Philadelphia Car Repossession Attorney

Bucks & Montgomery County Pennsylvania Law Firm helping to stop repossession of your Car

It can be easy to take for granted how important reliable transportation is in our lives. When you are worried about losing your car to repossession, however, many aspects of life can be made much more difficult. You may be able to stop car repossession through Chapter 7 or Chapter 13 bankruptcy and make it easier to remain current on your payments. If you act promptly, you may even be able to get your car returned to you after repossession.

Located in Feasterville, Pennsylvania, and serving clients in Philadelphia, Bucks, Montgomery, Delaware and Chester counties, I am dedicated to helping individuals keep their cars, trucks and motorcycles safe from repossession, while improving the outlook of their overall financial pictures. At Joshua Z. Goldblum, Attorney at Law, I have more than 25 years of experience in bankruptcy law and understand how hard-working people can become burdened by debt and the emotional stress that comes along with it.

If you are worried about mortgage foreclosure or are facing lawsuits from creditors, bankruptcy may be the best options for you. Contact me and talk about your situation at no cost.

Automobile Debt Relief Under Bankruptcy Law

Due to bankruptcy myths that are spread on the internet and elsewhere, many people fear that they will automatically lose their homes, cars and retirement accounts if they file for bankruptcy. In many cases, however, bankruptcy can actually help individuals avoid mortgage foreclosure and car repossession, while improving their overall financial health.

There are a few options for car payment relief under bankruptcy law in the United States. These include:

  • Debt reaffirmation: Although Chapter 7 bankruptcy allows you to discharge your personal liability for a debt, you may also reaffirm debts during the process if you want to keep a car, house or other property that has been pledged as collateral. If you reaffirm the debt, you will have to remain current on car payments, but if you can discharge other debt in the process, it may be easier to make those payments on a regular basis.
  • Redemption: If you have the funds available, you could avoid repossession by paying the current market value of the vehicle to the lien holder.
  • Voluntary repossession or surrender: Under certain circumstances, it may not be in your best interests to keep paying money on a car loan that you cannot afford. While reaffirming the debt would allow you to keep your car in the short term, it may not be worth it if you are unable to remain current on the payments. By voluntarily surrendering the vehicle, you can be freed from the debt and you may be able to purchase a more affordable vehicle.
  • A Possible Fourth Option: There may be a fourth option available as well. If you do not reaffirm, but keep current on the payment of the debt, you can retain possession of your vehicle. If you later default of debt after the Chapter 7 discharge and surrender your vehicle you may not be liable for any deficiency judgment. This option was available before the 2005 changes in the Bankruptcy Code, but the courts are unclear as to whether this option is still available.

I know that these decisions are not easy and that people in these situations need honest reliable advice. I provide my clients in Philadelphia, Bucks, Montgomery, Delaware and Chester counties with knowledgeable counsel and representation. I will help you understand your options and whether reaffirming your debt or voluntarily surrendering your car in the best choice for you.

Contact me to schedule a free initial consultation and talk with an experienced lawyer about your situation. Call me to make an appointment at 215-322-2745.

My firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.