Hiding a vehicle likely will not prevent repossession

When you purchased your new vehicle, you may have been in a stable financial spot and felt that you could handle the payments. However, after a sudden setback — or multiple setbacks — you may have found yourself in dire financial straits. As a result, your car loan payments may have continually gotten pushed to the side, and now, you have defaulted on your loan.

Because the idea of returning the car does not seem appealing due to needing it to get to work or carry out other tasks, you may wonder about your options. You may feel a great sense of panic if the creditor begins to take repossession actions against you in hopes of obtaining the vehicle. Due to feeling backed into a corner, you may consider hiding your vehicle.

Unrealistic option

Though the thought of hiding your car may seem like it would help keep it in your possession, this does not stand as a truly realistic option. As mentioned, you likely need your vehicle in order to get to work, take your kids to school or run necessary errands. If you hide your car, you would still end up being unable to carry out those tasks, as hiding your car involves not using it, and you essentially place yourself in a more difficult situation.

Additionally, repossession agents can take the necessary steps — within reason — to obtain the vehicle they have been assigned to repossess. This means that the person could go onto your property in order to look for and obtain the vehicle, as long as the individual does not breach the peace in order to do so. Breaching the peace could include using physical force or causing physical damage in order to reach a vehicle.

Illegal option

You may also want to understand that intentionally trying to hide a vehicle in hopes of avoiding creditors is against the law. Therefore, taking this action may result in not only  hardships when it comes to getting where you need to go, it may also lead to criminal charges that can prove even more difficult to address.

Beneficial and legal option

In order to more effectively deal with repossession attempts, you may want to consider filing for bankruptcy. A bankruptcy petition can effectively halt repossession efforts when filed in a timely manner. Therefore, if you have received notice that your vehicle may soon be repossessed, you may want to explore your bankruptcy options and better understand how this route could help you legally fight for your vehicle.

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