Stop Repossession

Repossession is a scary thing. No one wants to lose their car, TV, computer or personal property that they have worked so hard for. If you have not kept a loan current and the lender is threatening to repossess the property that secured the loan, filing for bankruptcy will stop the repossession process, but you must take action to protect your interest in the property. If you fall behind on your loan, the lender can repossess the property without notice. If you file for a Chapter 7 bankruptcy you can stop a repossession and keep the car as long as you stay current on your payments. If you file for a Chapter 13 bankruptcy, you can stop a repossession and you may be a to reduce your loan and payment to market value