Trusted Charlottesville, Virginia Law Firm Works to Stop Repossession of Your Personal Property
Any time you take out a loan to buy personal property, such as a car or furniture, the lender, or creditor, retains a security interest in that property as collateral against nonpayment, or default, of the loan. If you fail to make payments on time, the lender may try to repossess that property. Our attorneys at the Miller Law Group, P.C., have significant experience in Virginia law and can help you keep your personal property safe from creditor repossession.
Why you should act fast to stop repossession
Under Virginia law, a creditor may repossess collateral only if you are ten days or more past your loan payment due date. You thus have a ten-day grace period in which to make the payment along with any late fees or penalties. If you fail to pay within this time, the creditor may repossess the property at any time without providing any notice. If you’ve missed a loan payment for any reason and are concerned your property may be repossessed, contact the Miller Law Group, P.C. immediately. Our bankruptcy law attorneys can advise you whether filing for bankruptcy under Chapter 7 or Chapter 13 will help you stop repossession.
Know your rights in a repossession
It is important to know your rights under Virginia law when it comes to repossession. In certain circumstances, if a creditor repeatedly accepts a late payment or agrees to change your payment due date, he or she may be unable to repossess your property. Although a creditor may repossess collateral at any time without prior notice, he or she is not allowed to attempt to repossess your property in a manner that breaches the peace. The following actions and others are considered a breach of the peace:
- Using or threatening physical force
- Entering your home or removing property without permission
- Removing property from a closed garage
- Pretending to be a law enforcement agent
- Refusing to leave your property
If a creditor commits these or other acts, you have the right to sue the creditor for damages and prevent the sale of your property. Our attorneys help you understand your rights regarding repossession and can help you stop harassment by creditors.
Contact us for help preventing repossession
If you’re at risk of having your personal property repossessed, we can help. At the Miller Law Group, P.C., we know that time is of the essence, so we work quickly and efficiently to keep your property safe. Our attorneys and professional staff work hard to protect what’s important to our clients in Albemarle County and surrounding counties: their assets and their families. Call us locally at 434-202-5293 or contact us online today for your FREE APPOINTMENT. Our law firm is located behind the Senior Center in Charlottesville and is handicapped-accessible. Parking is available outside the door.
Serving the communities of central Virginia, including Albemarle, Augusta, Buckingham, Charlottesville, Culpeper, Fluvanna, Greene, Louisa, Madison, Orange, Harrisonburg, Staunton and Waynesboro