Mississippi residents do not need to face repossession alone

There are countless reasons why a person may fall behind on bill payment. Perhaps a Mississippi employer laid-off a worker unexpectedly, or maybe the rising cost of living is simply too high. The culprit could be lingering credit card debt from financial errors that occurred years ago, or possibly insufficient knowledge when it came to student loans or home ownership. Whatever the reason, enough missed payments can send a man or woman into the realm of repossession or garnishment.

There are few things more intimidating than asset forfeiture. When creditors seize an asset that an owner hasn't kept up the payments on, the debtor is put in an unfortunate situation. This type of scenario can also involve wage garnishment, when a creditor secures a judgment to have a portion of one's wages withhold to pay off a debt. Both garnishment and repossession are difficult to handle alone and frequently invite assertive legal representation.

When one is facing repossession, it can be helpful to examine the original ownership contract for an asset such as a motor vehicle. Oftentimes, there is a grace period for missed or insufficient payments, but not always. Regardless, fighting a contract violation on an individual level is intimidating without legal knowledge.

Another important aspect of repossession in Mississippi is that it cannot be done if doing so would lead to a "breach of the peace." A car can be repossessed at all hours or even while a person is at work. It cannot be taken, though, by forcibly removing a driver from inside or by breaking in to a locked area such as a garage. Repo agents do not always follow these rules, though, and without legal help a person could be taken advantage of by those operating outside the law.

Finally, anyone facing the threat of repossession should know that there are ways to halt the process. Discussing one's personal financial situation is never easy, but doing so with an experienced bankruptcy attorney can lessen the pressure to figure out a solution on one's own.

Source: mslegalservices.org, "Repossession," accessed Sept. 1, 2014

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