A common reason for Chapter 13 bankruptcy filing is to protecting a vehicle from repossession. When a car is repossessed, the owner has approximately 20 days to either pay the balance in full with penalties or file a bankruptcy to keep the car.
After a bankruptcy is filed, an automatic stay must be sent to the financer as proof of filing. An automatic stay in a Chapter 13 will prevent the financer from auctioning the vehicle. It is crucial for an attorney to provide the financer with proof of filing to protect the vehicle before the vehicle is sold.
A client came into a Wisconsin branch and met with Geraci attorney Andrew Golanowski. His electricity was going to be disconnected and his car had been repossessed the night before. Attorney Golanowski was able to file his case the same day to stop the auction of the car and keep the lights on.
After the case was filed, notice was sent to the vehicle financer to stop the auction. However, the creditor claimed the car was about to be sold. Another experienced Geraci attorney Joseph Blaha contacted the financer and the auction company and discovered the financer confused which company was selling the car. Attorney Blaha stopped the sale and the client was able to drive home and turn on his lights.
Without the help of Geraci attorneys Blaha and Golanowski, this client would have been left without light and a vehicle. It is the extra step by Geraci attorneys that makes your bankruptcy experience a happy one.