If you’ve been threatened with vehicle repossession in New York, you’re not alone.
During COVID-19, New York’s economy is rougher than ever. Many honest, hard-working folks have either lost their jobs or have experienced a loss of household income. Every day, I personally speak to people who report that they can’t make their car payments and that they’ve started to receive phone calls from the Bank. They all have the same concern…
Losing your car means losing your livelihood.
But I don’t have to tell you that. Most of the people I speak with depend upon their cars and trucks to travel to and from work. Your vehicle may be one of your most important investments. Apart from using it to commute, you probably rely on it to transport your family from place to place. Maybe it’s a part of a small business. Plus, if you are anything like me, you might even use your vehicle as a long-term mobile storage facility…
Any way you look at it, your car or truck – along with everything you’ve stored inside of it – is too important of an asset to lose.
How can Chapter 13 protect my car from repossession? What if my car has already been repossessed?
A Chapter 13 Bankruptcy is guaranteed to put an immediate halt to any vehicle repossession, no matter how close it is to happening. In fact, Chapter 13 is so powerful that it can also empower you to retrieve your vehicle, even if it has already been repossessed! Chapter 13 can also be used to make your car payments more affordable by dramatically lowering the interest rate of your vehicle loan – and even reducing your principal loan balance…
So, you are saying that I can keep my car and lower my monthly payments? Really?!
Absolutely! And I never get tired of answering this question. My simple nod, “yes”, is often all it takes eliminate all the stress and worry that people suffer in the face of overwhelming debt. It’s truly the most rewarding part of my job.
You shouldn’t pay one penny more for your vehicle than you are legally required to. Period.
At Warner & Warner, PLLC, our goal is to negotiate the lowest car payment that you’re required to make under Chapter 13 Bankruptcy Law. Our job is to keep your hard-earned money in your pocket. You can rest assured in knowing that we take this job very seriously.
Still have questions about protecting your car or truck from repossession in Upstate New York?
Call (518) 451-9388 to schedule your Free Consultation Today!