FREE Debt Relief & Bankruptcy Consultation
(330) 409-2876 or (877) 505-9455
FREE Debt Relief Consultation Call (330) 409-2876 or (877) 505-9455
Sheppard Law Offices
TALK TO AN OHIO BANKRUPTCY ATTORNEY TODAY (330) 409-2876
While it is common for creditors allow for a grace period, often with secured loan agreements the creditor has the legal right to repossess the property secured by the loan at any time that your payments are in default. If you are facing a repossession action on your home, car, boat, motorcycle or other secured debt, the Canton, Ohio debt relief and bankruptcy attorneys at Sheppard Law Offices can help you to protect your property from creditors.
Filing for chapter 13 or chapter 7 bankruptcy activates the Automatic Stay provision of U.S. Bankruptcy Code, which immediately prohibits creditors from pursuing collection actions. Since repossession is considered a collection action, the Automatic Stay will put an immediate stop to repossession actions against your property. Once you have filed for chapter 7 or chapter 13 bankruptcy you will not have to live in fear of having your home, car, boat, motorcycle or other secured debt repossessed.
One of the methods in which Sheppard Law Offices can help you to employ in order to keep your property is to seek a loan modification. While seeking or requesting a loan modification does not provide immediate protection from being repossessed to your car, boat, motorcycle, jewelry, or other property like the Bankruptcy Automatic Stay does, loan modification may be a viable option to save your vehicle from repossession while adjusting the payment to an amount that you can afford. Once the loan modification agreement is in place with the creditor that has the lien, your property will be safe from repossession as long as you stay current with the modified payment plan.
When filing for chapter 7 bankruptcy, you may surrender your vehicle, redeem your vehicle, or reaffirm your vehicle loan. To reaffirm a vehicle loan under in a chapter 7 bankruptcy filing, your payments must be current at the time of filing. Therefore, while filing for chapter 7 may delay repossession of your property, if you cannot bring your payments current you still may have to surrender the vehicle.
For those wishing to keep their property that are unable to bring the payments current, filing for chapter 13 may be the most viable option. Filing for an Ohio chapter 13 bankruptcy can allow you to keep your property if the secured debt (e.g. the vehicle loan) is paid as part of the chapter 13 plan, even if you are behind on your payments.
The Akron-Canton, Ohio Bankruptcy, Debt, and Tax Relief lawyers at Sheppard Law Offices can help to save your car or other property from repossession. The North Eastern Ohio lawyers offer a free initial consultation with a bankruptcy attorney. Sheppard Law helps those seeking to remedy their debt situation and keep property from being repossessed. Our Ohio bankruptcy lawyers review the value of the property, along with the loan terms to help to determine what the best form of debt relief for your specific situation. Get the financial help you need today by calling (330) 409-2876.
Sheppard Law Offices
Canton, Ohio Office
Belden Village Tower, 200
Canton, Ohio 44718
Tel: (330) 409-2876
Columbus Ohio Office
2600 Tiller Lane, Suite A
Columbus, Ohio 43231
Tel: (614) 523-3106
Newark, Ohio Office
843 N. 21st Street, Suite 108
Newark, Ohio 43055
Tel: (740) 345-7138
Mt. Vernon, Ohio Office
11 West Gambier Street
Mt. Vernon, Ohio 43050
Tel: (740) 392-0404
We are a debt relief agency. We help people file for protection under the U.S. Bankruptcy Code.
© Copyright Sheppard Law Offices. All Rights Reserved.
Sheppard Law Offices, LPA is conveniently located and serving chapter 7 and chapter 13 bankruptcy clients in Canton, Ohio. Our office is a short drive from throughout Stark, Tuscarawas, and Summit Counties. We regularly provide debt relief solutions to clients from Akron, Canton, North Canton, Massillon, Dover, New Philadelphia, Alliance, Navarre, Strasburg, Ballivor, Jackson Township, Canal Fulton, Barberton, Greenlawn, Medina, Wooster, Orrville, Dalton, Minerva, Ashland, Wadsworth, Carrollton, Dundee, Millersburg, Hartville, Doylestown, Green, Uniontown, Salem, Columbiana, Uniontown, and throughout Ohio.