Maida Law Firm, P.C. Articles Are You being Threatened with Repossession from Creditors?

Are You being Threatened with Repossession from Creditors?

By Maida Law Firm, P.C.  Aug. 19, 2013 2:56p

When an individual purchases an item such as electronics, a car, home or pretty much any property through a loan or line of credit then that item is subject to repossession if the buyer is unable to keep up with payments. The repossession of a car or home can be devastating for an individual or family overwhelmed by debt who now must contend with finding somewhere else to live or figure out how to get to work, transport children to school, etc. If you have found yourself in this position—either being threatened with repossession by angry creditor collectors or have had your property taken away—talk to a bankruptcy attorney skilled in handling cases involving repossession immediately.

Is it possible to regain my property after repossession?

There are several options available to those who have had their home foreclosed upon or had their car or other property repossessed. You may be able to get it all back if the proper legal actions are taken rapidly. Chapter 13 bankruptcy protection, for instance, is a solution for many that can help an individual or family turn their financial situation around and get back to solvency. Once you are granted bankruptcy protection then all creditor collection actions must cease and it is very likely that you will be able to get your home or car back. Chapter 13 helps people get rid of qualifying debts through a payment plan over three to five years. One of the first steps of this process is negotiating with creditors and loan holders to achieve a lowered balance. Then the monthly payment plan is worked out which makes it possible for the debtor to regain control and actually pay off debts. Certain debts such as student loans and tax liabilities cannot be handled through Chapter 13 bankruptcy but these payments may be much more manageable once other debts are negotiated. Don't lose hope! An attorney may be able to help you with your situation!

Bankruptcy Lawyer for Houston Repossession Cases

Whether you are trying to get your property returned to you after a repossession or see repossession on the horizon, a lawyer at the Maida Law Firm, P.C. may be able to help you. We have successfully fought for clients who find themselves in desperate situations. From foreclosure defense to putting an end to creditor harassment, we are passionate about getting a swift, positive outcome in every case we take on. Contact our law offices right away to schedule a free initial consultation!

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