Wednesday, May 5, 2010

Practical Legal Advice: Avoiding Repossession

In these tough economic times you may feel that when it comes to having your car repossessed you have run out of options and its inevitable. But even if you are behind on your car payments you can avoid repossession. While a creditor can act in any way allowed by Florida law, repossession is not always their first choice. In many, if not most, instances where a debtor is late on a payment, the creditor will attempt to collect payments instead of repossessing the collateral. In some instances you can negotiate with the creditor and resume payments without further damaging your credit.

This not meant to replace consultation with a lawyer while this information is provided by Carolyn R. Jones a licensed Florida attorney to protect your rights you should always confer with an attorney which is a important decision not to be taken lightly.

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