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Wednesday, September 4, 2013

Four little known facts about car repossession law

Having your car taken away is not ideal. It can be difficult to get basic things done, such as going to work, picking up your children from school or running basic errands when something like this occurs. If you are dealing with a scenario like this, it can really help to know repossession laws for vehicles in your state. Here are four lesser-known facts about the implications of this legal situation.

Trespassing, but not breaking in and entering is legal for auto repossession purposes
Experienced lawyers stop vehicle repossession in its tracks

Lawyers that specialize in this area of expertise can really help

If you are facing a financial hardship that has led to this series of events, you may be surprised by how helpful an attorney can be. Experienced lawyers can oftentimes halt repossession in its tracks.

If this can’t be done, they may be able to help you either eliminate a loan balance necessitating that you pay for the vehicle or get your payment reduced at the very least.

Best of all, you can usually get the ball rolling on the same day that you contact the lawyer, which might mean that you’re protected right away from having your car taken.

There are many locations where you can receive help

In the state of Michigan alone, there are several different office locations where you can consult in person with repossession attorneys and get the help required. These locations include Dearborn, Southfield, Flint, Ann Arbor and Warren.

Even repossession representatives have to abide by certain rules

Although it may seem like you have no rights if you don’t pay the debt on your vehicle, this is not the case. Believe it or not, repossession laws in Michigan (and often, elsewhere in the United States) can work in your favor, as well.

For instance, did you know that there is a specific way that the company must go about obtaining your mode of transportation? Breaking and entering into a garage, shed or other structure is not allowed; however, the individual is allowed to trespass upon your property (a driveway or backyard, for instance) to get a motor vehicle simply parked outdoors.

Another rule is that disturbing the peace is not allowed while repossessing. The agent isn’t legally in the right if he or she causes loud noise or starts a screaming match while going about his/her business.

In addition, your vehicle cannot immediately be sold at auction to recoup the expenses that you owe on a loan. The company must wait 15 days for you to retrieve your car before putting it up for sale.
If any of these laws are broken, you may have an advantage in the case with a good lawyer by your side.

You can sometimes keep your car by filing for Chapter 13 Bankruptcy

One option that could allow you to keep your mode of transport and also help your budget is to file for Chapter 13, a kind of bankruptcy that reduces debt amounts and adjusts interest rates. For those who have owned their car for more than two and a half years, this can be a viable choice.

Vehicle repossession laws across the United States can be tricky to understand, but with a little bit of information and support, you can figure out how to keep your car and get your finances back on track.

About the author: Because of mounting debts, Sheila was afraid of losing her car to repossession. She decided the best way to avoid this would be to reach out to resources like Acclaim Legal Services to get the most information possible about the applicable rules, regulations and options she had available. She hopes her research will help others avoid the unpleasantness of having their vehicles taken away.

* Image license: Mzacha; RGB Stock; Royalty Free