How To Get Back A Car In Repossession

Should You Reaffirm The Loan or Let it Go?

What caused you to get into the situation that you are in? Can you afford the insurance and upkeep of this vehicle and stay current with your payments? If you cannot afford these costs, then it is best that you allow them to proceed with the process and sell the car at auction. Remember, getting an auto loan after repo can be hard, but some lenders specialize in helping people who have challenged credit.

If you are going to file for bankruptcy, you should file before your car is sold. There is a chance that your bankruptcy lawyer can help you work out a plan to save the car. Based on the bankruptcy, you are filing, chapter 7 or 12, you can reorganize the debt. You should know that even if you fell behind in your payments, you have rights. Make sure that they are following the law when it comes to your repossession. Ask yourself if you can honestly afford this car before you make a deal to get it back.