The automatic stay in bankruptcy is a powerful tool; it not only protects you against Creditor harassment, it allows you to protect your property.
Even if a creditor has repossessed your vehicle, you still might be able to get it back, if you act quickly. The law requires creditors to wait before they auction off your vehicle, an din that window Chapter 13 can help you.
Chapter 13 is a powerful tool for saving a vehicle. Not only can you get caught up on delinquent payments, you may be able to substantially reduce the interest rate (to about 4 or 5 percent), and even reduce the balance, if you've had the car for more than 910 days.
Once the Chapter 13 is in place, the automatic stay means that in order for a creditor to repossess your car, they have to go through the bankruptcy Court and get permission - which means going through your attorney. This gives us an opportunity to deal with creditors, enforce your rights, and solve problems before the tow truck is allowed to go out.