If your airplane has recently been repossessed, or if you fear that you might be at risk of losing your airplane due to repossession, it might have crossed your mind to hire an attorney. However, as you probably already know, there will generally be legal fees that go along with hiring one of these lawyers. You could be curious about whether or not it will be worth it to hire a lawyer, and if so, consider these reasons why it might be worth the cost.
They May Be Able to Help
You might not be sure about hiring an airplane repo lawyer because you might not really think there is anything they can do for you. However, depending on the specific repossession situation that you're dealing with, there is a good chance that one of these lawyers might be able to assist you. They may be able to help you prevent your plane from being repossessed in the first place, or they might be able to help you get your plane back if it's already been repossessed.
They May Do a Free Consultation
In many cases, you can meet with an airplane repo lawyer without paying them anything. They may be able to do a free consultation and let you know about what they can and cannot do for you, and they can give you more information about how much they will charge for their services, too.
They May Save You Money
Repossessions can be very expensive. If your airplane is repossessed, you might have the option to get it back on your own, but you might have to spend a lot of money to do so. Not only will you have to get caught up on the payments that you're behind on, but you'll also have to pay late fees, repossession fees, legal fees, and more in many cases. Believe it or not, even when you factor in the cost of hiring an airplane repo attorney, you might find that they can actually help you save money when getting your plane back. This is because they might be able to negotiate with your lender to reduce what you have to pay, or they can make sure that you aren't being charged more than what is legal. If the reason you're thinking about avoiding hiring a lawyer to help with your airplane situation is because you're hoping to save money, you may actually find that hiring a lawyer will actually be what saves you the most.
Reach out to an airplane repo attorney near you to learn more.