What happens when being sued by a loan place?
If you took out an auto loan secured any the vehicle as collateral, then the lender is the registered lien holder and can repossess the vehicle if the loan is in default and the payment is late. If you are currently unemployed, you can file for chapter 13 bankruptcy protection. If approved by the court, you may be protected from repossession as long as you pay as agreed to new restructured terms of the loan.