Savannah Repossession Lawyer

Stop Vehicle & Other Repossessions Through Bankruptcy

The threat of losing your car can lead to major pressure and worry. All of us depend in a significant way on our vehicles. Cars are essential to individuals and families throughout the cities and states of this country. Having to depend on public transportation or the generosity of family or friends can be time-consuming, and bothersome to all parties.

What happens when the lender calls to tell you your car is going to be repossessed? Life can grind to a stop and you will be scrambling to figure out a solution. If you are behind on your car payments, it can indicate a deteriorating financial condition that, if left unsolved, can lead to the loss of your vehicle as well as other penalties, such as wage garnishment, money judgments, or foreclosure.

In such a situation, you need to understand your options. At the Law Offices of Mark A. Bandy, PC, we provide debt relief solutions to clients on a daily basis. We bring compassion, competence, and experience to your case.

Facing possession of your car, furniture, or other property? Reach out to our Savannah repossession attorney online or at (912) 331-4501 for experienced legal advice. Initial consultations are free.

How to Stop Repossession Orders in Georgia

Some methods to stop repossession include negotiating with the lender, refinancing the loan, and even selling the vehicle yourself. However, one of the most effective ways to stop repossession is through bankruptcy.

A Chapter 13 filing can stop the inevitable forward motion of sinking into further arrears and creditor lawsuits. Once you file for a Chapter 13 bankruptcy, your creditors are prohibited from any further contact with you regarding your debt. This is done through the “automatic stay.” The automatic stay allows you to put your finances in order without the threat of having your car or other possessions suddenly removed.

While bankruptcy may seem like a drastic action to avoid repossession, losing your means of transportation is a drastic action as well that can thoroughly immobilize you. By filing for a Chapter 13, you can catch up on your late payments over a three to five year time period. During that time, your creditors cannot swoop in and repossess your car or other belongings.

In some cases, you may be able to reduce the total amount you pay for your car or other assets. You may also be able to reduce the interest rate you pay on the loan. Depending on the length of your bankruptcy plan, you may be able to repay your entire car or other loan.

Recovering a Repossessed Vehicle

Even if your vehicle has already been repossessed, you may be able to recover it. In your Chapter 13 plan, you will have to arrange for paying the arrears while you continue covering your monthly car payments. You must, however, take action quickly on this to achieve success.

Can My Car Be Repossessed If I Make Partial Payments?

In Georgia, if you have a car loan and are making partial payments, your car may be at risk of repossession. This is because the lender has the right to repossess the car if you are in default on the loan, which means you have not made the required payments on time. If you only make a partial payment, it is not a full payment on your loan, therefore, your lender has a right to repo your car because you have not paid. However, there are some factors that may affect whether or not your car can be repossessed, including the specific terms of your loan agreement and your Georgia’s bankruptcy laws.

If you are facing repossession in Georgia, it's important to consult with a Savannah repossession lawyer to understand your legal rights and options. They can review your loan agreement, assess your financial situation, and help you determine the best course of action to protect your car and your financial well-being. They may be able to negotiate with your lender to modify the terms of your loan or work out a payment plan that allows you to keep your car.

Overall, if you are struggling to make payments on your car loan, it's important to take action as soon as possible to avoid repossession. Consider speaking with a repossession attorney in Savannah to explore your options and protect your rights.

How Many Car Payments Can You Miss Before Repo?

There is no set time on when your car may be repossessed if you default on a loan. You are technically “in default” of a loan if you are one day late with your car payment. Many lenders will try to work with their customers before repossession -- they will send letters or call to arrange a plan that will allow a person to catch up on their car payments, however, one cannot assume that a lender will not repossess a car if a partial payment was made or one payment was missed.