Sheppard Law Offices
Columbus, Ohio Bankruptcy Attorney Kenneth L. Sheppard, Jr.
FREE Debt Relief & Bankruptcy Consultation
FREE Debt Relief Consultation Call (614) 523-3106 or (877) 505-9455
Sheppard Law Offices
TALK TO AN OHIO BANKRUPTCY ATTORNEY TODAY (614) 523-3106
While most creditors will allow for a grace period, often with loan agreements the creditor has the legal right to repossess your property at any time that your payments are in default. If you are facing repossession on your home, car, boat, motorcycle or other secured debt, the Columbus, Ohio debt relief attorneys at Sheppard Law Offices can help you to protect your property from creditors.
Whether you are filing for chapter 13 or chapter 7 bankruptcy, the Automatic Stay provision of U.S. Bankruptcy Code immediately prohibits creditors from collection actions. Since repossession is a collection action, the Automatic Stay includes stopping of repossession actions against your property. Therefore, once you have filed for bankruptcy you will not have to live in fear of having your property repossessed.
One of the methods in which Sheppard Law Offices can help you to keep your property is to seek a loan modification. While seeking or requesting loan modification does not provide immediate protection to your car, boat, motorcycle, jewelry, or other property from being repossessed like the Bankruptcy Automatic Stay, it may be a viable option to save your vehicle from repossession while adjusting the payment to an amount that you can afford. Once the agreement is in place with the creditor that has the lien, your property will be safe from repossession as long as you keep up with the modified payment plan.
In chapter 7 cases, you have the option to surrender your vehicle, to redeem your vehicle, or to reaffirm your vehicle loan. In order to reaffirm the loan under a chapter 7 bankruptcy your payments must be current. Therefore, while filing for chapter 7 may delay repossession of your property, if you cannot bring your payments current you will still likely have to surrender the vehicle.
For many, who wish to keep their property, filing for chapter 13 may be the most viable option if the payments cannot be brought current. Even if you are behind on your payments 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.
The Columbus, Ohio Bankruptcy, Debt, and Tax Relief lawyers at Sheppard Law Offices can help to stop your car or other property from being repossessed. The Central Ohio law firm offers a free initial consultation where you will speak directly with an attorney. Sheppard Law helps 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 (614) 523-3106.
Sheppard Law Offices
The Columbus, Ohio bankruptcy debt relief and taxation law office of Sheppard Law Offices, LPA is conveniently located just inside I-270 off of Cleveland Ave. Our offices provide a short drive from throughout Central Ohio including counties of Franklin, Delaware, Knox, Marion, Licking, & Fairfield. We regularly serve Debt & Tax needs of clients from Columbus, Westerville, Bexley, Dublin, Sunbury, Delaware, Fredericktown, Johnstown, Centerberg, New Albany, Gahanna, Pickerington, Grandview, Upper Arlington, Clintonville, Groveport, Pickerington, Pataskala, Reynoldsburg, Groveport, Lewis Center, Worthington, Granville, the Short North, Hilliard, Plain City, Grove City, Newark, Mt. Vernon, Canal Winchester, and Lancaster.
Columbus Ohio Office
2600 Tiller Lane, Suite A
Columbus, Ohio 43231
Telephone: (614) 523-3106
Newark, Ohio Office
843 N. 21st Street, Suite 108
Newark, Ohio 43055
Telephone: (740) 345-7138
Belden Village Tower, 200
Canton, Ohio 44718
Telephone: (330) 409-2876
Mt. Vernon, Ohio Office
11 West Gambier Street
Mt. Vernon, Ohio 43050
Telephone: (740) 392-0404
We are a debt relief agency. We help people file for protection under the U.S. Bankruptcy Code.