The vehicle which you will be buying is mostly the collateral for loan and the financer has the right to seize it in case of non-payment or delay in paying installments.

1. Stop Vehicle Repossession By Hiring A Competent Attorney
Buying a new vehicle is a dream for someone who is serving his duties on minimum wages and
has a family to look after. Mostly the salary cheque you get at the end of the month is not enough
for getting a brand new car or motorbike. However you can surely get the vehicle financed and
be the proud owner by paying the debt amount in installments that suits your financial condition.
Nowadays getting personal loan for buying vehicle is quite easy and very fewer formalities are
involved in the procedure but you need a guarantee or collateral. The vehicle which you will be
buying is mostly the collateral for loan and the financer has the right to seize it in case of non-
payment or delay in paying installments.
Apart from repossession of the vehicle the financer can also drag you in legal issues of
disobeying the rules and regulations implemented by their organization. This situation can be
worsened, if the financer also asks you to pay the deficiency amount during financial crisis that
made you ineligible to pay the debt amount. Deficiency amount is the money which the bank has
not recovered after selling the vehicle that legally the debtor has to payback. Therefore by not
paying the loan installments on time, you will be losing the vehicle and will also have to pay the
deficiency amount. All this accounts to a hell lot of trouble and if you are also facing this
situation, it is advised to find out about the effective legal ways to stop repossession of car or the
vehicle which you have financed.
Stop Foreclosure By Hiring A Competent Attorney
A competent attorney who has experience dealing in cases that involve vehicle foreclosure can
immensely help you getting some legal relief. The attorney can efficiently manage all the pros
and cons of stopping vehicle repossession. He can get a legal order from court that can stop the
bank or financer from seizing the vehicle. To stop foreclosure attorney can get all the legal
documentation work done without any hassle. Following are few more things that a competent
attorney can do for you:

2.  Attorney can help in creating an easy repayment plan that matches your financial
situation. You can pay the debt amount through this plan and save yourself from financial
crisis while retaining the vehicle.
 He may also legally get your debt reduced by claiming that you are bankrupt and could
not pay the huge amount.
 In case you don’t want to own the vehicle, he can help you in getting rid of the deficiency
amount which the bank or financer has asked you to pay.