How Long Do You Have To Get Your Car Back After A Repossession?
So you’ve just experienced possibly one of the most frustrating experiences many car owners experience, a car repossession. You’re probably wondering what steps you should take to get your car back as soon as possible, and as cheaply as possible. This article will highlight what steps you need to take to get your car back, and how long you have to do so.
Georgia Code Section 10-1-36 (10 Days)
According to Georgia Code Section 10-1-36, your vehicle/car lender is required to notify you that you have the right to get your car back within 10 days of the repossession. Now there are two options in order to get your car back within that 10 day grace period. The first option being the obvious, pay what you owe. However, that is not always an easy or realistic option for most people in a car repo situation, which leads you to the second option; filing for bankruptcy. Filing for bankruptcy is a fantastic way to get your car back immediately, save a lot of money in the process, AND only repay a fraction of the debt you have collected over the years. Not only does filing for bankruptcy make more sense than paying the debt you owe on your car, but you will also be saving money in the end on all financial spectrum’s.
What if I wait longer than 10 days after a repossession?
If you decide to wait longer than 10 days to either file for bankruptcy or try to pay off the debt you owe on your car, your vehicle will be put up for sale on the Georgia Auction, and almost always will sell on the first day. It is vary rare a repo car does not sell on the first day because your car will be sold at either less than it is worth, or exactly it’s worth, due to the fact that it is an “auction.”
Call MyATLLaw NOW to get your car back 404-800-4001
If you’re facing an auto repossession, call ATL Law immediately, and we can get your car back for $0* down, and get you on a repayment plan so that you only have to pay back a fraction of your debt through a Chapter 13 Bankruptcy. You wont even have to go to court, and will likely have your car back in your possession within hours of the repossession. We are experienced attorneys who deal with repossessions everyday.