If you’re struggling with debt, it’s important to remember that you’re not alone: millions of Americans, for example, are struggling with subprime auto loans with high interest rates, and failing to keep up with these costs can result in reduced credit scores, lawsuits, and even auto repossession.
Unfortunately, debt-collection for subprime loans is a profitable business in the United States, and many Americans struggle with auto loan debt and the risk of repossession for years on end. Furthermore, high interest rates and interest-accumulation over time make repayment even more difficult, especially when the debtor no longer even owns or uses the vehicle for which the loan was needed.
If you are being harassed by creditors or at risk of having your vehicle repossessed, schedule a free consultation with an experienced bankruptcy attorney to evaluate your financial situation and understand your options for seeking relief and recovery. “The sooner, the better” generally applies if you are behind on payments for your car, truck, or motorcycle, and your attorney will also help you understand if, and how, you can protect vehicles and other valuable property during Chapter 7 bankruptcy.
If you are struggling financially and considering filing for Chapter 7 bankruptcy, you’re not alone. Contact an experienced bankruptcy attorney today for a free consultation.