Bankruptcy, Asking Questions, and What if they Repo Your Car?

July 9, 2010 - PRLog -- When coming to your Bring Back appointment it is important to follow the instructions that were given at the initial consult appointment. Bringing all information required is very important, especially when the clients need to file as quickly as possible. It is also important to take careful notes on any questions that may arise when filing. One can then ask the paralegals to answer their questions when the paralegal calls to confirm the appointment. There is nothing wrong with having questions. A better understanding of the packet will help out in the long run. Bankruptcy can come across as gibberish to some people, and that is alright. We are here to help make the process as smooth as possible for everyone. So remember- it never hurts to ask questions!

What do you do when you become delinquent on your car payments, and they are now at your house to pick up your car, but you won’t give it to them? You can hurry up, and get to an attorney to file bankruptcy. If you want to keep your car, it would be better to file a Chapter 13 and put the vehicle through the plan, as long as it is a purchase.

If you run into a situation that causes you to become delinquent on your car, you may want to consider talking with an attorney to see what options are available to you. If you want to buy time, you can file a chapter 7 bankruptcy and surrender your interest in the vehicle, but if you are really attached and want to keep it, you will want to file a chapter 13. The chapter 13 will allow you to reorganize and pay back the creditor through the plan. This will allow you to keep the vehicle and make payments to the Chapter 13 trustee each month. It is very important that you keep full coverage insurance on the vehicle during the bankruptcy process. If you do not the creditor can file a motion to lift the stay that is on the vehicle and try to get it once again. If we go into agreement to prevent such an action, then they will give you two notices of default, and after that you are out of luck and will have to turn the vehicle back over to the creditor. Now if you follow the guidelines as they have been set forth, then you will not have to worry about this process.

For more information visit http://www.bankrupcy-alternative.com/information-help.html or call us directly. Here is another bankruptcy article http://www.prlog.org/10784814-bankruptcy-chapter-7-and-re... and here is another one http://www.prlog.org/10784826-bankruptcy-why-all-the-pape... for your reading enjoyment.

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