Car Payments and Car Repossession

Sawin & Shea

Is a car repossession looming in your future? Car repossession is one of the many reasons people contact the Indiana bankruptcy attorneys here at Sawin & Shea. Here’s some good news: You don’t have to just give up and allow your car to be repossessed.

INDIANA REPOSSESSIONS DURING COVID-19 PANDEMIC

Indiana Consumer Law Group

It is my hope in these trying times that creditors exercise restraint and avoid repossessions altogether. Unfortunately, I am afraid that repossessions are still going to occur during the Coronavirus Covid-19 pandemic. First, repossessions are likely prohibited.

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How to Handle Vehicle Repossession

Nerd Wallet

If you think your car could be repossessed, you might feel that you’ve reached the end of the road. But there may still be ways to avoid repossession or, barring that, lessen its damage. The article How to Handle Vehicle Repossession originally appeared on NerdWallet.

Car Repossessions During the COVID-19 Crisis

Sawin & Shea

I’m here to talk to you today about repossessions. I know currently with this current COVID-19 crisis, many car lenders have voluntarily suspended repossessions. There is no state mandate keeping them from repossessing cars. Transcript.

Can you keep a car once the lender starts repossession efforts?

Roths Child Law

When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. How does repossession work? Repossession usually starts with the lender warning and then formally notifying the vehicle owner about arrears on their payments.

How Can a Secured Creditor Repossess Collateral Without Breaching the Peace?

Jimerson Firm

The quickest and cheapest way for a secured creditor to take possession of the collateral is by self-help repossession. In Florida, a secured creditor may use self-help repossession without going to court, provided it does not “breach the peace.” § 679.609(2)(b), Fla.

Consumer Financial Protection Bureau Settles with Nissan Motor Acceptance Corporation for Illegal Collections and Repossession Practices

Consumer Finance

The Consumer Financial Protection Bureau issued a consent order against Nissan Motor Acceptance Corporation, which services auto loans and leases originated by Nissan and Infiniti dealerships nationwide. Press release Auto loans Enforcement

Santander Sued by Indiana Consumer for Breach of Peace Repossession

Indiana Consumer Law Group

over a repossession that allegedly did not comply with Indiana law. Specifically, the repo agent is alleged to have breached the peace in repossessing the plaintiff’s vehicle. Indiana law, like most states’, permits a lienholder to repossess a car when the owner defaults on the note. One of those requirements is that the repossession absolutely must be conducted without a “breach of the peace.” PRESS RELEASE.

Tri-Force and Ally Financial Sued for Wrongful Repossession in Indiana

Indiana Consumer Law Group

The lawsuit alleges that agents of Tri-Force breached the peace when they attempted to repossess a vehicle from our client and then, when our client physically resisted the repossession (as was his legal right to do), engaged the police to coerce our client to relinquish possession of the vehicle and thereby accomplish the wrongful repossession. Our office has noticed a disturbing trend of more aggressive repossessions in 2017.

CFPB Supervisory Highlights: Auto Loan Servicers Should Re-Examine their Repossession Fee Policies

Consumer Financial Services Law

Auto loan servicers need to pay careful attention to their repossession practices and particularly, their policies concerning repossession fees. The clear message from the CFPB’s Supervisory Highlights is that examiners are focused on repossession activities, “including whether property is being improperly withheld from consumers, what fees are charged, how they are charged, and the context of how consumers are being treated to determine whether the practices are lawful.”

Nissan Becomes Most Recent Target of CFPB Ire: Auto Finance Company Enters into $4 Million Consent Order for Alleged Unlawful Repossession Acts

Troutman Sanders

Specifically, the CFPB alleged that Nissan violated the Act in four ways: By repossessing vehicles between 2013 and 2020 even though customers had already made payments or taken action that should have prevented repossession; By requiring customers to pay a $7.95

What Is the Automatic Stay in Bankruptcy?

Nerd Wallet

The automatic stay temporarily halts most judgments, collection activities, foreclosures and repossessions of the consumer’s property, which is known as the bankruptcy estate.

NMAC Pays $5M In CFPB Consent Order; Third-Party ‘Deprived’ Consumers of Lower Pay-by-Phone Options

Account Recovery

The Consumer Financial Protection Bureau yesterday announced it had entered into a consent order with Nissan Motor Acceptance Corp.,

Bankruptcy and Tax Refund Strategies

Sawin & Shea

Perhaps you can’t wait to file for bankruptcy because you have a repossession pending or a garnishment that’s about to hit your paycheck. We can talk to you about your tax refund and how a repossession or garnishment could impact it.

60% of Private Landlords owed rent arrears

UK debt collections

One year on from the first ban on the repossession of rented homes, the analysis shows that more tenants are likely to lose their homes in the long term as a result. It is taking an average of a year from a private landlord making a claim to repossess a property to it being enforced.

What Does a Chapter 13 Repayment Plan Look Like?

Sawin & Shea

It stops creditors from pestering you and halts repossessions and foreclosures while you work on creating a repayment plan that’s reasonable for you to repay based on your income and assets. It’s a smart choice to file for Chapter 13 bankruptcy.

Why you might want to file for bankruptcy

Roths Child Law

Furthermore, they are not able to garnish your wages, repossess property or foreclose on your home. Filing for Chapter 7 bankruptcy can be an effective way to eliminate a variety of unsecured business or personal debts.

Partner with certified Debt Collection Agency

Debt Recoveries

Established in 1961, the Institute of Mercantile Agents Limited (IMA) represents collectors, investigators, process servers and repossession agents throughout Australia. The cashflow of every business is an important factor to keep the operations of the business afloat.

What are the disqualifiers to filing for Chapter 7 bankruptcy?

Roths Child Law

Debt can quickly mount if you don't aggressively address it early on. Many consumers who find themselves unable to pay their bills look to different debt relief options to gain a fresh financial start, including bankruptcy.

Surviving Debt – Free Book During Coronavirus Pandemic

Debt Free Colorado

Vehicle Repossessions. Free book about dealing with debt during COVID-19. The National Consumer Law Center is offering free access to the digital version of its book, Surviving Debt, during the COVID-19 emergency.

Why you might want to file for bankruptcy

Roths Child Law

Furthermore, they are not able to garnish your wages, repossess property or foreclose on your home. Filing for Chapter 7 bankruptcy can be an effective way to eliminate a variety of unsecured business or personal debts.

What Debts Will Remain After A Chapter 13 Discharge?

Sawin & Shea

The kinds of debt that can typically be eliminated are credit card debt, medical bills, utility bills, evictions, repossessions, and personal loans. Chapter 13 bankruptcy can wipe out most kinds of debts and leave you with a much brighter financial picture.

Considerations before you file for business bankruptcy

Roths Child Law

Do you need immediate relief from garnishment, repossession or other aggressive collection methods? It is difficult to run a small business, and you may find that your company is struggling financially.

The unseen effects of carrying a significant amount of debt

Roths Child Law

They may send letters, call frequently, threaten to foreclose on the home or even repossess the consumer's property. Owing a significant amount of debt is a stressful time for a Tennessee consumer. One of the most common consequences of this problem is attempts from creditors and debt collectors to get payment from the individual. This can feel embarrassing, overwhelming and cause emotional distress.

SBA Loans: How to Maximize Recovery by Liquidating Personal Property

Jimerson Firm

Self-Help Repossession: In Florida, a secured creditor may use self-help repossession to take possession of collateral, provided its efforts do not breach the peace.

What are the disqualifiers to filing for Chapter 7 bankruptcy?

Roths Child Law

If you recently (within the last 180 days) either asked for a prior bankruptcy petition to be dismissed once your creditors sought the right to repossess some collateral or your petition was involuntarily dismissed because you failed to attend court or comply with the court's orders, you will have to wait to file again. Debt can quickly mount if you don't aggressively address it early on.

Dealing With Debt From COVID-19

Debt Free Colorado

They will feel obligated to protect their interest in the collateral (your car) and can move quickly to repossess after only a few missed payments. How do I pay my Bills if I’m out of Work due to a Stay-At-Home Order?

Military families’ main worry? Financial challenges.

Albuquerque Law

The SCRA protects active military service members and their families before and during bankruptcy proceedings by preventing or postponing: Default judgments on debt collection; Eviction or foreclosure; Repossession of their vehicle; Civil court proceedings; and Wage garnishments. Military service members and their families make many sacrifices to protect the values and people of the United States. Most service members do not expect one of those sacrifices to be financial security.

Understanding Indiana Foreclosure Laws

Sawin & Shea

This allows them to begin the foreclosure process on your home, which will ultimately cause your home to be repossessed and sold at what is called a sheriff’s sale unless some type of intervention takes place.

Filing Bankruptcy Without Your Spouse: What Happens to Debts & Property?

Sawin & Shea

This means a foreclosure, repossession, garnishment, or other action can continue against your spouse even after you’re freed of it through bankruptcy – but only if their name is on the debt.

Deepening Circuit Split, Third Circuit Holds that Items Seized Pre-Petition Did Not Violate Automatic Stay

Consumer Financial Services Law

Joy Denby-Peterson purchased a 2008 Corvette in July 2016, and several months later the vehicle was repossessed when Denby Peterson failed to make all of the required loan payments. After repossession, Denby-Peterson filed an emergency Chapter 13 Bankruptcy petition in the Bankruptcy Court for the District of New Jersey. In some circuits, a creditor is permitted to ignore a post-petition demand for the return of collateral that was lawfully repossessed pre-petition.

SBA Loan Site Visits: How to Prepare and What to Expect

Jimerson Firm

Conducting site visits are an important aspect of servicing SBA loans. Site visits allow lenders and CDCs to gain a first-hand impression of the borrower’s business operations, evaluate risks, and inventory the collateral.

What Are My Repayment Obligations Under Chapter 13 Bankruptcy?

Sawin & Shea

There are also unsecured debts like credit cards, medical bills, repossessions, and past evictions that get paid what the law states they are entitled to under an asset-based test and an income-based test.

Update: Supreme Court Resolves Circuit Split Regarding Pre-Bankruptcy Seizure

PBWT

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing.

1099-C: What You Need to Know about the Cancellation of Debt Tax Form

Credit Corp

So, if your debt isn’t canceled via repossession, bankruptcy, or other processes, cancellation could happen at any time. From early January to mid-February, you might receive a number of tax documents in the mail.