My moms car was repossessed today. I'm gonna try to get it back for her. She needs a car to go to work.

I know I gotta get with the leasing company ( to pay the delinquent amount), the towing company ( to get the car Plus any storage fees), and the local police dept where the car was repossessed ( to get release forms for the tow company).

I have no idea what I might be in for. I will prob be splitting the total cost of all this with my brother. Anyone have any experince with getting back a car that has been repossessed? It happened in Chicago. Any words of advice? What kinds of fees will I be looking at here beyond the back payments of the car itself?

 

I have heard that you can file for bankruptcy and get it back. I don't know if your mom would go that route, but it is an option. You do have to do it ASAP tho.

 

Actually, I believe that if she hasn't filed bankruptcy yet, then the lender doesn't need to give it back. But, if the car was in her possession, and she filed bankruptcy, then they can't repossess the car...

 

Pardon my ignorance, but from what I've seen on TV (shows) you can contact the finance company and make arrangements with them and of course pay them for whatever payment you missed out on. So I suggest calling the finance company therefore you don't have to waste your time running around. Good luck.

 

I know what I have to do to get it back ( not gonna file for bankruptcy ) I'm just seeing if there are any other fees or hoops I gotta jump.through.
I was told I might have to pay a fee to have the vehicle's status removed from repo list by the police.

 

If she filed for BK before it got repossessed she would get what's called the automatic stay which protects her property from collection. If she continues to be delinquent after the filing the creditor may bring a motion to lift the stay which would allow the lender to continue collection against the debtor. If the vehicle was already repossessed the filing would only get rid of the deficiency and but not give you the right to receive the property back. Similar for homes in foreclosure (but part of a sheriff sale rather than a repossession). (I work for a BK law firm)