It’s no secret that the COVID-19 pandemic has caused economic hardship for many people. One of the biggest concerns for those who are struggling to make ends meet is the possibility of having their car repossessed.
The good news is that there are laws in place that offer protection for consumers facing tough times. The CARES Act for example includes a provision that prohibits lenders from repossessing vehicles through September 2020.
That being said it’s important to remember that the CARES Act is not a free pass to stop making payments on your car loan. Lenders may still repo your car if you default on your loan even after the CARES Act expires.
If you’re worried about losing your car to repossession the best thing you can do is stay current on your payments. If you’re having trouble making payments reach out to your lender to see if you can temporarily defer or lower them.
In the end the best way to protect your car from repossession is to stay informed and proactive. Keep up with your payments and don’t hesitate to reach out to your lender if you’re having trouble. With a little effort you can keep your car – and your peace of mind – during these uncertain times.
Can I be evicted from my home during the pandemic?
No you cannot be evicted from your home during the pandemic.
Can my car be repossessed during the pandemic?
Yes your car can be repossessed during the pandemic.
Can I be laid off during the pandemic?
Yes you can be laid off during the pandemic.
Can I get fired during the pandemic?
Yes you can get fired during the pandemic.
Can I have my utilities shut off during the pandemic?
Yes your utilities can be shut off during the pandemic.
Can I get evicted from my apartment during the pandemic?
Yes you can be evicted from your apartment during the pandemic.
Can I have my car repossessed during the pandemic?
Yes your car can be repossessed during the pandemic.
Can I be foreclosed on during the pandemic?
Yes you can be foreclosed on during the pandemic.
Can I go bankrupt during the pandemic?
Yes you can go bankrupt during the pandemic.
Can I get evicted from my house during the pandemic?
Yes you can be evicted from your house during the pandemic.
Can I lose my job during the pandemic?
Yes you can lose your job during the pandemic.
Can I have my phone shut off during the pandemic?
Yes your phone can be shut off during the pandemic.
Can I be evicted from my apartment during the pandemic?
Yes you can be evicted from your apartment during the pandemic.
Can I have my car impounded during the pandemic?
Yes your car can be impounded during the pandemic.
Can I have my home foreclosed on during the pandemic?
Yes your home can be foreclosed on during the pandemic.
