Fortunately, there are steps you can take to avoid repossession. Creditors must abide by Ohio laws, and you may even be able to get back property that has already been repossessed if you work with an attorney who knows the system.
The seasoned Ohio debt-relief lawyers at Fesenmyer Cousino Weinzimmer in Columbus, Dayton and Cincinnati are ready to make your case an urgent priority and find ways for you to keep ownership of your property. For example, you may be able to prevent repossession by becoming current with your payments, making special arrangements with your creditors, or filing for bankruptcy.
Ohio Repossession Laws
he contract you sign when you buy an item through a loan spells out the payments you must make and the dates you must make them. If you fall behind on these payments, Ohio law considers you to be in default of the contract. You will probably be in default as soon as the payment is late, unless your contract provides a grace period to make up your payments.
If the contract states that the creditor has the right of repossession, the creditor can reclaim the property without having to go to court and get a judgment. Creditors may then keep the property or sell it to help cover your debt. Creditors and third parties seizing property are not allowed to confront the buyer or break the law by doing anything likely to cause violence during the repossession process.
Creditors may also file a lawsuit and get a court order for repossession. These are called “replevin” cases, and sometimes the court will issue an order even before you know that a case was filed. If you wish to challenge the replevin order, you must file a hearing request with the court within five days after receiving the paperwork. In this case, you should contact an attorney immediately for legal assistance.
Some types of property cannot be repossessed, even if you default on a loan, including:
- Property not specifically named as collateral
- Credit card purchases
- Property named as collateral in a contract thatdoes not comply with Ohio’s legal requirements
What Happens After the Repossession?
Once creditors repossess your property, they usually send default notices within five business days. The notices explain why your car or other property was repossessed and what you must do to get it back. If you want to keep your property, you have the right to buy it back by paying the outstanding balance, including the cost of the repossession and sometimes up to two additional payments.
If you cannot make these payments, you will be notified that the car will be sold at least 10 days before the sale. Keep all paperwork and notices in case you are sued for the difference between what the property sold for and the balance due on the loan.
Even if property cannot be repossessed, creditors may still sue you in court to recover the money you owe. If they win, they may be able to garnish your wages or put a lien on your property.
Cincinnati Repossession Companies
The following is a list of some companies that do repossessions in Cincinnati:
- Top Dawg Recovery 6116 Elmwood Ave., Cincinnati, OH 45216 (513) 628-2010
- United Auto Recovery 588 W. Seymour Ave., Cincinnati, OH 45216 (513) 761-7376
- Automobile Recovery Svc 2311 Grand Ave., Cincinnati, OH 45214 (513) 471-5400
- Attorneys Collectors & Investigators (888) 258-5298
- The Debt Masters (888) 639-0890
- Collection Attorney Firm (888) 977-0149
- Empire Credit and Collections (888) 861-8253
- DCN, Inc. (877) 566-9540
- Pioneer Capital Solutions, Inc. (888) 309-1945
- Professional Recovery Personnel, Inc. (888) 832-1430
- Wynn-Singer & Associates 5861 Cheviot Rd., Ste. 1, Cincinnati, OH 45247 (513) 385-7700
- Verus Recovery Services, LLC. P.O. Box 12721, Cincinnati, OH 45212 (800) 734-9020
- RCC Services 347 Stanley Ave., Suite 100, Cincinnati, OH 45226 (800) 593-1913
- Vericore 205 W. 4th St., Ste. 1000, Cincinnati, OH 45202 (513) 721-0325
- Parson-Bishop Services Inc. 7870 Camargo Rd., Cincinnati, OH 45243 (513) 561-5560
- Fairway Capital Recovery 4000 Executive Park Dr., Ste 300, Cincinnati, OH 45241 (513) 619-7565
- Recovery One 2260 Park Ave., Cincinnati, OH 45206 (513) 332-9101
- International Collection Bureau 4200 Court House Anx., Cincinnati, OH 45202 (513) 753-9999
- N Y S Colectn 2-Oceans United 7875 Kenwood Rd., Cincinnati, OH 45236 (513) 791-0682
- N Ys 2 Kenwood 7875 Montgomery Rd., Cincinnati, OH 45236 (513) 745-9759
- Controlled Credit Corporation 644 Linn St., Ste 1105, Cincinnati, OH 45203 (513) 921-2600
- Accelerated Creditors Service 10079 Springfield Pike, Cincinnati, OH 45215 (513) 326-7800
- American Express 4612 Cooper Rd., Cincinnati, OH 45242 (513) 745-2710
- Transworld Systems 9200 Montgomery Rd., Ste 25a, Cincinnati, OH 45242 (513) 791-3418
- Controlled Credit Corporation 3687 Warsaw Ave., Cincinnati, OH 45205 (513) 921-2600
- Collectors Connection 5987 Cottontail Ct., Cincinnati, OH 45239 (513) 245-2233
- Apollo Credit Adjustment Co 7611 Brannon Dr., Cincinnati, OH 45255 (513) 474-1900
- McAtee Wesselman Dennig Inc 206 Northland Blvd., Cincinnati, OH 45246 (513) 771-7300
- Express Collection Services P.O. Box 53592, Cincinnati, OH 45253 (513) 217-9317
- Knightsbridge Receivables Management 1329 E. Kemper Rd., Ste. 4100, Cincinnati, OH 45246 (513) 896-1117
There are several ways an attorney can help you fight repossession. One is to work directly with the lender to restructure or renegotiate the terms of your loan. However, in many circumstances, the most effective way to stop a repossession or regain your property is through a Chapter 7 or Chapter 13 bankruptcy filing. Both types provide an “automatic stay” that can immediately stop repossession and harassment by creditors.
Chapter 7 bankruptcy is the most common form of bankruptcy, and it discharges most or all consumer and/or business debts while protecting you from harassment from creditors and repossessions. In most instances, deficiency balances can be treated as an unsecured claim and discharged in your bankruptcy. Also, Ohio has exemptions of property that cannot be sold, including clothing, cars, equipment used for work (like tools) and household furnishings. If you do not own much property, your possessions may all be exempt.
Chapter 13 bankruptcy is a repayment plan that consolidates your debts and allows you to repay some or all of them over a three- to five-year period. If you successfully complete the court-approved payment plan, the debts covered by the plan are discharged.
Contact us for a Free Initial Consultation
If you are a Cincinnati resident faced with repossession, time is of the essence. The experienced and compassionate debt-relief attorneys at Fesenmyer Cousino Weinzimmer know what you are going through. We offer a FREE INITIAL CONSULTATION to evaluate your entire financial picture by examining your income, your debts and your goals in order to determine the best fit for your individual situation. We have helped thousands of Ohio residents find new hope and prevent repossession.
Delaying can only make your situation worse, so call the Ohio bankruptcy attorneys at Fesenmyer Cousino Weinzimmer today at our conveniently located Cincinnati office at 877-654-5297 or email for your free consultation so we can determine what debt relief solutions will work best for you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.