Pima County Car Repossession Lawyer
Has a lender threatened to repossess your car or major appliances? In these challenging economic times, it is important to know you are certainly not alone. It is even more important to know that you have options. By filing bankruptcy, you can stop car repossession, appliance repossession, trailer repossession and all other types of repossession.
At the Arizona Law Group of Trezza & Associates, we will carefully review your case to determine if filing bankruptcy will have a positive impact. Contact us to set up a consultation with one of our attorneys.
Avoiding the Negative Consequences of Losing Your Car
We understand that your car is important to you. However, we also know that, ultimately, if you want to keep your car, it needs to fit within your budget. Bankruptcy can help in two key ways:
- Discharge deficiency judgments: A deficiency judgment is the difference between what you owe on your car and what your lender sells it for. You could be responsible for this amount, but it could be discharged in bankruptcy.
- Buy time and save money: The repossession process is halted as soon as you file bankruptcy. Repossession actions stop, giving you time to sell your car or decide what you want to do next.
There is nothing wrong with walking away from your car. In fact, sometimes, it is the best option when the alternative is to keep struggling with payments you cannot afford and getting further and further in debt. The solution can be found in bankruptcy.
Reviewing All Options for Avoiding Repossession
Keeping your car in bankruptcy is a possibility, depending on your situation. For example, filing Chapter 7 results in other debts being eliminated, allowing you to devote more of your income to making your car payments. Chapter 13 bankruptcy opens the door for strategies to catch up with past due payments and to cram down the amount you owe on your car.
Contact Us to Learn More About Stopping Repossession
Every case is different, so it is important to discuss your situation with a Tucson bankruptcy attorney before making a decision. Contact us to discuss your options.
