Worried about your car? Filing may stop a repossession.
Filing generally stops a repossession, and Chapter 13 may let you catch up on payments and sometimes lower what you owe. Mack & Associates, LLC helps Kansas drivers from offices in Topeka, Leawood, Wichita and Dodge City.
If your car was just taken, call us today. Lenders can sell quickly.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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Let’s look at your car loan
Answer a few quick questions. Each answer shows why it may matter for your situation.
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Has the car already been repossessed?
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Are you behind on the car payments?
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Do you need the car for work or family?
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Did you buy the car more than about two and a half years ago?
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Is your interest rate high?
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Do you owe more than the car is worth?
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Did someone co-sign the car loan?
For your own initial review only. These questions simplify complicated rules and aren’t legal advice or a substitute for a full review of your situation. For advice, contact our office to speak with an attorney.
Not your main worry? See whether Chapter 7 or Chapter 13 may fit
What filing may do
Every situation is different. These are common ways bankruptcy may help, depending on your facts.
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Stop a repossession
Filing generally triggers the automatic stay, which stops a lender from taking the car.
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Ask for a car back
If the car was taken but not yet sold, you may be able to ask the court to order it returned.
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Catch up over time
Chapter 13 may let you repay missed payments over the life of the plan.
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Possibly lower the balance or rate
For older loans, the balance may be reduced toward the car’s value, and the rate may sometimes change.
For general information only. This isn’t legal advice for your situation. For advice, contact our office to speak with an attorney.
Can I get my car back after it’s been repossessed?
Sometimes. If the car hasn’t been sold, filing may stop the sale, and the court may order the lender to return it, usually with proof of insurance and a plan to pay for it. The lender doesn’t have to return it on its own, so acting quickly matters.
Will I have to give up my car in Chapter 7?
Not necessarily. Kansas exemptions may protect some or all of your equity in a vehicle. You generally need to be current on the loan and may need to agree to keep paying it.
How fast do I need to act?
As fast as you can. Lenders often move to sell repossessed cars quickly, and filing before a sale gives you the most options.
Talk with a bankruptcy attorney
A free consultation may help you see whether Chapter 7, Chapter 13 or another option fits your situation.