Buying a car is financially difficult for many citizens, which is why people take car loans so often. By taking a loan, buyers agree to pay certain installments for the vehicle each month until the loan is fully paid off. However, there might be instances when the loaner is unable to continue with payments for a certain period. Usually, it takes three months of failing to pay off your loan regularly before receiving a repossession notice. This is when lenders might attempt to repossess your car, which is a quite painful and humiliating process. Luckily, there are some ways of preventing your car from being repossessed. The DebtStoppers law firm is the easiest way to secure your car and bank account. In this article, we will discuss this and other methods of eliminating the car repossession debt.
Three Methods of Avoiding Car Repossession
Each state has different laws regarding the car and other belonging repossession. For example, Illinois law states that the lender is fully authorized to repossess a vehicle in case the buyer fails to meet the loan payment requirements. But what can be done if the lender actually comes to take your car? Fortunately, there are three very common and easy ways of preventing this situation. Here are the methods you can apply in such a situation:
- Place your car somewhere where the lender cannot access it. The seller cannot repossess your vehicle if he/she is physically unable to do so. This is especially easy to do on your property where the lender cannot enter without your permission. This could be a garage or any other fenced area. However, keep in mind that the creditor can easily repossess the vehicle when it is parked somewhere in a public place or left on the street.
- Simply tell the creditor not to take your car. Proceeding with car repossession after a verbal warning is considered a “breach of peace,” which is illegal. This means that it should be enough just to ask the lender calmly. No harassment or physical intervention is required as a verbal request still has legal force. No special phrasing is needed, and something like “Do not take my vehicle” or “I forbid repossessing my car” should be sufficient. The only person that could still take the car might be a sheriff with special permission.
- Take this case to the court. Upon receiving a notice about the vehicle repossession, it is possible to take this case to the court and take some time at least for figuring out what to do next. The seller cannot repossess the car until the court hearing is finished. However, a much easier way would be contacting DebtStoppers for professional and fast debt assistance.
The professionals working at DebtStoppers can resolve any repossession case, which also includes cases related to vehicles. You can receive high-quality assistance in such decisions as filing for bankruptcy, which is a common solution for preventing your belongings from being repossessed, or negotiating some alternative payment plans with the seller. The bankruptcy attorney will help you decide which Chapter for bankruptcy is more helpful for your specific case and assist with all the procedures. One of the Chapters allows keeping all the belongings as well as changing the payment plan so there is a chance to continue with repaying the loan. The other Chapter for bankruptcy is not suitable for all cases, although it is very helpful. This Chapter implies liquidating some of the possessions to cover the debt. Each case requires an individual approach, and the attorneys from DebtStoppers will help you with finding a perfect solution.
Nobody has to sit and wait until their car and other possessions will be taken by debt collectors. Taking immediate action might not only save you from car repossession but also make the seller face certain penalties or even pay you instead if they breach the peace while trying to repossess your vehicle. Simply contact DebtStoppers to receive swift and efficient help. Fill in a simple form on the website and receive a free-of-charge appointment with one of the professional attorneys at this bankruptcy law firm. Get your appointment today and be sure that your belongings are safe.