A creditor will repossess the debtor’s property if they fail to pay their creditor in due time. Any property they’ve put up as collateral or a measure of the security interest will witness repossession if they fail to pay in time, explains the Legal Information Institute at Cornell University.

If you’re subjected to the above, there are ways you can secure yourself from this; however, if you fail to do so, you may need to hire a repossession lawyer. Let’s discuss five signs that you can keep highlighted to know when to hire a repossession lawyer. If the following reasons resonate with you and you’re looking for repossession lawyers in Texas, schedule a consultation with Joel Gonzalez to know your options.

5 Signs You Need A Repossession Lawyer:

1. Wrongful Repossession:

If you’re still within the bounds of your legal contract, and your lender repossesses your assets, you have the right to question the act. Certain cases may require hiring a repossession lawyer if you’re being treated unfairly.

For example, you’re keeping up with your monthly payments, and your contract states you’re not a defaulter until 30 days later. An example, at Nolo Shares, if you’re a week late with your payment and your lender repossesses your asset in question, you’re not in the wrong. You may require a repossession lawyer to review technical jargon and retrieve your asset.

2. You Want A Repossessed Asset Back:

The Office of the Attorney General at Washington State notes up until your repossessed asset is sold or within a bracket of 21 days after receiving notice from your creditor; you do have the right to want your repossessed asset back. However, this will greatly depend on how your contract is structured. To follow through with this process, you must contact a repossession lawyer to help you with technicalities. Joel Gonzalez’s office can help you deal with such a situation.

3. Are you serving in the Military?

The Servicemembers Civil Relief Act (SCRA) can help protect you if you’re an active military member. In this particular case, your lender must attain a court order before they can repossess your item. You may need a lawyer to help you with the details. If you opt for repossession lawyers in Texas, then Joel Gonzalez is a decent option.

4. Avoid a Deficiency Judgment

Deficiency is the amount the debtor owes their creditor after a repossessed item or asset has been sold at a lesser value. If the debtor owes a creditor $5000, but the asset was sold at $2000 after repossession, the debtor owes an additional $3000. To tackle this and avoid being sued, you may need to hire a repossession lawyer to help elevate a defense to the deficiency. Your attorney can help fight your case for you.

5. To Prevent Repossession

If you’re consistently falling behind on your payments and may face repossession soon, contact a repossession lawyer, especially if you’re already in your lender’s bad books. To protect yourself from further harm, contact a repossession lawyer who can help you come to terms with a possible solution.

Key Takeaways

Knowing when to hire a lawyer is critical. With cases such as repossession and tough cookies such as vendors, lenders, and creditors, opt for help from a professional. If you’re looking for a repossession attorney in Texas, schedule an appointment with Joel Gonzalez.