"Can A Creditor Take My Only Car"
If you're struggling to make ends meet, the last thing you want is to lose your only means of transportation. But can a creditor actually take your car?
It depends on the type of debt you have and the laws in your state. If your car is used as collateral for a secured loan, the creditor can repossess it if you default on the loan. For example, if you took out a loan to buy your car, and put the car up as collateral, the lender could take back the vehicle if you don't make your payments.
In some states, creditors can also put a lien on your car. This means that if you sell or try to refinance your car, the creditor gets paid first. But even with a lien, the creditor usually can't repossess your car unless you default on payments.
The Law Offices of Omar Zambrano has helped thousands of people and also them businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706