Car Reposessions Attorney in Monmouth Ocean County NJ

Car Reposessions

You've finally been able to save enough for that down payment and now have the ability to actually buy the car of your dreams. Or, maybe you have just been able to buy a vehicle to tide you over until you can get that car of your dreams. The car lot runs your credit and approves you to drive off of the lot TODAY with your car. But, can you really afford this additional monthly payment. You hope so.

As time passes, you start struggling with the monthly payments. Do you just start failing to make the monthly payment? Do you then start worrying about the car being repossessed? Should you contact the Lender to determine if you can reframe your loan? Should you look to voluntarily surrender your vehicle? What is the best avenue to follow?

Please note that you can certainly contact your bank while you still have the vehicle to attempt to negotiate a different payment plan and the lender may even consider refinancing the car loan if it feels you are indeed able to pay this time. However, in most instances it is better to have someone other than yourself negotiate an acceptable resolution. If indeed your car has been repossessed, you may be able to have the loan reinstated under new terms and conditions with the Lender's approval. This office will work with you to attempt any viable solution to either help you keep your car or determine to surrender it.

However, remember if the Lender is not willing to work with you, let us review all of your financial information to determine if bankruptcy is a workable option for you and assess if there is any way you can retain your car and get better control of all of your debts. Depending on your goals and if you reorganize your debts in a Chapter 13 bankruptcy, you will have three to five years to repay an amount that the federal Court determines from your actual submitted financial information. You will then be able to have a fresh start and hopefully move forward with more financial knowledge to help you in the future. Imagine the sigh of relief you will have when you once again gain control. This often is not easy, but nothing worthwhile is ever easy. Learn how to retrieve your financial good standing and let us help you meet that goal!

Board Certifed Bankruptcy Representation
Free Consultation - 732-681-6800

Mr. Cerbone is Board Certified Bus. Bankruptcy Attorney - American Board of Certification