In today's economy, many people are behind on their car payments and facing repossession. If you or a loved one is facing repossession or behind on car payments, call The Sellers Law Firm today! When you get behind on payments for vehicles, the creditors or lender can repossess the vehicle. The lender does not have to give you notice of the repossession. Your car can be “picked up” at any location including your home, work, church or even at the grocery store!In most contracts for loans such as vehicles loans, there are clauses where you agree to allow the repossession of your vehicle should you fail to make the scheduled payments. Most people believe that all car loans provide a “grace period” which allows them 10 extra days to make a payment beyond the monthly due date of the loan. This is simply not true. Sometimes your lender may tell you that they intend to repossess your car and the best action is to contact them and catch up the past due payments. However, many people are not in a position to do that, which is when filing a Chapter 13 bankruptcy may be your best option. Chapter 13 can stop the repossession of your car and allow you to pay back the lender over time through a Chapter 13 re-payment plan. A Chapter 13 also allows you to generally reduce the interest rate on your car loan. Sometimes, when you are “upside-down” on the loan, we can even reduce the amount of the loan to the value of the car. Therefore, if you owe more on the car than what the car is worth, then you only pay what the car is worth. However, don’t wait until it is too late. Once the lender has repossessed the car, we generally have no legal way to force them to return the vehicle.

If your car has already been repossessed, you may be responsible for the unpaid balance of the loan once the car is sold. If this is the case, bankruptcy may still be the best option for you, as it will protect you from judgments, collections, and possible wage garnishment. Whether you have a prior repossession or are struggling to save your car, give The Sellers Law Firm a call today! At The Sellers Law Firm, we have helped thousands of individuals and families statewide save their homes, their cars and their hard earned wages. Having an attorney who knows how to protect you and your property is vital. Call today for your free consultation! Doing nothing, changes nothing!

The Sellers Law Firm is located throughout central Alabama with offices in Montgomery, Selma, Greenville, and Troy. Call us today at 334-LAWYERS (334-529-9377) to start protecting your property and to stop the repossession of your vehicles.

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