Stopping Repossessions
Let Birmingham Bankruptcy Lawyer Paula Greenway Stop Repossession of Your Car or Other Assets
It's hard to imagine life in Birmingham without a car. Yet thousands of people lose their cars and other property each year to repossession. If you are threatened by repossession of a car, don’t throw away something you worked so hard for. There are steps you can take to stop the repossession.
At Greenway Law, LLC, in Birmingham, Alabama, we offer a free initial consultation to discuss your case and determine if bankruptcy is the best solution to save your car or other property and solve your debt problems.
Attorney Paula Greenway and our office staff can put an immediate stop to repossessions* and help you get caught up on payments so you can keep your car or other property. In some cases, we can even help you get back cars and other property that have already been repossessed.
We offer two types of bankruptcy protection available to consumers:
Both types of bankruptcy will stop creditors from harassing you and help you regain control of your financial situation. Filing Chapter 7 bankruptcy will give you about 30 days to catch up on your car payments. Filing Chapter 13 bankruptcy will give you three to five years to catch up and may allow you to reduce the amount of interest you pay.
If your car is more than 910 days (two and a half years) old and you file Chapter 13 bankruptcy, you would only have to pay interest on the present value of the car rather than the full amount you owe. Those interest payments would be reduced to the prime rate, plus a risk factor of about 2 percent. In some cases, this will reduce the amount of interest from about 21 percent to about 7.5 percent.
Free Consultation With a Bankruptcy Lawyer
To discuss credit card debt elimination or reduction with bankruptcy attorney Paula Greenway, call 205-324-4000 or fill out our simple contact form. We are located in Birmingham, Alabama, across from the downtown YMCA.
