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How Can I Stop My Car From Getting Repossessed?

Posted on Thursday, February 25th, 2016 at 8:57 am    

Car-Repossession-300x225A car is a necessity in modern life. We need to go to work, school, and home, and few of us live in walking distance. Therefore, the prospect of a car’s repossession is frightening. Once you finance or lease a car, your car lender has certain rights and remedies that come with the contract you sign. One remedy allows the lender to repossess your car if you default under the terms of your agreement. Your contract will specify what exactly constitutes a default but common examples include failing to make your payments or not having car insurance. Although many car owners assume they have grace period before repossession begins, the contract usually allows for repossession at the time of default.  Some Northern Kentucky car lots, such as Limited Motors, report that they offer at least a three week grace period to car owners in default before repossession begins.  However, often car lots will not guarantee a grace period and choose to exercise their repossession right quickly.

What Steps Should You Take If You Default on Your Loan?

If you are in default on your car loan and cannot make an immediate payment in full, you’ll want to take a few easy steps to avoid finding your car missing one morning. Your car loan lender can usually repossess your car without giving you any notice as long as the repossession does not breach the peace. “Breach the peace” is an important term, and generally means they cannot do anything illegal, including “disturbing the peace” by creating an argument with you or “breaking and entering” by going into your garage to take the vehicle. Repo men generally take cars at night when no one is around so no breach of the peace occurs. If you are in default and know or suspect a repossession is going to occur, considering doing the following:

1. Keeping the car in a garage.

2. Parking the car a distance away from your house and place of work, where it will not easily be found.

3. Parking the car in your backyard, where it cannot be seen from the road.

4. Asking a neighbor or friend to keep the car at their home, under a tarp or other cover.

Under any of these scenarios, you make it less likely that a repossession will occur because you prevent the repo man from finding or accessing the vehicle.

Filing Bankruptcy Ceases All Collection Attempts

A bankruptcy can help you to stop the repossession and even get your car back after repossession. When you file bankruptcy, the automatic stay goes into effect, which forces your creditors to cease all collection attempts against you. This means that your creditors cannot call you, continue with a lawsuit, repossess, sell, or foreclose on your property. With a few exceptions, you are completely protected by the bankruptcy and creditors must seek court permission before continuing their collection efforts.

If you are facing a repossession, you must choose a Chapter 13 bankruptcy in order to save the car. Your best bet is to file bankruptcy before the car is repossessed – if you do so, Lawrence & Associates can print a proof of bankruptcy filing for you that will prevent the repo man from taking your vehicle. Even if the car has been repossessed, you can get the car back if you file a Chapter 13 bankruptcy before the car is sold at auction. However, the timing of the auction is always in flux, so it can sometimes be difficult to get a bankruptcy filed and get notice to the lender before the auction occurs.

Hire Lawrence & Associates and Stop Repossession

Do you think your lender may try to take your car soon and you cannot afford to get caught up on your car payments? A bankruptcy may be your best option to stop repossession. Call Lawrence & Associates today! We’re Working Hard for the Working Class, and we can help you!

Frequent Bankruptcy Question: Can I File Bankruptcy More Than Once?

Posted on Wednesday, July 1st, 2015 at 9:34 pm    

bankruptcyOur Northern Kentucky office regularly helps local families file bankruptcy a second or even third time. More than one bankruptcy filing is not only possible, it can be expected in certain circumstances. For example, if a client has significant tax debts and credit card debts and knows high payments in a Chapter 13 bankruptcy are likely, it might make sense to file a Chapter 7 to get rid of the credit card debts first, and then file a Chapter 13 to pay off the tax debts.

The issue many clients do not understand is that a certain period of time has to happen between bankruptcies before the second bankruptcy can result in a discharge, or before the second bankruptcy is even possible. Lawrence & Associates’ attorneys see many people who need to file a second bankruptcy, only to get frustrated when they are told they cannot get a discharge or that they will have to file a different bankruptcy than the kind they wanted. For that reason, we are offering the following general guidelines for potential clients so they have a rough guess as to the options available to them in a second bankruptcy filing.

Filing a Chapter 7 as a Second Bankruptcy

You cannot file a Chapter 7 if you filed a previous Chapter 7 within the past eight years in which you received a discharge. Similarly, you cannot file a Chapter 7 if you filed a previous Chapter 13 within the past six years in which you received a discharge. There is an exception to the six year rule if your prior bankruptcy either paid all the unsecured claims in full or plan payments in the earlier case were at least seventy percent of the unsecureds and the good faith plan in the prior case was the debtor’s best effort. You also cannot file a Chapter 7 if you have had a previous bankruptcy dismissed either voluntarily by you, or because a Kentucky or Ohio court ruled that you were in bad faith or violation of a court order.

Some rules for you to take away: If it has been more than eight years since you filed your bankruptcy, you are ok no matter what you file now. If it has been less than eight years, you need to determine both whether a bankruptcy is possible and whether a discharge is possible. The six year test has exceptions that rely upon the judgment of the court in each individual case, and it is in your best interests to get an experienced bankruptcy attorney, like those at Lawrence & Associates, who will be familiar with the way local courts lean on this subject.

Filing a Chapter 13 as a Second Bankruptcy

As a general rule, a Chapter 13 bankruptcy can be filed at any time after a prior bankruptcy. The issue is not whether the Chapter 13 can be filed, but rather whether the debtor can receive a discharge in the Chapter 13. Discharge in a Chapter 13 will be denied if a prior Chapter 7, 11, or 12 was filed within four years of this Chapter 13’s filing, or if a prior Chapter 13 was filed within two years of this Chapter 13’s filing. Additionally, if the Chapter 13 is being filed within one year of a prior bankruptcy’s dismissal, a motion to extend the automatic stay must be filed so creditors do not have the right to pursue foreclosure, repossession, or garnishment during the bankruptcy.

A Chapter 13 can still have value even if a discharge is not available, so it is a good idea to talk to an experienced bankruptcy attorney to determine if a Chapter 13 will help no matter how long it has been since your last bankruptcy. Further, the automatic stay is critical for Northern Kentucky and Greater Cincinnati residents to preserve their assets in bankruptcy, so be sure to consult with a lawyer before filing.

Every Case Is Different, So Don’t Go It Alone!

These are general rules, and every case is different. There may be something about your case that is unique and requires a variation from the norm. Don’t file bankruptcy without legal help. Lawrence & Associates takes pride in representing Northern Kentucky and Greater Cincinnati residents just like you. We are Working Hard for the Working Class, and we can help. Call today!

Contact Us (859.371.5997) for a Free Consultation


Lawrence & Associates Provided Free Legal Consultations on Weekends at the Richwood Flea Market This Summer

Posted on Friday, July 18th, 2014 at 3:32 pm    

The Attorneys of Lawrence & Associates provided free legal consultations at the Richwood Flea Market on Saturdays and Sundays between 9am – 5pm this summer. Thanks for meeting with us!

Richwood Flea Market

Kentuckys best and most loved Flea Market since 1980! Richwood Flea Market is your one stop shopping home for all things vintage and new. Whether you are looking for a bargain or looking for a home for your store, Richwood Flea Market is the place for you. Great family fun and food!
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Lawrence & Associates

Lawrence & Associates is a firm dedicated to helping accident victims and the families of fatal accident victims get the compensation and care they need to rebuild their lives. We also help people and their businesses obtain a fresh financial start through bankruptcy. Lawrence & Associates is located in Fort Mitchell, Kentucky, and serves all of Northern Kentucky.

What Does It Cost To Have An Attorney Handle My Chapter 7 or Chapter 13 Bankruptcy Case?

Posted on Friday, July 11th, 2014 at 2:41 pm    

fresh start bankruptcyThe short Answer at Lawrence & Associates is that in most cases it costs $870 for a Chapter 7 bankruptcy or $300 out of pocket for a Chapter 13 bankruptcy, plus court fees of $335 for a Chapter 7 or $310 for a Chapter 13. In extremely complex or extremely simple cases our prices will vary but those cases are very rare.

In a Chapter 13 Bankruptcy, What Do You Mean By Out of Pocket?

In a Chapter 13 bankruptcy, Lawrence & Associates will end up getting $3,500 ultimately but the client will only have to pay us $300 out of pocket plus court fees. In a Chapter 13 bankruptcy, the client never has to pay the full fee out of pocket. The remainder of the $3,500 fee that Lawrence & Associates gets is paid through the bankruptcy court.

How Are Court Fees Paid?

The client prepays the filing fee to Lawrence & Associates and then we pay the fee for them when we file.

What about Consultations and Retainers?

Initial Consultation are always free, with no obligation to sign up.

Sometimes you need us to act quickly and get the details later. In that case, we can be retained for $275 to start working on the bankruptcy immediately.

Student Loans Cannot Be Discharged in a Bankruptcy

Posted on Friday, June 27th, 2014 at 3:10 pm    

Student LoadsPresently student loans are non-dischargeable in a bankruptcy and it doesn’t seem that Congress is likely to change this rule anytime soon. The only way to get rid of a student loan is by paying it off.

Types of Student Loans…

  • Loans from the Federal Government – Loans from the federal government are typically low rate and the government is less likely to be aggressive when chasing debtors down for money.
  • Student Loans from Private Lenders – Private lenders of student loans are in most cases aggressive in collecting debts.  These lenders can be a real nightmare to deal with.

Students Need To Be Careful About Taking More Loans Than They Need

A lot of students take out large loans that cover all tuition, rent, and living expenses for a semester, when they could take out just enough to cover tuition and work to pay their rent and living expenses, which is the better idea. Also, students need to look at the average earnings for graduates with a given degree and compare that to the amount of tuition going into that degree to see whether it is even possible to pay the loan back. There are many degrees obtained from high priced institutions where it is almost mathematically impossible to pay the loans back.

Next Steps for Those With Large Amounts of Student Loans?

Since you can’t discharge student loan debt, you would be best to just pay them. Maybe you can cut expenses enough to make this happen. This is your best option. For those who just can’t handle their other debts to enable them to pay down their  student loans; chapter 7 or chapter 13 bankruptcy may be an option.

Immediate Relief For Pressing Financial Problems

Above all, do not ignore your financial problems or lawsuits that creditors bring against you. These issues will not disappear. Your best option is to contact a bankruptcy attorney at the first sign of financial distress. Even if you are facing immediate foreclosure, repossession or wage garnishment, Lawrence & Associates can provide swift legal action to help protect you. Your start to a fresh financial future begins when you contact the bankruptcy law firm of Lawrence & Associates. Our firm helps clients file Chapter 7 bankruptcy and Chapter 13 bankruptcy. When you work with our firm, we will take the time to fully explain your legal options and the bankruptcy process in an understandable way — not with complex legal jargon. We can also provide advice on how to stop creditor harassment, garnishment, foreclosure and repossessions.

Providing You With Debt Relief Solutions Through Bankruptcy

Regardless of the reasons that brought you to financial distress, filing for bankruptcy does not make you a bad person. In fact, the government created bankruptcy in order to help people recover from unmanageable financial problems. At Lawrence & Associates, we help our clients understand how bankruptcy laws are made to protect them and will allow for a brighter financial future.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

If you or someone you know has large amounts of student loans that they are having a problem paying back, have them contact Lawrence & Associates today to see if we can help!

Contact Us (859.371.5997) for a Free Consultation

This is an advertisement. This does not constitute legal advice, nor does it create an attorney client relationship.

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