straightforward answers regarding all of your options to allow you to move forward with confidence.

To save your vehicle from repossession, you will need to be able to afford making the car payments going forward. Many people find that relieving high credit card balances, medical debts and personal loans through a Chapter 7 bankruptcy is sufficient to make the car loan affordable again.

Chapter 13 is an option for individuals who have a reliable income. In a Chapter 13 plan, you may be able to make up past-due payments over the course of three to five years. Often high interest car loans can be restructured in association with bankruptcy. I will guide you through every available option, depending on your unique situation.

Contact An Experienced Bankruptcy Attorney In White Plains And Carmel

Let me guide you through your legal options and craft a solution to your debt problems, tailored to your specific needs. Contact me online or call 800-592-3020. I have offices in White Plains and Carmel for your convenience.

The law practice of Nathan Horowitz, Esq, is recognized by federal law as a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.