Plymouth Repossession Lawyers Helping Clients Protect Their Property
Most people in Massachusetts rely on their vehicle to get around town. If you rely on your personal vehicle for transportation, it’s important to continue making monthly payments to ensure it doesn’t get repossessed by the lender. But if you are experiencing financial hardship, this may be impossible. Fortunately, help is available.
If you are at risk of losing your vehicle, contact the repossession attorneys at Benner & Weinkauf right away to discuss your case. Don’t give up hope without talking to our team first. There are always ways to stop repossession–explore your legal options with us today.
When Can A Vehicle Be Repossessed in Plymouth?
If you financed a vehicle, it’s important to understand when the lender has the right to repossess it. In Massachusetts, if you purchased a vehicle, the lender must notify you prior to repossessing it. However, if you have leased a vehicle, the lender does not need to notify you in advance.
A lender cannot send you a notice warning you of repossession until your payment is at least 10 days past due. This notice must tell you how much you owe on the vehicle and the date that this payment is due. Once you receive the notice, you will have 21 days to make the payment and avoid a repossession.
How Can You Stop Vehicle Repossession?
If your lender is threatening to repossess your vehicle, filing for bankruptcy can help you protect your property. Filing for bankruptcy will trigger what is known as an automatic stay, which is a temporary order that prohibits all debt collection activities. This order will temporarily prevent lenders from repossessing your vehicle. However, this will only temporarily prevent the repossession of your vehicle.
The best way to keep your vehicle is to file for Chapter 13 bankruptcy. If you file for Chapter 13 bankruptcy, you can incorporate your missed payments into your repayment plan. As long as you comply with the terms of this repayment plan, you will be able to keep your vehicle after your bankruptcy case has closed.
Bankruptcy isn’t the only option. If you are unable to make payments on your vehicle, our attorneys may be able to negotiate with your lender to secure more favorable terms on your behalf. Extending the term of the loan, reducing the principal amount, or postponing payments can make it easier for you to manage your payments and protect your vehicle from repossession.
It’s important to act quickly if you are at risk of losing your vehicle. The sooner you contact Benner & Weinkauf, the sooner we can begin protecting your rights and fighting to avoid repossession.
Schedule A Free Strategy Session With Our Repossession Attorneys in Plymouth
Are you at risk of losing your vehicle? If so, seek legal representation from the repossession attorneys at Benner & Weinkauf as soon as possible. Our skilled lawyers have helped countless clients fight lenders in order to protect their rights and their property. Now, let us put our experience and resources to work for you.
Schedule a free consultation regarding your case by calling 774-404-8321 or submitting your information using the form on this website.