Stop Repossessions in Seattle

Falling behind on car payments can result in your car being repossessed by the lender. Other financial problems are often a precursor to car loan repayment issues, because most everyone in Seattle needs a vehicle to get around. Few things are as embarrassing as having your car repossessed, but you can take steps to avoid this end result with help from one of our Seattle repossession attorneys.

If you're living in fear that your car could be repossessed at any moment, it may be time to consider bankruptcy as an option. While many people feel like petitioning the court for bankruptcy is a last resort, the truth is that it can provide you with a fresh financial start when you need it most.

If you can't live without your car, contact a bankruptcy lawyer from our King County law office today and find out how to prevent a repossession.

• Your car can be repossessed by the loan company as long as they don't breach the peace or take it from a locked garage
• Repossessed automobiles are sold at auction, but if a balance on the loan remains, the borrower is responsible to pay for the balance
• Filing for bankruptcy in Washington State discharges any loan deficiency on your car and stops repossession dead in its tracks
• Chapter 13 bankruptcy provides a long-term solution to car repossession, but filing for Chapter 7 may give you enough time to catch up on payments

Filing for bankruptcy in Washington State stops the threat of repossession immediately. If a creditor repossesses your car after your bankruptcy case is filed with the US District Court, they are required to return it. This is of vital importance to anyone that relies on their car to get to work, pick up kids from school, or simply buy groceries at the supermarket.

If you've fallen behind on bills, missing a car payment or two can put your finances into a death spiral. This can cause you to miss another payment, which is often all it takes for a car finance company to pursue repossession. It may be possible to get a car back after it's been repossessed but there are no guarantees, and the vehicle may come back damaged or missing your personal property.

Obviously, filing for bankruptcy before a car is repossessed makes good sense, but our Seattle repossession lawyers can help you no matter what your current situation.

Filing for Chapter 7 bankruptcy isn't a long-term solution to car repossession, but it can free up money from other places that makes it possible to get caught up on your car payments. If your car has already been repossessed and you file for bankruptcy, the loan company may want you to sign a reaffirmation agreement before returning your car. You should weigh this option carefully and make the best choice based on your overall financial situation, which is something our Seattle bankruptcy lawyers can help you determine.

Chapter 13 bankruptcy allows you to consolidate your debt, making it far easier to keep your car, or even get it back after repossession. By spreading payments out over a five year period, you can significantly lower your monthly costs, and it may even be possible to reduce the overall amount you owe.

If you're worried about high-value items in your home like appliances and furniture being repossessed, your worries are likely unfounded. It's expensive for creditors to repossess these items, so it's usually not worth their effort.

If you want to stop your car from being repossessed, or get your car back after repossession, contact one of our professional bankruptcy lawyers in Seattle today for help.