Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

3 Actions to Take if the Repo Man is After Your Car in Missouri or Illinois

If the repo man is after your car, let’s face it; you have a limited amount of time until you have to make a plan. Here are three things to think about before you make any moves that you think may be the best for you and your family.

1. Take an honest look at your financial situation—and determine if the future is bleak. It is one thing if your situation is temporary. But, if your car is in danger of repossession, debt is probably affecting other areas of your life. Need protection from foreclosure? Need credit card debt help? This problem may be larger than just finding out how to avoid the Repo Man.

2. Look at your options. You could call your lender but, in this economy, everyone is calling his or her lender for some extra wiggle room. You might be gambling with your financial future by putting all your eggs in one basket. Missouri and Illinois Chapter 7 and Chapter 13 bankruptcy may be an option you haven’t thought of—and you can request more information about it for free by getting a copy of my Missouri and Illinois bankruptcy book, “Get Out of Debt: Secrets Your Creditors Don’t Want You to Know.”

3. Don’t wait to take action. Whatever you do, don’t wait. If your car has been repossessed, a St. Louis Missouri or Fairview Heights Illinois bankruptcy lawyer may be able to get it back for you. But, remember, you only have a limited amount of time to take action.