J Thomas Black
Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization

 Repossession Man or Repo Man is Active This Week in Houston. They hate that, they like to be called "Recovery Agents." It's not quite as descriptive, however.

We have had three calls just in the past two days from folks facing a repossession of their vehicle. Two of them have been because of "title loans" that they took out, after they had paid off their cars. These are typically very high interest rate loans. If you are in danger of having your car or truck repossessed, filing chapter 13 bankruptcy can immediately stop the repossession.

We do "emergency filings" for people that are in that situation. Once the chapter 13 is filed, an "automatic stay" or federal court order goes into effect, that tells the recovery agent that they must stop any actions to repossess the vehicles or collect money from you.

if your vehicle has already been repossessed, you own it until it is sold. So, we can still file chapter 13 up until the day that it is sold, and they have to stop the sale, and return the vehicle to you. But don't wait too late, once the vehicle is sold by the finance company, it is too late to save your vehicle. Call the office at 713-772-8037 and come in as soon as you can, if you are facing a repossession.

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