The phrase "repossession process" refers to the legal procedure that allows a lender or creditor to take back possession of a property or asset from a borrower or debtor when they have failed to make the required payments. Full definition
Chapter 13 bankruptcy could be better than debt settlement if you're using bankruptcy to stop the foreclosure or repossession process on a house or car AND if you can afford to make your loan payments while you're getting caught up on your past due balance during bankruptcy. (debtsettlement.com)
This said, there was also a sharp increase in the number of mortgage possession orders, the next stage in the repossessions process, being issued during the second quarter of the year. (politics.co.uk)
However, if the foreclosure or repossession process has already started, bankruptcy may not permanently prevent it. (debtsettlement.com)