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Wall, NJ Repossession Lawyer Help Fighting Repossession in Wall, Toms River, or the Surrounding Areas
If you have fallen behind on the payments for your car, furniture, or other property obtained through a loan, you likely are under stress. Going into default on these obligations can occur for a variety of reasons, many of which may have been out of your control.
These can range from:
Job loss to reduced hours at work
An expensive divorce
Or other situations
Providing Business Debt Relief for 25+ Years
Regardless of the reason, serious consequences can ensue when you default on payments owed to the bank, finance company, or credit union that holds your loan.
These entities then have the right to repossession of your car or furniture or the collateral involved. At Cerbone Law Firm, we have more than 25 years of experience helping clients facing such consequences.
We can advise you on debt relief options, including bankruptcy and other alternatives. We understand how frightening and stressful it can be when you can no longer meet your financial obligations and may be hounded by creditors.
We urge you to consult with our highly experienced attorney for the help you need. Our goal is to assist you in working out a positive strategy for handling your debts and avoiding repossession where possible.
We are dedicated to providing you with solutions to your debt problem and to your future financial success.
Repossession Laws in NJ
In some loan agreements, a grace period may be available that allows you to get up-to-date on the default.
During this time, you may also contact your bank to negotiate an alternative payment plan that may involve better terms, such as:
Lower interest rate
Extended time frame
Or other arrangements
The lender may even reconsider refinancing if it feels you are indeed able to pay or if your payment history was good for a long while prior to your current financial problems. Because the repossession process can be expensive and lengthy, lenders may be willing to negotiate in creating other options.
In such circumstances, it is often better to have someone other than yourself negotiate an acceptable resolution, such as Cerbone Law Firm. If your car or other property has already been repossessed, you may be able to have the loan reinstated under new terms and conditions with your lender’s approval.
Our firm will work with you to attempt to develop any viable solution that could either help you keep your car or property or determine to surrender it. It is important to remember that it is not wise to attempt to interfere with a repossession that has a legal basis, as your default is considered to be a violation of your loan contract.
What To Do if Your Lender is Unwilling to Negotiate
If your lender is not willing to work with you on negotiating the matter of your defaulting payments, we strongly urge you to let us review all of your financial information. That way, we can determine if bankruptcy is a viable option and assess if you can retain your car or property and get better control of your debts.
Under a bankruptcy filing, the court will issue an automatic stay that prohibits your creditors from contacting you regarding what you owe. This can stop repossessions and give you a grace period in which to explore your options.
Under certain circumstances, you may be able to keep your vehicle or secured property after filing for bankruptcy. This is generally done by curing your default or by signing a reaffirmation agreement, which reaffirms your responsibility for the vehicle/property and the payments it requires.
You must be able to determine that you can afford the payments to remain in possession. Depending on your finances and your goals, you may opt for a Chapter 13 bankruptcy, which will give you three to five years to reorganize your debts.
Get the Help You Need Concerning Repossession Today
Various options may be available to you when facing repossession. At Cerbone Law Firm, we can assess your situation, advise you on potential solutions, and provide the legal advice you need to make informed and intelligent decisions. Let us apply our years of debt relief experience to your situation by contacting us today.
We Are Committed to Finding the Best Solution
We promise to give you the same advice we would give to a family member.
We Care About Our Clients
Our compassion for our clients and commitment to see them succeed is the driving force behind our practice.
We Have Over 25 Years of Experience
Over those 25 years, we have experienced it all and have learned how to have fun doing it!
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