Car Repossession Crisis, people are going broke: Here’s your options.
There are a few ways to get a vehicle back after repossession
- Lender may voluntarily return the vehicle if repossession was illegal
- Paying the "reinstatement" amount of the loan can get the vehicle back
- Filing for Chapter 13 Bankruptcy immediately returns the vehicle
- Suing the lender or repo company is an option if rights were violated
- To stop a vehicle from being repossessed, one can object to the repossession or demand a court date
- Filing for bankruptcy or refinancing the loan are other ways to prevent repossession
- Negotiating payment arrangements with the lender is also an option and…
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