When financial challenges arise or things like unemployment suddenly occur, people's lives can be turned completely upside down. Many people do not have significant savings, so even a slight decrease in the income that was expected can wreak havoc on a budget and create serious problems. For many people struggling with insufficient income to meet their monthly financial obligations, one of their first concerns may be how to stop repossession of their vehicles. While bankruptcy can provide protection against repossession in some situations, there are also legal limitations on a creditor's rights when it comes to repossession of vehicles.
Severe financial challenges can easily send the most thoughtful and intelligent people into a cloud of confusion. When struggling under the weight of snowballing interest, missed payments, creditor harassment and insufficient income to meet debt obligations, it is very hard to see the light at the end of the tunnel--or to develop a strategy about how to get there. For many people, the focus becomes immediate: how to survive, how to stop repossession, how to stop foreclosure.
In many cases, an individual or family begins struggling financially after a series of other unfortunate events or circumstances. For example, a person may suffer an unexpected illness or disability and lose his or her ability to work. Lay-offs and job loss are also common predecessors to financial hardship. After the initial stress of dealing with a sudden illness or loss of employment, the strain that comes with efforts to juggle finances and maintain financial stability is often quite significant. It is during these times when people are in desperate need of debt relief options but often do not know where to begin.