I see many clients, as an Orlando bankruptcy lawyer, who are concerned about one thing and one thing only: stopping a repossession of their car, which is usually their only means of getting to and from work. Understandably, keeping the car is the top priority.
Filing bankruptcy stops repossession. It's that simple. What's not always so simple is keeping the car after the bankruptcy is filed. It can be done, of course, and as an Orlando bankruptcy lawyer I do it for my clients all the time. The key is meeting with you, asking the right questions, and then developing a plan you're comfortable with.
For example, if you are behind on your car and facing an imminent repossession of the car, perhaps filing a Chapter 13 is the best course of action. On the other hand, maybe you're current with your payment but you know you can no longer keep up the payment. In that case, maybe filing a Chapter 7, holding on to the car for a couple more months without making a payment, and then surrendering it through the bankruptcy while eliminating the debt is the better route.
Either way, meeting with me is the first step. When you are ready to find out how I can help you avoid repossession, please contact me, an experienced Orlando bankruptcy lawyer, and we'll figure it out together. 352-432-7003.
Let's say your car was already repossessed and now you get a letter saying you owe lots of money on it. How can you owe money on a car you don't even have anymore? Well, first, there's no such thing as a"voluntary repossession" where you give up the car and don't owe anything.
Instead, when a car is repossessed for non-payment it is sold at auction, the proceeds from the sale are applied to the balance owed, and whatever is left over (the deficiency balance) is what you owe to the creditor.
Put simply, Filing bankruptcy eliminates that liability.
Ok, you probably already knew that filing bankruptcy stops repossession. But, did you also know that through bankruptcy you can shave off a lot of money on your car loan?
In a Chapter 7you may be able to Redeem the car. In other words, you only have to pat the market value of the car, the rest of what you owe is eliminated.
In a Chapter 13 you can do essentially the same thing if you bought the car over 910 days before you filed the bankruptcy. Also, in a Chapter 13, you can drastically reduce the interest rate on your car loan.
I look forward to guiding you through the decision making process involved in not only stopping a repossession of your car, but helping you save money on the car loan in the process.
When you're ready, call me, an experienced Orlando bankruptcy lawyer 352-432-7003 or send me an email with your questions.
At my Orlando Bankruptcy Law Firm of K. Hunter Goff, P.A. I limit my practice to helping people file bankruptcy and receive protection from creditors under Chapter 7 and Chapter 13 of the United States Bankruptcy Code.
Over the years, bankruptcy has evolved into a specialized area of law. I take pride in knowing how the Orlando Bankruptcy Judges, Trustees, and Creditors' Attorneys interpret the Code. I use this knowledge to ensure that my clients know what to expect when they file for bankruptcy. I take a non judgmental approach to the decision my clients make to file for bankruptcy.
I understand that you probably have tried every other possible financial alternative before deciding to contact an Orlando bankruptcy lawyer. Please allow me, an experienced Orlando bankruptcy attorney, to show you how I can help you by calling 352-432-7003, for your free case evaluation.