Posts Tagged ‘debt’

Facing The Loss of Property Through Repossession

Saturday, February 5th, 2011

People who are deeply in debt often miss installment payments on property that they have acquired.  When a debtor fails to pay all required payments on property they have purchased there is the potential for the creditor to pursue repossession as a recourse for non-payment. Repossession is commonly explained as an occurrence that happens when a creditor takes back property because the buyer has not made all required payment.  This taking back of property can be a tremendous financial jolt to a debtor.  It often happens because a debtor has missed required payment on an installment agreement to purchase property.  This failure to pay may be based on a number of reasons including just not having enough money to pay all necessary bills, unfair practices of a lender and/or investments turning bad.  Money related problems can have a negative effect on a person’s life in many different ways.  Rather than despair over the threat of repossession a person should move assertively forward to address the problem by seeking a resolution.  Discussing financial issues with an experienced licensed debt relief lawyer may help relieve anxiety and provide a start to possibly resolving  not only the threat of losing property to repossession but overall debt difficulties..

The information you obtain in this article is not, nor is it intended to be, legal advice. The reading of this article does not establish an attorney-client relationship.  This article is not a substitute for consulting with a licensed attorney.  You should consult an attorney for advice regarding your individual situation.

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