Can debt collector repo my vehicle?

Feb 24, 2011

Can Debt Collector Reposess Vehicle
by: Debtcollectionanswers.com

Whoever has a lien on your vehicle is entitled to repossess it if you fall behind on your payments. Typically this is the company that financed the purchase of the vehicle. However, if you borrowed money, secured the loan with your vehicle, and then defaulted on the loan and the lender turned your account over to a debt collector, the debt collector could initiate a repossession.

If you are concerned that your vehicle is going to be repossessed, I strongly advise that you get in touch with a bankruptcy attorney right away because a repossession can happen very quickly. It's especially important to schedule this meeting immediately if you need your car to get to and from work. Click here for a free consultation with a bankruptcy attorney

Filing for bankruptcy will stop a repossession and give you time to decide what to do about your financial situation. The bankruptcy attorney can also help you figure out if there is some other alternative besides bankruptcy that would help you avoid the loss of your vehicle.

Good luck resolving your problem!

Can debt collector repo my vehicle?

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Can debt collector repo my vehicle?