Repossession typically refers to a creditor who takes property back due to a failure to fulfill the terms and conditions of the sales or lease agreement. In some cases, the item is sold to cover the debt. If the amount made from the sale fails to cover the debt, the debtor can be sued for the difference. The property recovered in these cases usually includes cars, boats and equipment. (When it comes to cars, the creditor retains the rights until the last payment is made on the car loan.)
Financial problems aren’t always due to overspending – divorce, health issues and other unexpected problems can trigger unmanageable debt. If this has happened to you, it’s crucial to contact a lawyer at Engel Law Group, P.S. We’ll work with you to help stop repossession and devise a plan that will help you back onto the road to financial recovery.
Some Of The Procedures Involved In Repossession Can Include:
Whether you chose bankruptcy or another option to resolve your financial problems, we can ensure that your rights are protected under the law and prevent creditor harassment. The legal counsel we provide is competent and is a result of years of experience and working with people like you to put an end to repossession.
Don’t face repossession alone, contact Engel Law Group, P.S., we’ll be there for you.