703 West Saint Germain Street

St Cloud, MN 56301

860 Blue Gentian Rd Ste 200

Eagan, MN 55121

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612-438-8006

Car Repossession

Car Repossession Attorneys at Kain & Henehan - St. Cloud & Eagan, MN

Car Repossession

Bankruptcy can hold off repossession before it happens. If the vehicle has already been repossessed, two different bankruptcy chapters can help you – in different ways.

A chapter 7 bankruptcy case will protect the person whose vehicle has been repossessed from having to pay the lender for any shortfall on the car loan after the car is auctioned. A chapter 13 bankruptcy can actually get the repossessed vehicle returned to the owner, with the requirement that the chapter 13 payment plan proposes to pay off the arrears on the vehicle loan, or in many cases, simply pay the car loan in full through the chapter 13 plan.

Any person thinking about filing a chapter 13 to get a repossessed vehicle returned to them needs to act fast – there is just a short amount of time between repossession and the end of the redemption period for a case to be filed.

You don’t have to wait for a repossession to take advantage of chapter 13’s ability to re-write a vehicle loan. In some cases, a longer loan period, reduced interest rates and/or a reduced loan principal balance can be incorporated into a chapter 13 plan to make a car payment more affordable.

Filing a Bankruptcy with Kain + Henehan in 4 Steps:

Your consultation can be completed virtually, via phone, or in person at one of our two offices in Eagan and St. Cloud.

We’ll confirm and finalize your paperwork. Once you’re ready, you’ll sign off on your bankruptcy filing.

We submit your paperwork to the courts. At this point, all of the protections of a bankruptcy are in place. We only have one quick phone call or Zoom meeting to confirm your paperwork.

If you filed a Chapter 7, your debt will be discharged in about 3 months. If your case is a Chapter 13, your debt will be discharged in 3 to 5 years, according to the payment plan set in your case.

“BANKRUPTCY ISN’T THE END.
IT’S AN ENTIRELY NEW BEGINNING.”

Phone:

612-438-8006

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