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If you’ve fallen behind on your bills and are trying to catch up, one of the things you may be worried about is having your vehicle repossessed. If you lose your vehicle, you could have trouble getting to work or taking care of your family.

It’s important to take action if you cannot make your car payments on time. Your vehicle could be repossessed if you can’t pay for it or make arrangements to catch up on missed payments.

What should you do to avoid auto repossession in Texas?

The first thing you should do is reach out to the lender who holds your loan. Many lenders have programs in place for people who are out of work or who have missed their first payment after years of paying on time. They may forgive a single missed payment, work with you to lower your payments for a few months or negotiate a lower repayment rate for the missed payment by reducing or eliminating fees.

If the lender cannot help you, the next option is to look at your budget and see where you can consolidate your expenses. If you have multiple credit card debts, for example, then you may want to consolidate them and put the saved money toward repaying your debt on your vehicle. Cutting down on extras, like subscription services or eating out, might be enough to catch you up on your payments in some cases.

Finally, if you’ve tried different avenues of repaying your debt but haven’t been able to catch up on it, you should reach out to a bankruptcy attorney. A bankruptcy attorney can give you more information about a Chapter 7 or 13 bankruptcy as well as other options for repaying what you owe, such as debt consolidation or negotiating with creditors to settle your debt.

Let a professional help if you’re facing an auto repossession

Your attorney will walk you through the different options that could help you. It’s best if you reach out sooner rather than later, so you can take action before a repossession is pending and your vehicle is at risk of being taken from you.