Stopping Repossession in Mesa | Repossession Attorneys in Mesa
Facing repossession of you vehicle in Mesa? If you have had a car repossessed, or are looking to stop the repossession of your vehicle, our Mesa bankruptcy lawyers can help. We understand. Your vehicle is important to you and your family. Our repossession lawyers know that you need your car and we can make sure you keep it. Additionally, if you have already lost it to repossession we can get it back for you. Thus, time is of the essence, call our office immediately. (480) 833-8000.
The first step to stopping repossession in Mesa is to set up an appointment at our Mesa bankruptcy law office. Meet with our Mesa bankruptcy attorney at a time that is convenient for you and we will advise you on your options regarding repossession possibilities. We will talk through the options and determine the best path moving forward for your current situation. One of the options we have is to file for bankruptcy immediately, by doing that, the automatic stay will go into effect. After filing your bankruptcy, we will contact your car lender and your other creditors immediately and get you the breathing room you need.
The Automatic Stay in Repossession
The moment you file bankruptcy with our repossession lawyers in Mesa, an automatic stay goes into effect. The which forces your creditors to cease all collection attempts against you. This automatic stay forces the people repossessing your vehicle to cease such actions against you and will allow you in some circumstances to get your vehicle back if it has already been repossessed.
The automatic stay in bankruptcy means that your creditors cannot call or harass you. They also can not continue with a lawsuit, repossess, sell, or foreclose on your property. With a few exceptions, you are completely protected from repossession by the automatic stay and bankruptcy.
Bankruptcy stops a repossession. During a BK, your creditors must seek court permission before continuing their collection efforts. This permission is required once bankruptcy has been filed and once the automatic stay is in place.
Bankruptcy Can Stop the Repossession Process
Bankruptcy can sometimes help cancel the debt, or even allow you to stop the repossession process. After filing a bankruptcy petition in bankruptcy court, all creditors are prevented from making any further collection attempts. This is also known as an “Automatic Stay”, which is an automatic order from the bankruptcy court issued upon the filing of a bankruptcy petition to all creditors. This applies to creditors attempting to repossess collateral such as automobiles.
Filing a Mesa Chapter 7 Bankruptcy to Stop Repossession in Arizona.
Filing a chapter 7 bankruptcy to stop repossession is possible. Thus, you’ll have to make arrangements with the creditor to bring all payments current after filing for bankruptcy. Additionally, if you want to keep the car after bankruptcy; you’ll need to sign a reaffirmation agreement and make all payments after filing a Mesa chapter 7 bankruptcy.
Filing a Chapter 13 Bankruptcy in Mesa to Stop Repossession in Arizona.
In a Mesa Chapter 13 bankruptcy , the repossession will be stopped and the debtor gains the chance to repay the value of the car to the creditor through the chapter 13 plan. Chapter 13 is beneficial when you owe more on the car than what it is worth. Thus, the repayment plan in a chapter 13 can actually lower car payments on car loans. Therefore, it is completely feasible to keep your current car and lower the payments in a ch 13. Plus, you will avoid a repossession through filing.
Thus, if you’re thinking about filing for bankruptcy in order to stop a repossession of your vehicle in Mesa, Arizona; you should seek out an experienced bankruptcy lawyer in order to find out which option will work the best in your particular situation. Let our legal team be your guide when it comes to repossession and bankruptcy.
Repossession Lawyers in Mesa, Arizona
Can Bankruptcy Help Me Get My Vehicle Back After it has been Repossessed?
This answer is a little bit convoluted. It depends on when the vehicle has already been repossessed and if you are planning on filing for Chapter 7 or Chapter 13 bankruptcy protection. Our repossession lawyers in Mesa can help you determine which chapter of bankruptcy best suits you.
Time is of the essence. Once your car is repossessed you only have a short time (usually less than 2 weeks) before the lender sells it to someone else. Keep in mind, once the vehicle is sold and title passes to a third party; you normally cannot get the car back. However, if the vehicle has not been sold, you still have a chance to get your vehicle back because the automatic stay from filing bankruptcy will stop the sale and prevent the repossession of your vehicle.