STOP CAR REPOSSESSION!
If your financial trouble is serious and you can’t make ends meet, nothing is more damaging to your attempts to recover than pressure and threats. You do your best to pay the bills, but creditors harass you with threats to take action. The thought of losing your car to repossession or even your home to foreclosure can immobilize you and dampen your dreams of a financially secure future.
Bankruptcy filings give you an “automatic stay." This prevents creditors from calling you, writing you, repossessing your car, or foreclosing on your property once you have declared bankruptcy.
If you find yourself in the unfortunate situation of vehicle repossession or if your car has already been repossessed, you may be able to recover the vehicle if you file a Chapter 13 bankruptcy case within the 10-day redemption period that exists under Georgia Law. In Georgia, once your car has been taken, your creditor will likely hold onto it for 10 days. During that time, Bankruptcy law allows you to recover possession of it! In some cases, the lienholder will release a car even if you file after the deadline has passed.
In many cases, the monthly payment on your vehicle will be reduced when included in your case for Chapter 13 bankruptcy, and interest rates, even on Title pawn loans like Titlemax, can be reduced to a more fair number.
If your car loan is more than 910 days old, (about two and a half years), then you can reduce the debt to the "fair market value" under your Chapter 13 plan. We can file a Chapter 13 case the same day that you meet with Brookhuis Law, and call your auto finance company and tell them your vehicle is under protection.
No finance company will attempt to repossess your vehicle after we have notified them. If your vehicle has already been repossessed, we can have it released back to you if you see us within the redemption period, roughly ten days after repossession.
Avoid Vehicle Repossession
With the ineffective public transit system that we are stuck with in Georgia, it is imperative for an individual to have a vehicle in order to get to and from work, errands, church, family events, and more. But if you are having trouble maintaining the payments on your vehicle, you will soon be faced with repossession. Unfortunately, repossession has greater impact than just losing your vehicle. Brookhuis Law can help you file a Chapter 13, wherein you can continue paying your car creditor so that you can keep your car, only now YOU HAVE MORE CONTROL!
Take control of your financial future.
Call or Text Brookhuis Bankruptcy Attorneys at (678) 390-8070.
Even if you allow your vehicle to be repossessed, it will be auctioned and you will owe the difference between your payoff and what they get in the auction. Generally, vehicles are auctioned for far less than they are worth, and you get stuck with the remaining balance. This is called a "deficiency." This system adds insult to injury in that you are asked to pay for a car you no longer have. Auto finance companies can be very aggressive in collecting these deficiencies and seek judgements and wage garnishments to collect their money. Even if you cannot afford to make a Chapter 13 payment to keep your car, it is still likely better to file a Chapter 7 and surrender the vehicle, than to simply let it be repossessed. A vehicle repossession can have horrible ramifications. Therefore, a consumer will want to do everything possible to avoid vehicle repossession.
Don't wake up to find your car was taken from your driveway. Contact Brookhuis Law at (678) 390-8070 for a free consultation to determine if you can save your car.
Serving Metro Atlanta & Surrounding Counties
Brookhuis Law, LLC is a bankruptcy, family law and general litigation firm serving clients in the metro Atlanta area, as well as Fulton, DeKalb, Henry, Clayton, and surrounding counties.
125 E. Trinity Pl.
Decatur, Georgia 30030