Is Your Car in Danger of Being Repossessed? Rauser & Associates Can Help
If you find yourself in debt and falling behind on paying your bills or missing car payments altogether, your vehicle may be in danger of repossession. At the Canton, Ohio debt relief law firm of Rauser & Associates, we know that circumstances outside of your control often contribute significantly to your financial situation. Our lawyers are experienced and knowledgeable in all aspects of debt and bankruptcy and can help you make the best decisions to get through this rough patch and preserve as many of your assets as possible, including your vehicle.
Can the Means Test Stop Repossession of a Vehicle?
Erratic payments or completely missed payments on a vehicle may prompt a lender to consider repossessing your vehicle. When you file for bankruptcy, you will take the Florida Means Test to determine whether you qualify for Chapter 7 or 13 bankruptcy. Regardless of which chapter is best for you, an automatic stay goes into effect, immediately preventing lenders from repossessing your car.
The next step is determined by whether you file under chapter 7 or 13 bankruptcy. You may be able to keep your car under Chapter 7 wild card laws. Alternatively, your bankruptcy attorney can negotiate a chapter 13 repayment plan with your lender and have it confirmed by a judge. This will prevent the lender from taking possession of your vehicle, as long as you make the payments.
If your car was repossessed before you filed for bankruptcy, you may still be able to get your car back. A debt relief attorney at the Canton, Ohio office of Rauser & Associates can address the arrearage in your debt repayment plan. Our bankruptcy lawyers know the ins and outs of bankruptcy law. Your attorney can help you negotiate and work towards a favorable solution with your lenders.
Contact Rauser & Associates in CAnton, Ohio
If your car is in danger of being repossessed or has already been taken back by your lender, we can help you in moving forward. The loss of a vehicle can be devastating to an individual or family, and we want to help ensure it doesn’t happen to you. Call Canton, OH office of Rauser & Associates to speak with a knowledgeable and experienced attorney about your options. Don’t delay, call 888-843-5787
