Stop Repossession Attorney in Columbus, OH
Repossession often comes up in bankruptcy conversations. People swamped with medical bills, credit card debt, or other loans live in fear that the repo man will take their stuff. Sounds scary, doesn’t it? This is where a stop repossession attorney in Columbus, OH, comes into play.
Repossession is the act of a creditor taking a debtor’s property that has been promised as collateral for a loan. The most typical items repossessed are vehicles. You can stop repossession with the help of a skilled Columbus bankruptcy attorney.
Get legal help to stop repossession with an attorney from Sheppard Law Offices. The law firm provides its clients with a free consultation to help them get their legal troubles straight without shelling out a lot of money. A bankruptcy attorney from Columbus can walk you through any bankruptcy issue you might encounter. Schedule a free consultation with an attorney from Sheppard Law Offices right now.
Why do I need a Repossession Attorney in Columbus, OH?
If you’re already bankrupt, behind on your dues, and facing repossession, getting legal help might be the last thing on your mind. After all, legal help usually means more fees, right? Well, Sheppard Law Offices offers free consultations for its clients. An experienced stop repossession attorney in Columbus, OH, can help you get out of your sticky situation.
Sheppard Law Offices has three offices across the state of Ohio, from Columbus to Mount Vernon, right down to Newark, ready to service you. The attorney can review your case and determine the best possible course of action to put a stop to creditors who are after your possessions. We can also provide you with sound legal advice on repossession and bankruptcy law, together with helping you file bankruptcy to save your valuable assets.
Stop repossession right now with the help of an attorney from our esteemed law firm. The law office houses an attorney who can take a more personal approach to your individual case and ensure you get the best outcome possible. Schedule a free consultation with a stop repossession attorney from Columbus, OH, right now.
What is Repossession?
Repossession is when the creditor possesses or takes personal property after the owner fails to pay their dues according to the contract. This is typically seen in mortgages and vehicle loans. Repossession rights are created by contract and exist in various transactions. Creditors can repossess property since they are secured creditors.
Creditors can immediately start the repossession once the account becomes delinquent. The creditor gets in touch with a third-party service that will be responsible for capturing the property and selling it to pay off the debtor’s balances. A creditor does not need a court order to begin repossessing property.
If you are facing repossession, stop it with the help of a Columbus attorney who can provide you with legal advice, guide you throughout the repossession process, and ensure that you get debt relief together with the best outcome possible. Call us today to discuss your case!
What Items Can Be Repossessed?
Many think that only vehicles are subject to repossession, but other items can also be repossessed to pay off the outstanding debt, including:
- Real estate
- Jewelry
- Rent-to-own furniture
- Tangible assets
Real estate repossession happens when an individual defaults on home loans. The lender repossesses the home if the owner cannot make payments, and this process is known as foreclosure.
How Can I Avoid Repossession?
No one wants to lose the things they worked so hard to get. There are steps you can take to avoid repossession. Here are the steps you can take:
File for Bankruptcy
A bankruptcy filing is one of your best options in stopping repossession. Once you file, the court orders an automatic stay. This order prevents all collection acts, including collection calls, lawsuits, and, you guessed it, repossession!
If you do not wish to keep the car, a Chapter 7 bankruptcy is advisable. Chapter 7 bankruptcy allows you to discharge the remaining amount you owe on the vehicle. You won’t be able to get it back, but you can file for bankruptcy and get a new one in a few months.
As for Chapter 13 bankruptcy, this kind of bankruptcy allows you to get your car back in a couple of days since Chapter 13 bankruptcy sets you up on a payment plan with the court. It requires you to make one monthly payment to the court, which would then make the payment on your behalf.
Make Up Late Payments
Depending on the agreement you have, you can still make up for the late payments. Even if you are late, the loan might not be in default unless there is a declaration on the end of the creditor in writing. If the payment is not yet in default, you can bring the loan current to head off a repossession. Make sure to include all late fees when you make up late payments.
Reinstate the Loan
You have the right to reinstate the loan to prevent a repossession. You do this by paying until the account becomes current, all in one lump sum. This is called the right to cure the default.
Negotiate with the Creditor
You can talk to your creditor about what you can do. Here are some options you can consider:
- Offer to sell the vehicle yourself, especially if you can get more value than the creditor if they sold it themselves.
- Surrender the car in exchange for reducing or waiving the deficiency.
- If the creditor has violated your rights, you can use this to negotiate a more favorable outcome.
It can be daunting to stop repossession alone. If you don’t know what you’re doing, you may end up losing more than what you would have. It’s still best to consult a Columbus attorney before making any move to get the best legal advice and help you take legal action.
Call our Stop Repossession Attorney Now!
Repossession can be plenty stressful for those involved. The thought of losing a prized possession is truly daunting, but sitting around worrying won’t solve your problems. Pick up that phone and call Sheppard Law Offices today!
An experienced repossession attorney can help put a stop to the repossession you’re about to face by employing legal strategies that are sure to give you the best outcome possible. An attorney is always ready to help, whether home or car repossession.
A bankruptcy lawyer can walk you through the process, provide sound legal advice, and offer quality representation, guiding you towards the best course of action to achieve a favorable outcome.
What are you waiting for? Schedule an appointment with a Columbus stop repossession attorney right now.
