If you finance a vehicle, the creditor retains certain rights and an interest in it until it is paid completely off. After paying the initial deposit, the remaining amount in addition to interest will be repaid in monthly installments. Defaulting on a single payment may not lead to any trouble, but doing it more than once can result in repossessions that a lawyer can help you prevent by filing for bankruptcy.
If you have reason to believe that your vehicle was taken without legal permission, you should contact an attorney immediately. Repossessions in Longview, TX can absolutely be done illegally, and an attorney would easily recognize an illegal repossession and raise the issue with the lender. It is deemed illegal if the vehicle was taken using violence, threats, or by breaking into a locked garage, it had no interest in the defaulted loan, or you did not default on payment.
To get more information, speak with a repossessions lawyer about your case from the start, even if you are not quite sure whether you can have your car returned. This is because you can stop repossession by filing bankruptcy or you can fight for a vehicle to be returned to avoid the deficiency judgment. A deficiency judgment will potentially cause the garnishment of your wages and other penalties, which a lawyer can help you fight.
In any case, you have the right to your vehicle, and there are many ways in which it can be illegally taken from you. If this is the case or if you want to avoid a potential repossession in the future, calling on a lawyer will help your case.