Legal Options With Car Repossession in Ohio

Facing a vehicle repossession can make everyday living even more difficult.  Not knowing the time or place that your car may be repossessed can be devastating to the family especially when there are children involved.  It is important to understand that there are legal avenues available to you to resolve the matter.

What Happens to My Car When It Gets Repossessed?

When your vehicle gets repossessed, the creditor will usually contact you with a dollar amount you must pay in order to get the vehicle back.  The dollar amount is usually what you are in arrears plus other fees that they may add on to the balance.  If nothing is done, the car will be auctioned off.  The difference between what you owe on the vehicle and what they sell it for is the bill you will receive.  It is called a vehicle loan deficiency.

I Want to Get My Car Back From Repossession

There are a couple ways you can get your vehicle back from repossession.  You can pay the creditor the amount of money they are asking for or you can file a Chapter 13 bankruptcy.  Filing a Chapter 13 bankruptcy will get your vehicle back and help you get current on your payments curing the arrearages.

My Car Has Been Repossessed and I Don’t Want to Keep the Car

If you don’t want to keep the car, you will have to pay the creditor the vehicle loan deficiency.  Filing a Chapter 7 bankruptcy will eliminate the debt owed from a vehicle repossession.  Filing a Chapter 7 bankruptcy will also eliminate other debts such as credit cards, personal loans, medical bills, utility bills, items sent to third-party collections, debt owed from a foreclosed home, evictions, reinstatement fees, and attorney fees.

There are many legal options available by filing a Chapter 7 or Chapter 13 bankruptcy.  Filing bankruptcy will also stop a wage garnishment, foreclosure, sheriff sale, and utility disconnection. You can even get your driver’s license back from suspension or stop an eviction.  An experienced Columbus Ohio Bankruptcy Attorney can help you address any legal issues you may have and can take the necessary legal action when time is of the essence.

The Law Office of M. Sean Cydrus Can Help!

The friendly Law Office of M. Sean Cydrus can help you craft a plan to rebuild your financial future. We understand the stress of financial worry. We use a personal approach to solving your financial challenges and are here to help you through this difficult time. We pride ourselves on the ability to provide our legal expertise with compassion and understanding. We ensure that your rights are protected and that someone is looking out for your best interest. We can meet with you at our conveniently located offices in Columbus and Chillicothe. Call today for a free consultation. Help is one phone call away!