If you are facing the potential of losing your vehicle, you have every right to be concerned. In addition to the inconvenience of not having transportation to run simple errands, take children to school, or help your children get to their ballgames, you may also face challenges getting back and forth to work. This means your earnings will be diminished, and you will be facing additional financial challenges.
Immediately after falling behind on your first car payment, you should seek immediate legal help from an attorney who has experience handling consumer protection law. An attorney may be able to help you renegotiate the terms of your car loan with your current lender or negotiate an option that will prevent repossession. In extreme cases, it may be necessary to file for bankruptcy protection which would stop a repossession effort immediately.
Keep in mind, as a debtor you have rights that creditors are not obligated to inform you about. Contact Parker Law Firm if you are in Gwinnett County or the surrounding areas and let us help you meet these challenges head-on. Ignoring this problem will not make it go away, it may only delay action which could ultimately cost you your vehicle.