Stopping a Repossession
Stopping a Repossession of a vehicle can easily be done with the filing of a Chapter 13 Bankruptcy. The reason for the repossession is usually because of failure to make timely payments on the vehicle. Which if your not making those payments your probably not making payments on the credit cards and maybe on your mortgage.
The Chapter 13 Bankruptcy is a plan that runs up to five years, in the plan your car lender will receive their money from the Trustee. Which because the plan can run up too five years this will lower your car payment making the vehicle more affordable. The credit card will only receive money if you can afford to pay them with disposable income. At the end of the five years you will receive your car title and a discharge of all money still owe to the credit cards.
If your car has already been repossessed or you are running behind you should talk to a Bankruptcy Attorney to see how the chapter 13 can help you.
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