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Different types of car repossession

On Behalf of | Mar 27, 2019 | Bankruptcy, Personal Bankruptcy

There are several circumstances by which a third party can repossess your vehicle. After a towing company repossesses the car, the owner has up to 10 days to contact the party to obtain any personal belongings that were inside the vehicle at the time of repossession. 

You have rights against creditors, but the problem so many Louisiana residents face is that they do not know their rights. A creditor can repossess your vehicle only through three ways. If someone plans on taking your vehicle away before or after you file for bankruptcy, you need to make sure you have done everything in your power to keep it. 

The voluntary repossession method

Many creditors utilize this method when they try to advise you that signing up for voluntary surrender of your car is in your best interest. If you receive any paperwork along these lines, then you must remember that you do not have to sign. Refusing to sign means the creditor cannot repossess your car. There may be some creditors who make it sound like you have no choice, but when the word “voluntary” is on the papers, you have a choice. 

The self-help method

Louisiana also permits this extremely restricted method. With it, there is no reason to sign a voluntary repossession form. As long as the creditor has performed all the steps correctly, the company can take your car legally without your signature. However, there is a very good chance the creditor has messed something up. You will need to consult with your lawyer about how to fight this method. 

The court order method

It is also possible for creditors to go directly to a judge to acquire a court order to repossess your car. You do not have to sign anything, but a deputy sheriff can come out to your property to take your vehicle. Do not fall victim to any of these; protect yourself and your property. 

Disclaimer – Attorney Advertising. Under Federal Law, we have been designated aDebt Relief Agency and we help people file for bankruptcy relief under theBankruptcy Code. This information is not intended as legal advice and noattorney-client relationship is created. Results may vary. Results not guaranteed.Dramatization – not actual clients in pictures and videos. Thomas C. McBride,attorney in Alexandria, LA.