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Save My Car – Repossession Attorneys Rock Island, IL

Your car gets you to work, the grocery store, and most importantly to friends and family. Without a vehicle, even small distances can seem insurmountable. The loss of a vehicle is devastating both emotionally and financially. Repossessed vehicles are usually sold at auction after repossession for much less than what is owed. You are left to pay thousands without the vehicle to show for it. You could be paying for a car for years after it has been taken from you unless you do something about it.

Whether you are behind on payments, your car was repossessed, or you simply can no longer afford the payment, a Chapter 13 bankruptcy can save your car. In a Chapter 13 you can keep your car and repay what you owe over time and in some instances drastically reduce what you may owe. You also benefit by discharging your other debt, which may have made the car unaffordable in the first place.

If your car was repossessed and you do not want to keep it, then a bankruptcy will allow you to get rid of the debt on the car along with your other debt. After you have filed bankruptcy, you can get a loan for another vehicle. Your interest rate will be higher just after a bankruptcy, which is why we recommend purchasing a reasonably priced, reliable used vehicle.

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