One worry that you may have about falling behind on your vehicle payments is that you may soon be at risk for repossession. The longer you wait between going into debt and filing for bankruptcy, the more time creditors will have to repossess your vehicle.
Oregon consumers and their counterparts around the country can often feel taken advantage of or threatened by debt collectors. When debt mounts to the point that repossession of a vehicle, wage garnishment or other actions are feared, situations can appear grim. It can be difficult to know how to stop creditor harassment and how to determine the best course of action.
Economic challenges have plagued many Oregon residents, especially since the recession began. Even with some signs that the economy is rebounding, many people continue to struggle and face ongoing threats of repossession, wage garnishment, bankruptcy or more. Asset forfeiture can affect a person’s ability to keep a car, a home or any other type of personal property that has some real value.
Consumers struggling through the continued challenging economy know the fear of losing valuable possessions as well as the stress of being unable to pay their bills. Depending upon the situation, a creditor can garnish your wages or take your car, home or other belongings. The need to stop repossession, garnishment and more is shared among many Oregon residents.