Save Your Car
Freedom of mobility through car ownership is a way of life for most Americans. Public transportation may or may not be a viable option for you. Could you make do with buses, Uber or even bicycling and still get to your job on time every day? Like many other people, you may rely on your automobile to get to work, care for your family and otherwise live your life freely. Furthermore, you may have already invested thousands of dollars in your car. If your debt load, including your car loan, has become unmanageable, the prospect of losing it is devastating to consider.
The fear of repossession of your car may be holding you back from considering bankruptcy even in the face of crushing debt. Do not let your assumptions stop you from exploring bankruptcy as a debt relief option. Get legal advice so you can make the right decisions. Call the Law Office of April Perry Randle, PLLC, in Chattanooga, Tennessee, at 423-464-6908.
Restructured Debt In Chapter 13 Bankruptcy May Save Your Car From Repossession
In fact, bankruptcy could be the very thing that will help you keep your car. If you can handle the monthly restructured debt payments of a Chapter 13 bankruptcy, you may be able to:
- Keep your car
- Repay your auto loan arrearage
- Stay up-to-date on the remaining payments, manageably
Many people without detailed knowledge of bankruptcy assume that filing bankruptcy will mean losing personal property, such as jewelry, tools, their homes and their cars. The thought of having your car repossessed can be frightening, indeed. It can be a big surprise to learn that filing bankruptcy can be highly effective at bringing car loan problems back under your control – and keeping your car.
What If You Want To Let The Car – And Car Loan – Go?
Saving your car might not be your goal. On the contrary, you may want to let it go. You may prefer to be free of the car loan, car insurance, upkeep and operating costs. A Chapter 7 bankruptcy can be an efficient way to end all responsibility to pay more on a car you can no longer afford and do not want to keep. Your Chapter 7 bankruptcy filing may result in a discharge on many or all of your consumer loans, including your auto loan. In this case, repossession may take a load off your mind.
Talk To A Bankruptcy Attorney About Your Goals And Ways To Get There
Know all your options, make the right decisions and take action. I am bankruptcy lawyer April Perry Randle in Chattanooga, and I am here to help you figure out the best way forward when you are unable to repay your auto loan and other debts. Let’s talk it over. Call my Tennessee debt relief law firm at 423-464-6908 or send an email message to request a consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.