Can Bankruptcy Stop Repossession?
Yes. When you file bankruptcy, your creditors cannot repossess your car provided you agree to make payments. By filing Chapter 13 bankruptcy, your debt will be reorganized and reduced, and you will have the chance to repay that debt over a period of time.
Bankruptcy can also stop:
Wage garnishment
Lawsuits by creditors
Foreclosure
Other collection actions
My Car Has Been Repossessed. Can I Get It Back?
In most instances, if your car has been repossessed by a creditor, but has not yet been sold, you can get it back by filing Chapter 13 bankruptcy, but you must act quickly. Usually, creditors will hold the car for 10 days. If bankruptcy is filed before the creditor has resold the car, you should be able to get it back.
This post first appeared on King & King Law LLC, Atlanta Georgia Bankruptcy Attorney, please read the originial post: here