One of the most popular ways of getting repo’d car back is by filing Ch 13 in California. Regardless of whether it is a small car, SUV, truck, van or motorcycle, you can always get it back. One way is by filing for chapter 13 bankruptcy. And what’s more? You can also renegotiate the loan repayment terms with your lender and manage your other debts as well!
Getting Repo'd Car Back
Once you have filed for your chapter 13 bankruptcy, the US Bankruptcy court issues an ‘automatic stay’ order. This stay order prohibits all your creditors from further pursuing any collection activities against you. Also, your car lender loses their right to repossess your vehicle or sell it. This is if they have already repossessed it before the petition was filed. Typically, once you have filed your chapter 13, you lender will be obligated to return your car to you.
However, it is important for you to ensure a timely filing of the chapter 13 to retain your car. For instance, if your lender has already sold off your car, filing a petition later will not bring it back. In most states, the lender is obligated to hold a repossessed vehicle for at least 10 to 15 days before selling it. It is a good idea to file your chapter 13 within this period. Filing chapter 13 will prohibit the lender from selling your car. It also gives you to chance to reinstate your loan and get your repo’d car back.
Typically, when lenders are notified of chapter 13, they willingly return the vehicle to the debtor. However, in case your lender is reluctant to cooperate, your Sacramento bankruptcy attorney will file a Motion for Turnover, that will issue a court order for your lender to return the car to you.