Kansas Repossession Attorney
Defense Against Repossession in Kansas
Repossession is most often done to seize automobiles from delinquent borrowers.
In this case when a borrower signed the credit contract or purchase agreement
it contained a condition which allows the creditor to repossess the automobile,
or whatever object was being secured by the loan. The two parties have
agreed in advance to the terms and conditions by which the object can
be repossessed in the case of delinquent payments. This is called a "self
help" repossession as the creditor can take the car or object back
without court action or the need to undergo a court proceeding. In addition
the original contracts may allow for the creditor to charge additional
fees to cover the repossession cost or even the lowered value of the car.
Kansas is a "self help" repossession state. This means that a
car can be repossessed, in accordance to the terms of the contract, without
obtaining a court approval to take the car. The law normally requires
that the borrower be notified and that the repossession takes place without
trespass or "breach of peace". A qualified Kansas lawyer skilled
at addressing such matters should be consulted in regards to your individual case.
Getting Relief and Protection from Repossession
Beyond the loss of one's automobile or possessions lie further financial
problems. Quite often the car or objects are sold at auction for at a
lowball price. This can leave an unsatisfied balance that the lender will
still seek to collect from the borrower. The negative data on a borrower's
credit report is not only quite damaging to their score but this black
mark can remain for seven years or more.
Often repossession can be stopped via a Chapter 13 bankruptcy handling.
In some cases property which has already been repossessed can be retrieved
by taking this action. Quite often the amount of a debt can be reduced
below existing balance. This can be of significant benefit if you owe
more on an automobile than it is worth.
Know Your Options. Call Rick Hodge, Attorney at Law, L.C.
Bankruptcy may not be your only protection against repossession. Rick Hodge,
Attorney at law, has practiced in this area for well over 14 years and
has defended the rights of hundreds of individuals in Kansas. If you are
facing repossession then that is a clear sign that you should seek financial
and legal guidance from a lawyer specializing in this area.
Contact a Kansas Repossession Defense Attorney
immediately if repossession and similar financial threats are creating
problems in your life.