Unexpected Benefit: Get Back Your Just Repossessed Vehicle

Wasson and ThornhillVehicle Loans

File bankruptcy before your lender takes your vehicle. But if you couldn’t, bankruptcy may still get back your just-repossessed vehicle.   When Does a Lender Repossess a Vehicle? When CAN a vehicle lender repossess your vehicle? Just about all vehicle loan contracts let the lender repossess the minute you are late on a payment. There may be a legal grace … Read More

Get Some Time to Change to Another Vehicle with Chapter 7

Wasson and ThornhillVehicles & Bankruptcy

When you’re facing a vehicle repossession, a Chapter 7 case prevents that and gives you a  few weeks of peace to get another vehicle.   A week ago we went through a list of ways Chapter 7 buys you time with your vehicle lender. Included was that it “gains you some time to get another vehicle before surrendering your present … Read More

Chapter 7 Gives You Time to Redeem Your Vehicle

Wasson and ThornhillVehicle Loans

Prevent repossession and then redeem your vehicle by paying what it’s worth instead of what you own, so that you own it free and clear.   Two blog post ago we went through a list of ways Chapter 7 buys you time with your vehicle lender. Included was that it buys “time to gather funds to redeem your vehicle for … Read More

Chapter 7 Stops Repo for Lapsed Vehicle Insurance

Wasson and ThornhillVehicles & Bankruptcy

Chapter 7 prevents repossession for lapsed vehicle insurance, but only briefly. You still have to insure your vehicle again quickly.     Our last blog post went through a list of ways Chapter 7 buys you time with your vehicle lender. Included in that list was that it gives you “a very limited time to reinstate required vehicle insurance.” This … Read More