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Dealing with an Expected Vehicle Repossession

Bankruptcy stops your vehicle from being repossessed, and then gives you many tools—under both Chapter 7 and Chapter 13--to either keep or surrender the vehicle. Stopping the Repossession The minute you file any kind of bankruptcy case, the “automatic stay” instantaneously stops vehicle repossession. The automatic stay is an injunction against repossession and any other collection efforts by creditors. This federal injunction goes into effect immediately upon the filing, without the delay of … [Read more...]

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