Stop Repossessions

Imagine No Debt

Many people wrongly believe filing bankruptcy will automatically forfeit their car(s). The reality is that a bankruptcy may protect your vehicle and even improve terms of payment.  An experienced bankruptcy attorney will help you understand if a Chapter 7 bankruptcy or Chapter 13 bankruptcy is best for your situation.

Stop Vehicle Repossession

If your car has recently been repossessed, filing a Chapter 13 bankruptcy can force the car lender and repo company to return the vehicle immediately provided the bankruptcy is filed within 21 days of the repossession. It is important that you contact our office immediately as it takes time to gather the necessary documents needed to file your case. If you are facing repossession in the near future, filing bankruptcy will stop any car creditor or repo company from taking the car provided arrangements are made to pay the car loan.  These new arrangements are often more favorable than the original loan.

Change the Terms of Your Car Loan
If you file a Chapter 13 bankruptcy, your car cannot be taken from you.  You will be able to restructure your loan for a longer duration and usually a lower interest rate, helping you better manage your ability to pay your car payment. Also, if your car loan is over 910 days old (2 ½ years) and the value of your car is less than what you owe, a Chapter 13 bankruptcy means you only have to repay the value of the car rather than the remaining loan balance.

Can you file Chapter 7 bankruptcy and still keep your car?

You can keep your car even with a Chapter 7 bankruptcy, by meeting certain requirements and signing a reaffirmation agreement.  The reaffirmation agreement promises you will continue paying the car loan after the bankruptcy has been filed. In some cases it may be better to surrender the car or perhaps keep on one car, if you have multiple vehicles.  An experienced bankruptcy attorney can help you make an informed decision.

Meet with J.D. Graham for a FREE Consultation and learn how bankruptcy may be right for you.  Simply use the form below or call an office near you to schedule your consultation.

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Office Locations


1 Eagle Center, Suite #3A
O'Fallon, IL 62269
(618) 235-9800
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Granite City

1600 Pontoon Road, Suite B
Granite City, IL 62040
(618) 235-9800
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2721 S. Broadway (Rt. 37 South)
Salem, IL 62881
(618) 548-0083
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Mt. Vernon

4106 Broadway
Mt. Vernon, IL 62864
(618) 548-0083
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400 N. Keller Drive, Suite F
Effingham, IL 62401
(217) 342-0333
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