If your vehicle was repossessed, you can get the property back by filing a chapter 13 bankruptcy. The chapter 13 bankruptcy must be filed before the creditor sells or disposes of the collateral. How quickly the creditor sells your repossessed vehicle varies depending on the lender and state law stipulations.
The bankruptcy instantly puts an automatic stay of protection into effect. This stay prohibits the lender from selling or disposing of your car. You can then recover your vehicle and pay it off through the chapter 13 plan which allows you to stretch out the payments over a 3-5 yr period. You may also be able to "cram down" your overall debt to value.
Disclaimer: This blog is intended as general information purposes only, and is not a substitute for legal advice. Anyone with a legal problem should consult a lawyer immediately.