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If you are behind on your car payments do not wait any longer to find out how bankruptcy can prevent car repossession. Not only will it stop the repo, but in a chapter 13 bankruptcy you can reduce the monthly payment and the amount you owe on the loan. Schedule a FREE PHONE CONSULTATION or FREE OFFICE CONSULTATION and find out if bankruptcy is right for you. 1-877-963-9543
Meet our attorneys:
Ryan C. Wood, Partner
Kitty J. Lin, Partner
We are committed to providing you the best bankruptcy experience for a reasonable fee.
Even if you do not want your vehicle back bankruptcy can help. In most cases the vehicle that is repossessed is worth less than what you owe. When the vehicle is auctioned off the loan company will calculate how much the difference is and they seek payment from you. Many times the vehicle is auctioned for less than fair market value. You will receive a bill for the deficiency or the difference between the auction price and the loan, plus various fees for repossessing the vehicle and auctioning it off. This is an unsecured debt now that the vehicle is gone and is dischargeable in bankruptcy if you qualify.
We have filed hundreds of bankruptcy cases discharging millions of dollars of debt. Many of those cases involved saving vehicles from repossession and discharging deficiencies resulting from repossessed vehicles. All of our consultations are free and with experienced attorneys. You will not deal with inexperienced and unlicensed paralegals when you retain our firm. Most of our consultations will take from thirty minutes to an hour to discuss your income, expenses and assets.
If the deficiency resulting from the repossession of your car is your only debt bankruptcy may not be the best approach. You can try and negotiate a settlement or make payments to them to satisfy the debt. Unfortunately most people cannot make a lump sum cash payment though. You also could be sued and a judgment entered against you. If this happens the judgment can be enforced by garnishing your wages or levying on your bank accounts. Bankruptcy will stop the garnishment of your wages and discharge the judgment if you qualify.
With offices in Redwood City, San Francisco, San Jose, Fremont and Oakland we represent clients throughout the Bay Area including San Mateo County, Santa Clara County, Alameda County, Contra Costa County, Burlingame, Daly City, Foster City, Half Moon Bay, Millbrae, Pacifica, Redwood City, San Bruno, San Mateo, South San Francisco, Cupertino, Gilroy, Los Gatos, Milpitas, Mountain View bankruptcy attorneys, Palo Alto, Santa Clara, Sunnyvale, Concord, Danville, Martinez, Pittsburg, Pleasant Hill, Richmond, San Pablo, San Ramon, Walnut Creek, Berkeley, Dublin, Hayward, Livermore, Pleasanton, San Leandro and Union City.
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