Put One of the Largest Bankruptcy Firms in Michigan on Your Side

More Americans are struggling to keep up with their car payments, even as other economic indicators may appear to be on the rise. Some experts are saying that the auto loan subprime bubble may be the latest to burst. In 2014, data showed the rate of car repossessions had jumped 70% in the second quarter. If you are in this situation, we encourage you to contact Moran Law to discuss your options.

Schedule a complimentary case evaluation with us today. Call (214) 238-9608.

Vehicle Repossession & Michigan State Law

In the state of Michigan, according to the Business & Commerce Code, the “secured party has the right to claim possession of collateral upon the default of a loan unless other agreements were made in a legal contract.” In other words, your vehicle can be repossessed if you stop making payments. There does not have to be a court order.

You Have 10 Days to Take Action After Repossession

After your vehicle is repossessed, you have 10 days to take action before the creditor is legally allowed to sell it. If you are in this position, contact a bankruptcy attorney right away. We can help you by filing the required papers. We represent clients in Detroit, Flint, Ann Arbor, and Saginaw.

Our firm is experienced in helping clients:

  • Obtain “cram downs” on car loans
  • Stop repossessions
  • Design effective and workable payment plans in Chapter 13 bankruptcies
  • Regain repossessed property, including vehicles

Contact Our Bankruptcy Lawyers for a Free Consultation

You can have confidence choosing to work with Moran Law. We have helped tens of thousands of clients over our nearly 10 years in practice. Our lead counsel, Ryan Moran, has an Excellent Rating by Avvo and was voted one of the Top 40 Lawyers Under 40 by the American Society of Legal Advocates. You can rely on us during this difficult time.
Schedule a free financial empowerment session when you get in touch with Moran Law today at 855.783.2340.