Repossessions in Orange County
Protecting Your Property
If you are facing a difficult debt issue and are struggling to make payments
on your automobile loan, your vehicle may be subject to repossession.
By taking out a loan, the creditor still legally
has rights to your vehicle. Other financial difficulties can also lead to threats of repossession
of vehicles, tools or items bought on credit.
Repossession entails that a creditor will take back your property if you have
failed to make regular payments. If you have been threatened with repossession, it is absolutely essential that you
seek out the advice and guidance of our
Orange County bankruptcy attorney as soon as possible.
Will my assets be repossessed?
Creditors can only repossess certain types of property. In most cases,
individuals will take out a loan or open a line of credit solely to cover
the cost that specific item.
Usually these items are high-ticket pieces including:
- Stereo equipment
- Various Electronics
Creditors and other institutions will repossess the item in an attempt
to recoup the losses associated with your inability to pay for the item.
However, you are not freed from the debt, even after repossession.
Under California law, creditors are not required to give notice to repossess
property but only to give you a post repossession notice. This notice
details the steps you must follow to reinstate your loan or regain the
property. Failure to provide this notice can forfeit a creditor's
ability to collect any money from you.
Enlist the help of an experienced lawyer!
If your vehicle has been repossessed because of a difficult financial circumstance
and you are considering filing for bankruptcy, make sure you have a knowledgeable
bankruptcy attorney by your side. At 1
st California Law Inc., our goal is to help clients regain their financial
freedom and avoid any further stress associated with debt collection attempts.
You should never feel intimidated by a repossession threat. Our Orange
County repossession lawyers have a full understanding of the laws governing
this legal action. Let us provide you with solid
collections defense to confront your creditors and fight for your property–take action
to protect yourself today1
Contact our firm today to find out how you may be able to avoid repossession.