Automobile Repossession Lawyer in Queens
The consequences of falling behind on your car loan is severe. The lender can repossess you vehicle and then auction the vehicle off and sue you for the difference from what you had owed and what they received at the auction. The balance is known as a “deficiency balance”. The balance after the car is sold is unsecured, nothing serves as collateral, so by filing for bankruptcy - you can wipe that debt out. If you do not pay the creditor or file for bankruptcy, they can sue you and obtain a judgment.
If your debt is secured, it is guaranteed by collateral, such as a home or vehicle. If you default on your car payments, your lender has the right to take back your vehicle without filing suit. In some cases, they can repossess your car without even notifying you beforehand. Because repossession can occur within a matter of weeks after you miss a payment, you must act quickly to avoid losing your vehicle. You must also fully understand your rights so you can hold your lender accountable if your rights are violated.
At the Law Office of Seni Popat, we can help you understand your rights as a consumer and defend your vehicle against repossession. Our car repossession attorney has years of experience helping clients manage overwhelming debt and avoid the consequences of owing creditors more than they can pay.
How to Stop Car Repossession in New York
As soon as you know you might miss a car payment, you should get in touch with your lender. They may work with you by extending the terms (thereby lowering the monthly payments) or adding missed payments to the end of the term.
If your lender repossesses your car, you should receive two notices: 1) a notice telling you your car has been repossessed, and 2) a notice telling you your car is about to be sold. Unfortunately, the repossession may not be the end of the collection process. If the proceeds from the sale do not cover the entirety of the loan, your lender may sue you for the remaining balance.
If you were unable to prevent repossession, you may be able to reinstate your contract if you pay what you missed. You might also be able to get your car back by:
- Paying the entire balance (including what you previously owed and what it cost the lender to repossess your car);
- Repurchasing the car at the auction (and, if you buy it for less than what you owed, paying the remaining balance); or
- Filing for bankruptcy (thereby triggering the automatic stay, which prevents your lender from selling your vehicle during the bankruptcy process).
If you have the opportunity to defend yourself in court, you may be able to argue that your lender hasn’t followed proper repossession protocol. They may, for example, have “breached the peace” during the repossession process by taking your car from a closed garage or even threatening you with violence. The repossession could also be invalid if your lender failed to sell the car in a commercially reasonable manner, meaning they sold it for far less than the fair market value. Finally, they might have waited too long to sue you, exceeding the applicable statute of limitations. Also, if they are suing you, can you wipe the debt out in bankruptcy due to an automobile repossession.
Bring Your Case to the Law Office of Seni Popat
Your vehicle is not just an asset—it is essential for countless tasks, including commuting to work, taking kids to school, buying groceries, and much more. All of us experience unfortunate circumstances that may wreak havoc on our finances, and falling behind on payments does not make you an irresponsible or immoral person. You deserve the highest level of support when facing the threat of repossession, and we are ready to provide that support. Speak with a car repossession attorney in Queens today.
I had the pleasure of working with Seni Popat. He is a Top Professional!- I Gie – via Google
Law Office of Seni Popat is the place to get help.- Willie Kornegay - via Google
He is very knowledgeable, professional, helpful and was readily available to guide me and advise me through the filing process.- James Potter - via Google
Seni was absolutely fantastic.- Nicole H. - via Google
Mr. Seni Popat is THE BEST bankruptcy lawyer there is.- Yasmeen Smith - via Google