Do You Need a Repossession Lawyer in St. Louis MO?

by | Aug 3, 2016 | Law Services

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When people are in danger of losing their vehicle, their home, or both, they need fast answers. Waiting too long can mean that the window of time to file for bankruptcy has passed. However, if people call a repossession lawyer in St. Louis, MO quickly, the chances are good that they will be able to keep their vehicle, their home, or both. The rules for bankruptcy, in particular chapter 7 bankruptcy, are designed to allow people to continue living their lives in a productive way. To live a productive life, a person must have a place to live and transportation. Therefore, the bankruptcy laws allow people who are declaring bankruptcy to keep their primary home and their main vehicle.

Filing bankruptcy, whether chapter 7 or chapter 13, is often far more complicated than people initially think. The most important thing to be aware of in a personal bankruptcy is that keeping close track of each bill and each creditor is very important. Every creditor must be included in a bankruptcy filing in order to get the debts discharged. In the case of home and vehicle loans, things can work differently.

Even if the home or vehicle has already been threatened with repossession, it may not be too late to save it. As soon as a person files for federal bankruptcy protection, any repossession actions against the person filing the bankruptcy must stop. During the bankruptcy process, which typically takes at least several months, the homeowner or vehicle owner will not be in danger of losing their home or vehicle. If the lien holder on the home or vehicle contacts a person who has already filed for bankruptcy, the filer should clearly state that they have already filed for bankruptcy protection. If a lawyer is working with a bankruptcy filer, they can give that lawyer’s name to the lien holder for confirmation.

You don’t have to lose your home or your vehicle. If you are ready to get help from a local repossession lawyer in St. Louis, MO, call the Stlbankruptcyfirm.com to find out more about how bankruptcy works today.