If you are struggling with debt in Phoenix and a lender is threatening to repossess your car or major appliance, it is important to explore your legal options. Filing for bankruptcy stops creditors from taking actions against you, including repossession of a vehicle or other piece of property.
At the Arizona Law Group of Trezza & Associates, LLC, we represent clients from Phoenix and throughout Arizona in Chapter 7 and Chapter 13 bankruptcy cases. Our experienced bankruptcy lawyers will carefully review your case to help you determine if filing for bankruptcy is in your best interests.
To discuss your specific circumstances with Arizona bankruptcy attorney Stephen Trezza, contact us to schedule a consultation.
Are You Facing Repossession in Phoenix?
While filing for bankruptcy temporarily stops lenders from repossessing your car, in order to keep it, you will ultimately have to be able to afford payments. Depending upon your circumstances, bankruptcy can help you meet your goals.
- Filing for Chapter 7 bankruptcy can eliminate unsecured debt, making it easier for you to keep up with car payments
- If your car is repossessed and sold at auction, Chapter 7 can discharge deficiency payments (the difference between what you owe and what your lender sells the car for)
- Filing for Chapter 13 bankruptcy reorganizes your debt into a more manageable payment plan, allowing you to consolidate your debt and pay it off over a three- or five-year payment period. Chapter 13 can also help you "cram down" the amount you owe on your car.
- Filing for bankruptcy stops the repossession process, giving you time to sell your car or explore other options
Our experienced Phoenix bankruptcy lawyers will help you explore all of these options, counseling you on likely outcomes of each action.
Contact Us to Learn More About the Bankruptcy Process in Arizona
Every case is different, so it is important to discuss your situation with a Phoenix repossession lawyer before making a decision. Contact us to discuss your options. We represent clients from Phoenix, Tucson and throughout Arizona.
