Attorneys Fighting Repossession in North Texas

Bankruptcy Law and Car Repossession

If your vehicle gets repossessed in North Texas, it is critical to take action immediately. At Pelley Law Office, L.L.P., we can help you prevent a pending repossession or reacquire a recently repossessed vehicle through a Chapter 13 bankruptcy.

Filing Chapter 13 bankruptcy immediately after repossession should enable you to get your car back. If you are behind on the car and facing a repo, then a Chapter 13 will give you the chance to pay back the arrears over a 5 year period rather than having to come up with the money all at once. If you purchased or last refinanced the vehicle over 2 ½ years ago, then you can pay the value of the vehicle rather than the amount owed over a 5 year period! Almost without exception, your monthly car payment will be reduced when you file a Chapter 13 bankruptcy.

In other words, if your monthly payments are around $550 and you did not recently purchase the vehicle, it may be valued at around $10,000. That will lower your monthly payment to somewhere around $230. The amount owed over and above what the car is worth should be discharged in most cases just like your credit card debt.

You have a very limited time following a repossession in which to take action if you want to regain the car. Contact an attorney at Pelley Law Office, L.L.P. today to learn more in a free consultation.

Deficiency After Repossession Sale

If your vehicle has been repossessed and you no longer wish to keep the vehicle, understand that you will be sued for the deficiency after the lien holder sells the vehicle. In most cases, filing bankruptcy under either Chapter 7 or Chapter 13 will result in the discharge of the entire amount of debt you owe on the vehicle. When the debt is discharged, you will not have to pay back any deficiency that may exist after the repossession sale.

Get Immediate Assistance With Repossession in North Texas

We urge you to immediately call Pelley Law Office, L.L.P. today at 972-608-0335 or 903-813-4778 to schedule a free confidential consultation with an experienced bankruptcy lawyer to learn more about repossession. You can also contact us by e-mail now to request an appointment.

Questions? Feel free to visit our Bankruptcy FAQs. To learn how we have helped clients in North Texas deal with overwhelming debt and other legal problems, please view our Client Testimonials.

Just a brief note to tell you how appreciative I am of how effective you were in my Bankruptcy Proceedings. I was never worried because I knew I was being represented by the best. Thank you!

- F.B.

I was faced with a first degree felony, which meant 5-99 years behind bars. It was terrifying. You are not only a great attorney but a very honest man with integrity...you saved my life.

- A.N.

From the first moment I met Mr. Pelley, he made me feel at ease. I was always updated, whether via mail or phone call of court dates and information concerning my case. He did a remarkable job and went above and beyond all my expectations. I wouldn't have to think twice about recommending Mr. Pelley to represent any of my family members or closest friends.

- C.G.