If you have been burdened by making substantial payments on a car, truck, boat or other property and have fallen behind, you could be under the threat of having your property repossessed. When your property is repossessed, you lose all the money you have already paid on the property, plus the property itself. Often, people fall behind on their vehicle payments, leading to the repossession of their car or truck. Having your mode of transportation repossessed can cause great financial difficulties for you, including preventing you from getting to and from work to earn a living.
Filing for bankruptcy may be the best solution for you to keep your property and stop creditors from taking any action towards collection of the debt, including the repossession of your property. This is what is known as the “automatic stay.” It notifies creditors that you are filing for bankruptcy and keeps them from continuing to harass you to get the debts settled.
If you are under threat of having your property repossessed, it is essential that you contact a qualified attorney as soon as possible in order to keep your valuable assets. The Kalra Law Firm is a group of experienced bankruptcy attorneys who have proven successes in helping clients to clear their debt and keep their valuable property.
Call the Kalra Law Firm today to schedule an appointment to discuss how you can avoid repossession, start over financially and live the debt free life you’ve always wanted. (310) 325-9012.