Has Your Car or Other Item Been Repossessed?
Having your car repossessed can be a very stressful and depressing experience. You are not sure if you have the right to get your car back and also what happens next if you can’t. At the Mastriani Law Firm, we can help. If you act fast enough, it is possible to get your car back. You can also receive compensation if the repossession agents breached the peace when they took your vehicle. Contact us to learn more about your rights if you have been threatened with car repossession.
What to Do When You Learn Lender Intends to Repossess
When you purchased your car, there typically is a provision contract in the car loan that you agree that if you fail to make a payment, you agree to let the lender repossess the car. If you receive a letter from your lender with a notice to repossess your vehicle, you first and always best action is to contact them and attempt to pay the payment. If you are going through hard times and cannot make the payment that was agreed to in the loan contract, then it is possible to seek a modification of the original loan agreement. Attorney John Mastriani, has experience with negotiating with loan companies to reduce your payments so that you can afford them.
You Only Have 10 Days to Take Action
After your vehicle is repossessed, you only have 10 days to take action before the creditor is legally allowed to sell it. If your car just got repossessed please contact us today. We can help you by filing the required papers.
Mastriani Law Firm is experienced in helping clients:
- Obtain “cram downs” on car loans
- Stop or prevent vehicle repossessions
- Regain control of repossessed vehicles
Repossession Attorney Helps Clients after Repossession
Once your car has been taken, you have a very short time frame to get your car back. We can help you take the necessary action to get it back. Most times it will be necessary to pay off the entire loan but we will work with you to negotiate a payment that you are able to pay until the amount is paid off.
After repossession, a sale is usually set within 10 or more days in the state of Texas. At the sale, the automobile will be auctioned but that is just part of your problem now. Soon the loan company is likely to sue you for a deficiency judgment for the amount of the outstanding loan plus repossession costs less the money recouped in the sale. We can defend you against this suit and counterclaim for damages for any breach of the peace that occurred in the repossession.
Contact a Repossession Lawyer at the firm for help with your repossession.