Moving Forward From Repossession Isn’t Impossible
Dealing with repossession is emotionally difficult and legally confusing. Creditors often will tell you anything to try to get money, and repossession is a common threat. When do you know that it’s real? How do you handle it if it is?
You don’t have to shoulder the stress by yourself. Christine Wolk is an established bankruptcy attorney serving the community of Oshkosh for more than three decades. If you have questions about repossession, how to deal with it and how to avoid it, call our firm. We can help.
What Does Repossession Mean For You?
When someone contacts you and says they intend to repossess a belonging, you have several options available to you.
- Pay the balance required. This is obviously the most preferable option. However, in most cases, if you could afford to pay the balance you would not be at the stage of repossession.
- Negotiate a modification to the terms. Sometimes lenders will accept modified terms in lieu of paying a balance. You might agree on a smaller payment amount, or some other difference in terms.
- Accept repossession. It’s important to know that even if a lender repossesses something, their repossession agent may not cause what is called a breach of the peace. That means that they may not be violent or disturbing to you or your family.
Contact The Firm For Relief From Repossession
If you think repossession may be in your future, you should talk with an attorney as soon as possible. You have more options the sooner you talk to someone. Call our firm today at 920-385-5621 to meet with attorney Wolk, or send us a message through our online contact form.