Sherman Oaks Repossession Lawyers
The average cost of a new car is around $50,000. Even used cars are incredibly expensive these days. In either case, whether buying new or used, many car buyers choose to finance their vehicles. Financing is a system in which a financial institution—which could be a bank, credit union, online lender, dealership, or a finance company—lends you money to buy the vehicle, and in exchange you pay for the car, and the interest, over a specified time period. It is a relationship that benefits both parties: the buyer and the lender, as well as the dealership and the auto manufacturer. However, if a borrower falls behind on their payments, the lender may end up repossessing the vehicle, a nightmare scenario for the car owner. Yet, not all repossessions are done legally. If your vehicle has been repossessed, we urge you to consider your options carefully. By working with a qualified Sherman Oaks repossession lawyer at Wadhwani & Shanfeld, you may be able to get your car, SUV, van, RV, or truck back.
Examples of Unlawful Repossession
Accounting errors or internal administrative mistakes can sometimes cause a lender to repossess a vehicle whose owner was current on their payments. Even though the borrower was not at fault in any way, it can be impossible for an individual to reason with a lender without being backed up by an attorney and the threat of a lawsuit. However, there are many other examples in which a car can be illegally repossessed, even if the borrower was not current on their auto loan payments. These examples include:
- Repossession without issuing you a notice of repossession
- A lender/repossession company making physical threats, either against you or others before, during, or after the repossession
- A repossession company or person causing physical harm to you or others
- A repossession company bringing police along without a court judgment
- A repossession company cutting a lock, gate, or fence
- A repossession company entering a private, closed garage
- A repossession company entering your home
If a repossession company or person violates the peace in any way, or commits any of the above acts, you may be able to get your car back, plus damages for the unlawful repossession.
Get Your Vehicle Back After a Lawful Repossession
Even if the dealer, lender, or repossession company followed the law to the T when repossessing your vehicle and did not commit auto fraud of any type, you may still be able to get it back by filing for Chapter 13 bankruptcy. By filing Chapter 13, the borrower gets to retain ownership of their property while paying back what they can afford during a specified time period, after which the remaining debt is often discharged.
Call a Sherman Oaks Repossession Lawyer Today
Having your vehicle repossessed is a traumatic, painful experience. Many people feel entirely hopeless after such an experience, yet most people still have legal options at this point. To take matters into your own hands, contact the Sherman Oaks repossession lawyers as Wadhwani & Shanfeld today at 899-996-9932 to schedule a free consultation.