No one takes out a vehicle loan expecting to fall behind and become delinquent. However, life sometimes gets in the way - job loss, unexpected medical expenses, or garnishments can cause anyone to fall behind on his or her car payments. When that happens, vehicle repossession is not far behind.
In Wisconsin, a loan company must give a 15 day notice before repossession through the regular mail. Watch out! It does not have to be sent certified or legally served; regular mail is fine. After 15 days, the loan company can have your car repossessed.
Once your car is taken, you have very few ways to get it back. The best is Chapter 13 Bankruptcy. Filing a Chapter 13 Bankruptcy will stop your car from being sold at auction, and will force your loan company to return your vehicle within days. Moreover, Chapter 13 Bankruptcy will allow you to pay off your car in a 3 to 5 year repayment plan at a new interest rate.
IMPORTANT: You need to file a new Chapter 13 Bankruptcy with 15 days after your car is repossessed to ensure that you can get it back.