Voluntary repossession is just that: voluntary. Creditors will often try to sway you to believe that you must sign a document, but you are not legally obligated to do so. If you do sign the agreement, you are permitting them to tow your vehicle. If you do not, they will have to pursue a court judgment to get permission to repossess your vehicle.
Creditors who pursue a judgment and win have the right to seize your vehicle. There will be no documents for you to sign and a deputy or sheriff will have your car towed. Your best option in getting your vehicle back is to acquire the services of a local bankruptcy attorney.
Louisiana is not a ‘self-help’ state, which makes this method highly questionable if pursued by a creditor. Self-help repossessions are those that are permitted based on contract terms rather than a court judgment. If lenders accurately seek this method, there will be no voluntary repossession form, and they can take your vehicle without your signature. In most cases, the creditor bypassed the strict state guidelines to get your vehicle. If you believe this to be true, it is crucial that you waste little time in securing legal help.
E. Orum Young Law Offices has filed more than 20,000 bankruptcies in Northeast Louisiana and are fully aware of shady repossession tactics pursued by creditors. Our seasoned attorneys in Monroe, Louisiana can stop repossession and guide you through the Chapter 13 bankruptcy process. Honors given to the members of our legal team have included the Gold Medal Congressional Award. Our Trial Guarantee ensures that we will take your case to trial at your request. Contact us today for a free case evaluation.