Auto Repossession
Affordable, Transparent Pricing with Flexible Payment Options
We provide a competitive, flat-fee structure for our services, with discounts available for clients requiring assistance with multiple issues. Payment plans are also available for added convenience. For automotive credit concerns, our services start at $350, depending on factors such as the outstanding balance, lender requirements, and any necessary title documentation.
Our comprehensive service includes:
- Document Collection – Gathering the essential documents to thoroughly assess your case.
- Case Evaluation – Conducting a detailed review of your documents to provide a clear, informed opinion tailored to your situation.
- Rights Advocacy – Supporting you in asserting your rights regarding debt collection and credit reporting issues.
- Settlement Assistance – Upon request, negotiating directly with lenders to pursue favorable settlement terms that align with your credit goals and reduce potential legal liabilities.
Our team is committed to delivering exceptional value with transparency, professionalism, and a focus on results.
Understanding the Impact of Repossession on Your Credit and How We Can Help
Repossession can leave a significant, lasting impact on your credit report, often being evaluated more stringently by lenders due to its status as an installment account. For clients facing the repercussions of repossession, several critical issues frequently arise that our firm is equipped to address:
Common Issues with Repossession on Credit Reports
- Inaccurate Credit Reporting of Repossession Date
When repossession is reported inaccurately, especially after being sold to a third-party debt buyer, it often results in incorrect dating. This can cause the debt to appear more recent on your credit report, a process known as “re-aging,” which can significantly harm your credit score. We work directly with lenders to correct such inaccuracies, ensuring your credit report reflects accurate information. - Incorrect Balance Reporting
In many cases, the balance reported on credit records does not consider the proceeds from the sale of the repossessed vehicle. This omission can constitute a reporting violation, as the balance should reflect any payments received from the sale. Our team works diligently to have these inaccuracies corrected for a more accurate portrayal on your credit report. - Unsettled GAP Insurance Coverage
When clients experience an accident involving a financed vehicle, they may find that the GAP insurance only partially covered the remaining balance. This often results in the lender listing the vehicle as a repossession on the client’s credit report, despite insurance payments. Our firm can address these cases to ensure proper credit reporting that reflects the full extent of GAP coverage. - Charged-Off Auto Loan with No Actual Repossession
Occasionally, an auto loan may be marked as repossessed even if the lender did not physically reclaim the vehicle. In such cases, clients may lack the title, making it challenging to sell or dispose of the car. We negotiate with the lender to secure a settlement that can result in a title transfer, allowing clients to regain control over their asset. - Deficiency Balance Lawsuits by Lenders or Debt Buyers
Lenders increasingly pursue deficiency balances—the remaining balance after a repossessed vehicle is sold—through lawsuits. Our firm can defend clients facing these legal actions, helping to negotiate settlements that mitigate potential financial damage. Learn about Auto Lawsuits and Auto Judgments
How Our Firm Can Assist in Improving Credit Reporting Post-Repossession
In most cases, we are able to assist clients in addressing auto repossessions on their credit reports, negotiating with lenders to adjust credit records to a more favorable status. In certain situations, we may also secure the removal of the tradeline or a settlement on the account.
Understanding Texas Laws Governing Repossession and Debt Collection
In Texas, repossession practices fall under the Texas Business and Commerce Code § 9, while debt collection procedures are regulated by the Texas Finance Code § 392. These statutes provide a framework of consumer protections that we utilize in advocating for fair treatment and accurate reporting for our clients.
If you’re dealing with the aftermath of a repossession and its impact on your credit, our firm offers expertise in negotiating and correcting credit reporting errors, helping you reclaim financial stability and creditworthiness.
