Car Repossession Proceedings

Many people in today’s economy are finding that they have bitten off more than they can chew, financially. You may have had an illness or injury that has affected your ability to work, you may have lost your job or may have had to take a pay cut just to keep your current position. When you get so far behind on your car payments, you have a high risk of a tow truck coming out of nowhere to take your car. Now, you have to pay a lump sum of money to get it back. Our Mississippi repossession attorney can keep repossessions from happening, and we can even get your car back if it has already been repossessed within 10 days.

More than 1.5 million people filed for bankruptcy last year to find relief from the constant pressure of being in debt. We have helped hundreds of people here in Mississippi wipe their slate clean so they can rebuild their credit and have a healthier financial outlook. We can help you too. Contact our Ridgeland bankruptcy attorneys at 601-202-9816 to schedule your free initial consultation.

Rollins Law Firm Mississippi Bankruptcy Lawyer

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Rollins Law Firm Mississippi Bankruptcy Lawyer


Stop Repossession

Seeing your vehicle being dragged away on the hook of a tow truck can be very disheartening, especially when you rely on it to get you to and from work, or for your job. Creditors don’t seem to have a lot of sympathy when it comes to the conundrum of “If I don’t have a car, I can’t make the money I need to pay you.”

If your car hasn’t been repossessed

If your car is in danger of repossession, then bankruptcy may be a good option and you should consult with a Mississippi repossession attorney. Filing a Chapter 13 bankruptcy will cause the automatic stay to go into effect. The automatic stay prohibits your creditors from taking any action to collect on their debt. Repossessions are included and all repossession efforts must stop once a bankruptcy case is filed. The automatic stay is designed to give you a breathing period so that you can get your finances in order. If you propose to pay for the car in a chapter 13 plan and you can afford the payment, then the creditor will not be able to repossess the car during your entire bankruptcy case as long as you keep the car insured and make your bankruptcy payments on time.

If your car has already been repossessed

Fortunately, you can sometimes get your car back by filing for bankruptcy. Finance companies have to wait 10 days before they sell your car or truck. If you contact us early enough within that 10-day window and start bankruptcy proceedings, we can stop the repossession process. If you wait past that 10-day window, we will usually be unable to retrieve your vehicle for you as it will have already been sold.

Vehicles that we have saved from the auction block include cars, trucks, motorcycles, boats, and recreational vehicles. One exception to this rule is for title loans. If you have a title loan on your vehicle, then bankruptcy cannot be used to get your car back after a repossession. If your car has not been repossessed, the bankruptcy will stop the creditor from repossessing it once the case is filed.

Call our experienced Jackson bankruptcy attorneys at 601-202-9816 or contact us online to learn more about how you can get your car back and get a fresh start.


Mississippi Repossession Law

Under Mississippi Repossession Law, an auto lender is allowed repossession of your car if you are late on the payments. Here, the word repossess means to take possession. Basically, the lender can seize your car without any warning or court order.

However, there are some limits to this law and you need to know them to protect your rights. One of the most stressful situations for anyone is the prospect of losing their vehicle. Especially in Mississippi, where public transportation isn’t a viable option. If you don’t have a car, you can’t get to work or to the doctor.

But the banks don’t care. They don’t have to wait until you are a few months behind to repossess your car. The banks are entitled to repossess your car even if the payment is just one day late. Lenders, on the other hand, are usually more lenient if you’ve fallen behind on the payment for the first time. In fact, you may even be able to go a few months before bringing it current.

But, in any case, you will be at the mercy of the lender. If they decide that they want to pick up the car they can! The lenders tend to be more aggressive if you have already defaulted in the past.