Legal Question in Credit and Debt Law in Wisconsin

You would be sadly mistaken to assume that all vehicle title loans are void in Wisconsin and can no longer lead to vehicle repossession. This is particularly true for more recent auto loans which now even allow repossession without any need for the bank to go to court. The vehicle could therefore literally "disappear" without further notice once the bank has sent a letter of default to the borrower. However, if you are having problems with a vehicle loan and wish to keep the vehicle, you owe it yourself to consult with an experienced chapter 13 bankruptcy lawyer. For loans which are more than 2.5 years old, chapter 13 plans can "cram down" to permit you to pay no more than the amount owed to no more than the value of the vehicle, with an interest rate of approximately 6% over five years. Even newer loans can be extended over five years. Although sometimes the entire amount owed needs to be paid over that period, the payment amount frequently goes down dramatically for loans upon which the remaining payments do on for significantly less than five years. For the record, I need to remind you that my answering this question on Law Guru does not constitute legal representation for purposes or court or any other further activities unless you make additional arrangements to retain me. You therefore must make arrangements to meet your legal needs since I will not be taking any action on your case.