Will You Lose Your Car?
Helping You Keep Your Vehicle in Bankruptcy
Having a car is essential for most Americans. When people are thinking about bankruptcy, one of their primary concerns is keeping their vehicle. It might reassure you to know that most people who file bankruptcy are able to keep their car. In fact, in bankruptcy, oftentimes we are able to reduce a car’s value to fair market value and force the lender to accept the payments through a Chapter 13 bankruptcy repayment plan. As a result, your monthly car payments can be significantly reduced.
At Resnik Hayes Moradi LLP , we understand you need transportation to and from work, as well as for running errands and other purposes. That’s why our lawyers are dedicated to helping people filing Chapter 7 and Chapter 13 bankruptcy find the debt relief they need while retaining their cars. For more detailed bankruptcy information tailored to your unique situation, call our office at (213) 344-0043 to schedule a free consultation.
California Bankruptcy Exemptions
The Bankruptcy Code is designed to help debtors, not punish them. As such, bankruptcy law protects certain property classified as exemptions. Generally, a petitioner is allowed to retain a car as an exemption.
Bankruptcy Attorneys Stopping Car Repossession
If you are behind on your car payments, the lender has the right to repossess the vehicle. However, when you file either Chapter 7 or Chapter 13 bankruptcy, the court issues an automatic stay. This freezes all repossessions, giving you time to catch up on missed payments. Even if your car was recently repossessed, filing bankruptcy can help you get it back — and get it back fast.
If you file Chapter 7, you may be able to retain your car if you make timely payments. Under Chapter 13, you may be able to keep your vehicle by paying the creditor the value of the car rather than the full amount due on the debt.
We Are on Your Side
For answers to all your bankruptcy questions, including repossession and reaffirmation agreements, count on Resnik Hayes Moradi LLP . Our bankruptcy attorneys have helped thousands of clients overcome financial problems and get back on track.
Contact our firm to arrange a complimentary consultation with a bankruptcy professional who understands how important it is that you retain your vehicle.
From our offices in Los Angeles and Sherman Oaks, we serve clients in Los Angeles, San Fernando Valley, Riverside, San Bernardino and Orange Counties. Payment plans are available.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Without the support of pro bono attorneys we couldn't do all the work we need to do, and your firm in particular is outstanding.- Skip K.
Was very impressed with the comprehensive professionalism of the firm...- G.L
He not only saved my house but also got rid of all my debt. They are not your typical attorneys and their creativity really allowed me to do things that other attorneys never mentioned in previous consults.- David K.
He negotiated on my behalf with a credit card company and was able to settle with them for much lower than I could have on my own.- Kelly S.
I cannot thank them enough for helping save my home. I would recommend them for anyone that is thinking about filing for bankruptcy or foreclosure on their home.- Joseph R.