Are creditors threatening you with repossession? Are they knocking down your door? Schedule a free bankruptcy consultation with one of our Chicago car repossession lawyers to go over all of your options.
Most people choose to finance a vehicle with a loan in which they make monthly installment payments in exchange for allowing the car to serve as collateral. Illinois repossession law allows creditors to take possession of the car if the buyer has missed payments.
If the car has been repossessed, the creditor will set in motion the process of selling your vehicle. It is imperative that you speak to an experienced Chicago repo attorney immediately to help resolve your situation.
Some of your options may include:
Chapter 13 Bankruptcy: This will immediately halt repossession of your car or possessions and allow you to structure a payment plan in which you are able to catch up on missed payments and retain your car or belongings. Even if your car has been repossessed, we may be able to get it back. Do not delay contacting JRQ & Associates, LLC to discuss your situation with one of our experienced Chicago car repossession attorneys.
Chapter 7 Bankruptcy: If your car has already been sold and the financing company is pursuing the deficiency (balance owed after sale of the vehicle), Chapter 7 Bankruptcy may be a good option. It will discharge your liability and allow you to walk away debt free. There may also be ways to work out a way to reaffirm the loan or redeem its current value. Our experienced bankruptcy attorneys will walk you through your choices and help you obtain the best possible outcome.
Do not sit by as creditors harass you or repossess your car. Act NOW and set up a free bankruptcy consultation with one of the knowledgeable bankruptcy lawyers at JRQ & Associates, LLC to find out all of your options and help avoid, or ease, repossession related issues.