Have you experienced or are facing vehicle repossession in Michigan? I understand the stress involved with potentially losing your means of transportation and the frustration of trying to balance your budget to meet each month’s debt obligations. I am your helping hand. I help Michigan residents resolve their debt, create a balanced budget and aim to protect my clients from creditors.
Q: What can I do to help?
A: Stop a vehicle repossession, likely reduce your payment, or help you eliminate loan deficiency debt if you are no longer able to afford the vehicle payments altogether.
Q: How can my creditor obtain my vehicle?
A: While the repossession company may trespass your property to retrieve the vehicle, they cannot legally “break and enter” a closed structure. For example, if they see the car in a closed garage through a window, they cannot legally lift the garage door to repossess the vehicle. In the process of recovering the car, they cannot “breach the peace.” This means that they cannot create a loud disturbance in their efforts repossess the vehicle.
Q: If I’m in default, is there anything I can do to prevent my creditor from repossessing my vehicle?
A: Yes. If you know that a creditor is coming, or if you are in default and fear action by a creditor, contact me. Once the car has been repossessed, the lender has to abide by a 15 day redemption period. This allows you 15-day to redeem the vehicle before the lender can attempt to sell the car at auction.
Q: How long after my vehicle has been repossessed do I have to come up with any past-due balance?
A: I can possibly recover your vehicle up until the point that it is sold at auction and provide you with the legal protection and reasonable repayment terms. This will not only protect your vehicle, but the plan can also create more favorable payment terms.