CALL FOR A FREE
INITIAL CONSULTATION
813.254.5696

BRIDGING YOU TO A BRIGHTER FUTURE

Tampa Car Loans & Repossessions Lawyer

The debt problems many people face are frequently compounded when they receive notification that their vehicle is about to be repossessed due to default of payments. For many people, this means much more than relinquishing the property. It means they no longer have transportation to their place of employment, further impinging on their financial situation. However, there are options available to people who are facing repossession of their vehicle.

At the Law Offices of Robert M. Geller, P.A., we have provided debt relief services to people throughout Tampa and surrounding areas since 1991. Our attorneys have extensive experience filing bankruptcy cases under Chapter 7 and Chapter 13 of the Bankruptcy Code, and have helped clients in addressing complex issues involving car loans and vehicle repossession. We counsel and advise clients on their legal options and assist them throughout the process. Depending upon your situation, we may be capable of helping you:

  • Keep or redeem your vehicle for less than the full amount owed (under a Chapter 7 or Chapter 13)
  • Keep or redeem the vehicle at a lower interest rate (under a Chapter 13)
  • Surrender your vehicle and discharge your obligation to repay the car loan (under a Chapter 7 or Chapter 13)

Vehicle Redemption in a Chapter 7 or Chapter 13 Bankruptcy

The market value of motor vehicles drops quickly, resulting in debt obligations that are much higher than what the vehicle is even worth. Chapter 7 of the Bankruptcy Code allows individuals to file a motion to redeem their repossessed vehicle if they can pay the fair market value of the vehicle in a single lump sum payment.

A similar option is available to individuals who are filing for bankruptcy under Chapter 13 of the Bankruptcy Code. If the vehicle loan is more than 910 days old and the vehicle was purchased for personal use, Chapter 13 bankruptcy petitioners are eligible to redeem the vehicle for its market value, rather than for the full amount owed on the vehicle loan. However, unlike individuals filing under Chapter 7, those filing under Chapter 13 have the benefit of up to 60 months to repay the full market value of the vehicle (through their Chapter 13 repayment plan). This allows debtors to eliminate the amount that is owed in excess of the market value of the vehicle. Alternatively, individuals filing for Chapter 13 bankruptcy may continue making car payments as they have in the past in order to keep the vehicle.

Surrender your vehicle and eliminate your debt obligations. It is important to understand that simply surrendering your vehicle in and of itself does not discharge your obligation to repay the car loan. However, when filing for Chapter 7 or Chapter 13 bankruptcy, you may be able to eliminate your debt obligation completely, if you are willing to surrender the vehicle. In these situations, the creditor may not collect anything that is owed on the car loan.

Contact a Tampa Car Loans and Repossessions Lawyer

To learn more about stopping repossession of your vehicle or how to redeem your vehicle through bankruptcy, contact our Tampa, Florida, law firm. Call us at 813-254-5696 to schedule a free initial consultation. Attorney Robert M. Geller is a certified specialist in Consumer Bankruptcy Law by the American Board of Certification *.

Visit our bankruptcy information center to learn more.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

* Accredited by The Florida Bar to certify lawyers in the specialty area(s) of consumer bankruptcy law.

Tampa Bankruptcy Law Blog

Top Three Bankruptcy Tips

Top Three Bankruptcy Tips

Filing for bankruptcy can be an overwhelming experience. Many people postpone filing to avoid the intimidation and anxiety they assume
Read More
Is there Such a Thing as Bankruptcy School?

Is there Such a Thing as Bankruptcy School?

If you’ve heard anyone talking about bankruptcy and what’s needed to successfully use it to remedy financial problems, you might
Read More
Three Important Things to Know about Bankruptcy and Taxes

Three Important Things to Know about Bankruptcy and Taxes

Bankruptcy offers relief when debts have gotten out of control. Chapter 7 bankruptcy results in a discharge of certain debts, which
Read More
What Happens When You are Sued for a Debt?

What Happens When You are Sued for a Debt?

If you’ve been served with a notice from a creditor that you’re being taken to court over a debt, you
Read More
Why Researching Bankruptcy Online Could Be a Mistake

Why Researching Bankruptcy Online Could Be a Mistake

In this day and age, the first place we turn for information is the internet. It’s convenient, free, and easy,
Read More
Why the Meeting of Creditors is the Scariest Part of Bankruptcy

Why the Meeting of Creditors is the Scariest Part of Bankruptcy

Filing for bankruptcy is a scary experience, but within the entire process from start to finish, the 341 Meeting of
Read More
How Do You Benefit from the Automatic Stay?

How Do You Benefit from the Automatic Stay?

Bankruptcy offers a variety of benefits. One of the most important is the automatic stay. Bankruptcy’s automatic stay stops bill collectors
Read More

The Secret Trick for Making the Most of Bankruptcy Exemptions

When you file for bankruptcy you take a risk. You’re risking that the choice you’re making now will improve your
Read More

Leftover Debt: What You Can Expect to Pay after Bankruptcy

Bankruptcy can free you from financial burdens that have plagued you for years. It can make your life easier and
Read More

Is Chapter 13 Bankruptcy the Best Option for You?

Deciding that bankruptcy is the right solution to help you with your financial struggles is a big commitment. Many people
Read More

Contact Us

Request a FREE Consultation

For The Next 5 Days Get A Free Book About Bankruptcy


 
comodo 10.0Robert Marc Geller
Robert Marc GellerClients’ ChoiceAward 2017 Robert Marc GellerReviewsout of 32 reviews LEA

We are A Debt Relief Agency.
We help people file for
bankruptcy under the Bankruptcy Code

Pay Online    

Office Locations

$Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405
Maps & Directions


Tampa Law Office Map

Satellite Office

$Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G

St. Petersburg, FL 33701
T: 727-532-3939
Maps & Directions


Map and Directions

At the Tampa Bay law firm, the Law Offices of Robert M. Geller, P.A., we help people with consumer bankruptcy matters in the Tampa Bay-St. Petersburg,  Florida communities such as Clearwater,     St. Petersburg, Tampa, Thonotosassa, Riverview, Lutz, Plant City, Brandon, Carrollwood, Wesley Chapel, St. Petersburg Beach, Lakeland, Mulberry, Dade City, Pinellas Park, Largo, Seminole, Odessa, Oldsmar and Lithia, and counties such as Hillsborough County, Pinellas County, Pasco County, Polk County and Manatee County.