Fighting Back Against Unlawful Car Repossession
If your car has been wrongfully and illegally repossessed, our Macomb, MI car repossession lawyer can help you fight back in order to protect your rights and save your car. There are state and federal laws in place to protect people from unlawful repossessions. If your rights have been violated by a repossession company, lender, car dealer, or other involved party, our firm can help you receive the justice that you deserve.
When you hire our firm, you can rest assured that your case and your car are in good hands. With over 100 years of combined experience across our dedicated team of attorneys, we have the skills and knowledge necessary to help you protect your rights and needs in the face of repossession. We offer service across the entire Southeast Michigan area and provide no-obligation consultations to all of our clients. We truly care about you and your case, and we will do everything we can to fight for you. To discover how we can assist you with your car repossession case, contact Gudeman & Associates, P.C. today.
Protection Against Unlawful Repossession
If a lender, repossession company, or car dealer has violated your rights and taken illegal actions in the process of repossessing your vehicle, there are steps you can take to receive justice and pursue saving your vehicle. In Michigan, there are laws that protect consumers from unlawful acts such as forcefully entering property such as your home or garage, deceitfully representing their identity or intentions, using force or intimidation, or disturbing the peace when repossessing your vehicle. If you have been the victim of one of these or another illegal action, or if your car was wrongfully repossessed, our Macomb car repossession attorney can take the offender to court to help you get your car back.
Our team can help you understand if your vehicle’s repossession was legal or not. If you have not defaulted on your loan and your vehicle has been repossessed, we can help you sue to have your vehicle and property returned. If the repossession was legal, we can help you take the proper steps within the redemption period to manage your payments and pursue the redemption of your vehicle.
The Importance Of Our Professional Assistance
In the midst of a repossession, victims can often feel overwhelmed by the process. We know that this is an emotionally and financially challenging time, and we will do everything in our power to help you understand the actions that are being taken against you and the potential actions that you can take in response. Our Michigan car repossession lawyer will ensure that you stay informed and involved throughout every step of your case.
If you have been the victim of a legal or illegal repossession, our team is ready to help you today. Do not hesitate to seek the legal assistance and representation that you need as you seek to save your vehicle. Contact Gudeman & Associates, P.C. today to schedule a consultation and discuss your case with our dedicated car repossession lawyer.
Voluntary Vs. Involuntary Repossession
Your Macomb, MI car repossession lawyer can help you get your vehicle and hold on to your possessions. At Gudeman & Associates, P.C., we’ve helped thousands of clients throughout Southeast Michigan. We’re familiar with bankruptcy, vehicle repossessions, and a broad field of finance-related legal fields, and now we’re ready to use our experience to help you. Read on to learn more about voluntary repossession.
Voluntary Repossession Explained
Voluntary repossession, also known as voluntary surrender, occurs when a borrower, realizing they can no longer meet the payment obligations, decides to hand over the property to the lender proactively. This option is typically chosen to avoid the consequences of involuntary repossession, which can be more severe and disruptive.
Choosing voluntary repossession can have several benefits:
Reduced Costs: By surrendering the property voluntarily, borrowers can often avoid paying additional fees associated with the repossession process, such as towing and storage.
Less Impact on Credit: While voluntary repossession still affects credit, it is generally less detrimental than involuntary repossession because it demonstrates to future lenders a level of responsibility in managing a difficult financial situation.
Control Over the Process: Borrowers can arrange the time and place for surrendering the property, which can provide a greater sense of control and reduce the emotional distress associated with the repossession process.
Involuntary Repossession Explained
Involuntary repossession takes place when the borrower fails to meet the loan obligations and the lender decides to reclaim the property without the borrower’s consent. This type of repossession is typically enforced by a repossession agent who is hired by the lender to physically retrieve the property.
The effects of involuntary repossession are notably harsher:
Increased Fees: The process often involves additional charges that the borrower must pay, compounding their financial strain.
Greater Impact on Credit: Involuntary repossession signals significant credit risk to future lenders and can remain on a credit report for up to seven years, making it more difficult to obtain loans in the future.
Legal Complications: If a borrower attempts to obstruct the repossession or if there is a breach of peace during the process, there could be further legal consequences.
Choosing Between Voluntary And Involuntary Repossession
Deciding between voluntary surrender and allowing involuntary repossession involves considering one’s current financial situation and the potential long-term impacts. If a borrower anticipates that they will not be able to resume payments soon, voluntary repossession might be the preferable choice to minimize damage to their financial profile and reduce overall stress.
However, before making this decision, it is advisable to explore all available options. Sometimes, lenders are willing to negotiate alternative payment plans or forbearance agreements that can provide relief without requiring repossession.
Legal Considerations
Understanding your legal rights and obligations is crucial when dealing with repossession. Laws vary by state, and certain procedures must be followed by creditors when repossessing property. For instance, lenders are typically required to provide notice and may need to offer the opportunity to catch up on payments before proceeding with repossession. Just to be safe, it’s a good idea to contact a Macomb car repossession lawyer you can trust.
How We Can Help
If you are facing the prospect of repossession and unsure of the best course of action, contact Gudeman & Associates, P.C. for guidance. Contact us today, and see how a Macomb, MI car repossession lawyer from our office can help.
How To Avoid Repossession Of Your Vehicle
Repossession is a daunting prospect, but your Macomb, MI car repossession lawyer can help. For more than 50 years, the team at Gudeman & Associates, P.C. has been helping clients with a diverse range of cases, including bankruptcy, car repossession and more. Read on to see how you can hold on to your vehicle.
- Communicate With Your Lender Early
If you foresee difficulty in meeting your payment schedule, reach out to your lender immediately. Lenders typically prefer to avoid repossession when possible, as it is costly and time-consuming. Open communication might reveal new payment options or temporary deferments that can make managing your payments more feasible.
- Request A Modified Payment Plan
You might be able to negotiate a revised payment plan that suits your current financial situation better. Some lenders may agree to lower your payments and extend the loan period or allow you to skip a payment and tack it on to the end of the loan term.
- Refinance The Loan
If you have made payments on time in the past and have good credit, refinancing might be a good option. This can lower your interest rate and reduce your monthly payment. Shop around for the best rates and terms so you’re sure that this move makes financial sense.
- Prioritize Your Spending
Assess your budget closely to see where you can cut expenses. Prioritizing your car payment as one of the essentials can help you make payments on time. Sometimes, cutting back on less necessary expenses can free up enough money to keep your vehicle from being repossessed.
- Seek Financial Counseling
Non-profit credit counseling agencies can offer guidance on managing debt and budgeting. They may help you set up a debt management plan that consolidates your payments at a lower interest rate, making it easier to pay down your debts and maintain ownership of your vehicle.
- Understand Your Rights
Familiarize yourself with the laws regarding repossession in your state. Laws vary, but generally, lenders are required to provide you with certain notices before and after repossessing a vehicle. Knowing your legal rights can provide leverage when negotiating with lenders. Your Macomb, MI car repossession lawyer can help you understand your next steps.
- Sell The Vehicle
If maintaining the vehicle is no longer viable, consider selling it before it gets repossessed. Selling it yourself typically results in a higher return than what you might get from a repossession sale, which could be enough to pay off the loan balance and possibly leave you with some remaining funds.
- Voluntary Surrender
If all other options fail and repossession seems inevitable, you might opt to voluntarily surrender the vehicle. This can reduce the costs associated with the repossession process that you would eventually need to pay and potentially lessen the impact on your credit score.
Contact Us Today
At Gudeman & Associates, P.C., we understand the stress financial difficulties can cause and the importance of maintaining your essential assets. Our team is here to provide guidance on how to manage your financial obligations effectively and avoid the pitfalls of repossession.
If you are struggling with debt management or facing the threat of vehicle repossession, contact us today, and see how a Macomb car repossession lawyer from our office can help.
