Car Repossession Assistance
for Wilson, Greenville, NC & the Surrounding Areas

If you are facing bankruptcy and have questions about what will happen to your vehicle, turn to the dedicated lawyers at John G. Rhyne, Attorney at Law. Our bankruptcy attorney understands that losing your car can be a scary situation. Often your vehicle is your main source of transportation and without it, even the simplest of errands can quickly become an inconvenience.

With over 25 years of experience working on cases involving car repossessions for clients in the Nashville, Elizabeth City, Rocky Mount, Kitty Hawk, Smithfield, Zebulon, Clayton, Wendell, Greenville, and Washington, NC areas, Attorney John G. Rhyne can help you navigate the legal system to ensure all of your options are considered. When you contact our law firm, you can be sure that our car repossession and bankruptcy attorney will work tirelessly with your lender and come up with the most convenient solution for you.

If you require car repossession assistance, we welcome you to contact our office today and schedule a bankruptcy consultation!

UNDERSTANDING CAR REPOSSESSION

Unless you paid for your vehicle outright, it's likely that you financed the purchase through a lender in exchange for an agreement to pay the loan back in monthly installments. When a vehicle is repossessed, it usually means that the borrower has missed one or more payments on their car loan; however, most lenders don't proceed with the repossession process until the borrower has missed two or three consecutive payments. Other lenders might reach out for an explanation and discussion. If you miss a payment, generally by more than 30 days past the due date, the lender is able to legally repossess your car. If you find yourself unable to make your agreed payments to your vehicle for any reason, it's essential to reach out to your lender to avoid repossession.

Before a car repossession, you will most likely receive a notice of outstanding payments on your loan that you will need to pay to avoid repossession. The notice may come through phone, email, or paper mail; however, the repossession can occur at any time. After they repossess your vehicle, your lender will be responsible for informing you of the repossession and any of their intentions to sell. You will have the opportunity to get your vehicle back, but a limited window of time in which you can do so. If your vehicle is sold at auction and your lender fails to recoup its total cost, you will be responsible for the remaining balance. If you fail to pay, the lender can send your loan to collections, which could severely damage your credit.

If you are facing car repossession, or if you believe that your vehicle was repossessed wrongfully, it's important to know that you have rights. Reaching out to an experienced foreclosure attorney can help you understand your situation and make a plan to avoid repossession if possible. Our office can review your case and help you take the necessary steps to maintain your credit and potentially regain your vehicle. We have worked with vehicle owners throughout the Nashville, Elizabeth City, and Rocky Mount, NC area. Contact us for more information!

PREVENTING CAR REPOSSESSION

• Stay Informed and Communicate The first step in preventing car repossession is to stay informed about your loan agreement and communicate openly with your lender. If you're struggling to make payments, contact your lender immediately to discuss your options. Many lenders are willing to work with borrowers to find a solution, such as restructuring the loan or offering a temporary payment plan.
• Review Your Loan Agreement Understand the terms of your loan agreement, including the repossession process and your rights. Knowing what to expect can help you prepare and take proactive measures to avoid repossession.
• Prioritize Your Payments If you're facing financial difficulties, prioritize your car payments. Missing even one payment can trigger the repossession process. If you can't make a full payment, try to make a partial payment to show good faith and keep the lines of communication open with your lender.
• Seek Legal Advice Consulting with an experienced attorney can provide you with valuable insights and legal options. At John G. Rhyne, Attorney at Law, we specialize in helping clients navigate the complexities of car repossession. We can review your loan agreement, negotiate with your lender, and explore legal remedies to protect your vehicle.
• Consider Refinancing or Selling If you're unable to make your current payments, consider refinancing your loan to lower your monthly payments. Alternatively, if the value of your car is less than what you owe, selling the vehicle and using the proceeds to pay off the loan may be a viable option.
• File for Bankruptcy (if necessary) In some cases, filing for bankruptcy can temporarily halt the repossession process. However, this is a serious step that should be taken only after consulting with a qualified attorney. Bankruptcy can provide you with time to reorganize your finances and potentially keep your vehicle.
• Know Your Rights Understand your rights under state and federal laws. Lenders must follow specific procedures when repossessing a vehicle, and any violation of these procedures can be grounds for legal action. At John G. Rhyne, Attorney at Law, we can help you understand your rights and ensure that your lender complies with the law.