If you’ve gotten behind on car payments to the point where the car dealer is trying to repossess your car, you are probably scared and worried because you need your car to get to work, to doctor appointments or to get groceries. Maybe you are dealing with other debts as well, and things are beginning to get out of control. That is when it’s a good idea to consult with a bankruptcy lawyer who can empower you to deal with the situation proactively so that you can keep your vehicle. An experienced bankruptcy lawyer can help you make a plan to catch up on your vehicle payments or to negotiate with your creditors so that you can have more time to do so. In order to do this, sometimes bankruptcy can be a useful option.
Obtaining an Automatic Stay
When you file for any type of bankruptcy, this triggers what is called an “automatic stay”. This means that all calls and letters from creditors must cease, and the creditor for your car loan will be notified that you can keep your car. However, you will be expected to continue to make payments. The bankruptcy lawyer can negotiate with the creditors to possibly give you more time to make these payments or to make similar arrangements per the terms of the bankruptcy. Depending upon your income, you may be eligible for some type of payment plan. Even if your car has already been repossessed, it may be possible to get it back after filing for bankruptcy if the car has not been sold at an auction.
Call to Schedule a Free Consultation With a New York State Bankruptcy Lawyer Today
If you are behind on car payments and are worried about losing your car, call to schedule a free consultation with a Long Island bankruptcy lawyer today. At the Law Offices of Scott R. Schneider, we will evaluate your financial circumstances and help you to find the best possible option. We serve the towns of Long Island, Melville, Lindenhurst and surrounding Nassau and Suffolk County communities. Visit our website at https://nassaubankruptcyattorney.com or call us at (516) 433-1555 . You can count on us to give you legal advice you can trust.
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