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How to Recover your Car when Repossessed?

Having your car repossessed can feel like a nightmare. This is an important possession that gets you to places. But there are options out there for those under such dramatic circumstances. Chapter 7, for example, can protect your vehicle from being repossessed. It will allow more time to help you negotiate with the lender. Contact a Salt Lake City repossession attorney to help you get your car back.

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How to Recover your Car when Repossessed?

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  1. How to Recover your Car when Repossessed?

  2. Car Repossessed can Feel Like a Nightmare Having your car repossessed can feel like a nightmare. This is an important possession that gets you to places. But there are options out there for those under such dramatic circumstances. Chapter 7, for example, can protect your vehicle from being repossessed. It will allow more time to help you negotiate with the lender. Contact a Salt Lake City repossession attorney to help you get your car back.

  3. Chapter 7 Bankruptcy If you don’t wish to have the vehicle back, Chapter 7 can help you eliminate your deficiency balance. However, Chapter 7 won’t be very useful if the car was already sold. This is why it’s important you file Chapter 7 as soon as possible as it will provide you with more opportunities to negotiate. The moment you file Chapter 7 bankruptcy, creditors will have to stop bombarding you.

  4. Getting your Car Back after the Bankruptcy You can negotiate with your lender since Chapter 7 wipes out your liability with your loan. They can go as far as modifying your agreement’s terms and lower your payments, balance, and interest. Just remember you will make yourself liable again. You can also choose to redeem your car. This means buying it back at a fair price.

  5. Chapter 13 Bankruptcy This is also an option. Chapter 13 will help you force the lender to give you back your car and you pay off in the coming years. It’s also possible to reduce the balance you own and interest rate. In Chapter 13 you have to prove that your income goes to paying your debts. In other words, if you own a lexus, Chapter 13 may not be a good option for you.

  6. You Rather Lose the Car If the lender threatened you or used physical force in order to repossess the vehicle or if the sale of your car was not reasonable, you may have a claim against the lender. For more information about how you can get your car back with the help of a Salt Lake City repossession attorney, call us today and schedule your evaluation. initial case

  7. Find Help from Attorney Even if you don’t want your precious possession back, Chapter 7 can still be helpful. After your car is sold out, the lender will bombard you with calls if the loan balance was not covered. The unpaid balance or deficiency can be erased with Chapter 7.

  8. Contact Law Firm Justin M. Myers, Attorney-at-Law, LLC South Jordan Law Office 1122 W. South Jordan Pkwy. Suite A South Jordan, UT 84095 Phone: 801-505-9679 Website: https://www.jmmlegal.com/contact/

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