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Bankruptcy Attorney On Car Repossession

Car repossession can take place either involuntarily or voluntarily. However, before going for the forced repossession, a voluntary approach must be primarily observed. Observing this process will be in accordance with the limitations set up by the state, especially when the creditor is considering selling it in public or private. In any of these aspects, the services of a bankruptcy attorney in car repossession will be most helpful.

In performing car repossession, there are certain rules that must be followed. A notification of your lapses in the payment must be sent out by the creditor. This is stated so in the law so if he did not do this, there is a violation of the car owner’s rights. In this kind of situation, the bankruptcy attorney on home repossession will be of great assistance. Moreover, before a repossessing could take place the member must sign a repossession form acknowledging that the said repossession has taken place with his consent for the reason that he was not able to go along with the terms of the sale. If the creditor is successful in repossessing the car, it is now his right to keep or sell the car by a private or public sale.

Also in the event that the creditor has succeeded in repossessing the car, he should send a notice that states the estimated value of the car. You will be given several days to get the amount in order to have the car back. If the given number of days elapses without any action from you, the creditor now has the right to dispose of the car as he pleases.

Car repossession is subjected to some limitations and if any rules are violated, your creditor may lose other rights against you, or even be required to pay you damages. If any violation happens a bankruptcy attorney on car repossession can help you fight for your rights. You can file for a damages suit against your creditor for a deficiency in judgment.

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