Stop Repossession

Stop Vehicle Repossession

If you’ve fallen behind on your vehicle payments, Burleson Legal Group can help you avoid repossession. Pursuant to the Wisconsin Consumer Act the law requires that you receive notice by certified or registered mail 15 days prior to self-help repossession. This notice is called your notice of right to cure default. To be in default you must be more than one full month behind on payments for more than 10 days. The notice must include the following:

1. The name, address, and telephone number of the merchant, a brief identification of the consumer credit transaction, and a brief description of the collateral or goods.
2. A statement that, as a result of the customer’s default on the consumer credit transaction, the merchant may have the right to take possession of the collateral or goods without further notice or court proceeding.

3. A statement that if the customer is not in default or objects to the merchant’s right to take possession of the collateral or goods, the customer may, no later than 15 days after the merchant has given the notice, demand that the merchant proceed in court by notifying the merchant in writing.
4. A statement that if the merchant proceeds in court, the customer may be required to pay court costs and attorney fees.

If you fail to properly object within the 15 days, in writing and preferably by certified mail, then the creditor can take steps to self-help repossess your vehicle. The attorneys at Burleson Legal Group are here to help stop the repossession from occurring in the first place. Call today.

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Breach the Peace

Okay, so now the creditor is actively repossessing your vehicle. They are still under a duty to not breach the peace. Examples include entering a gated or garaged area without the owner’s consent, create a disturbance, threaten you with violence or arrest and, they must stop the repossession immediately if you verbally object to the repossession while they are trying to take your vehicle.

15-day Right of Redemption

Your car has been repossessed and you want it back, now what? Wisconsin law gives you 15 days in which to redeem the vehicle. This can be done by bringing the loan current and putting down a performance deposit however; most don’t have access to those type of funds, especially within the short 15-day time frame. A Chapter 13 bankruptcy could be the answer. Contact Burleson Legal Group immediately and we can help determine whether redeeming your vehicle through Chapter 13 bankruptcy is right for you.

Filing Bankruptcy Stops Repossession

Whether you file a Chapter 7 or Chapter 13, an automatic stay is created which immediately stops creditors from taking any legal action or pursuing ongoing collection actions against you, including vehicle repossession. In a Chapter 7 it could mean that you stave off the repossession and get to use the vehicle for an additional amount of time. During the Chapter 7 you can either voluntarily surrender the vehicle or figure out a payment arrangement (Reaffirmation Agreement) that works for both you and the creditor. In a Chapter 13 we can modify the rights of the creditor, take back the power and changing the payment terms of the vehicle loan to make it more affordable. In many cases we can reduce the interest rate and amount necessary to pay off the vehicle through a Chapter 13. Additionally, by spreading out fixed payments over 3 to 5 years, you significantly lower your monthly vehicle expense.

Either way, there are plenty of options and it’s imperative you contact us today. Delay is not on your side when facing repossession. The time limits to act are short. At Burleson Legal Group we have represented over 10,000 Wisconsinites in bankruptcy. I’m sure we can find a solution for you.

Contact Burleson Legal Group Today

The first step toward your financial fresh start is to call or e-mail us today. You will speak with a down-to-earth and experienced debt relief attorney who will lay out your options in an easy-to-understand manner. The consultation itself doesn’t take long and it is free. We look forward to hearing from you today!