Help! My Car Has Been Repossesed!

Written by Columbia Bankruptcy Attorney David Melnyk

In the back of your mind you knew this morning was coming.  Every night for the the past 2 months you have gone to bed wondering whether or not your car would be there in the morning.  You woke up today, looked outside, and it was gone.  W

When you purchased the vehicle you thought you could make the loan payment work.  You were so excited to have the transportation that you needed and proud that you received the financing for it.  Now you are struck with the very real problems of getting your kids to school and getting yourself to work.  You had been communicating with the finance company for months about your struggles to make the payments but they were ultimately unwilling to offer repayment terms you could afford to catch up on the amount you were behind.  You do have options to get your car back!

One option to take possession of your vehicle is to file a Chapter 13 Bankruptcy.  Once I file  Chapter 13 bankruptcy for you the loan company must return the vehicle to you.  There are some very important conditions that must, however, be met.  First of all the car must not have been already sold at auction.  Once this happens it is too late to get it back.  Secondly, you must be able to prove that you have current insurance on the vehicle.  Most insurance companies will provide you with two insurance cards.  Keep one in your card and the other in your purse/wallet.  You must also be able to show that you can afford to pay for the car as part of your bankruptcy.

In most cases once the above conditions have been met the finance company will make arrangements for the return of your vehicle within 24 hours.  If you have any questions about the process of filing a Chapter 13 Bankruptcy to regain possession of your vehicle please contact me for a free consultation.

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