Stop Repossession by Filing Bankruptcy
If you are facing a repossession, bankruptcy attorneys in Glendale and Peoria, AZ can help you save your vehicle. Filing chapter 7 or chapter 13 bankruptcy can help you stop an auto repossession. Once you file a bankruptcy an “automatic stay” goes into effect immediately stopping all collection and repossession action against you. Contact our experienced Glendale repossession attorney for more details regarding stopping a repossession in Glendale, Arizona.
After your Glendale bankruptcy lawyer has filed your bankruptcy petition with the bankruptcy court, the bank may not repossess your vehicle without first getting permission from the bankruptcy court. Also, a Chapter 13 bankruptcy filing in Peoria and Glendale may allow you to get lower car loan payments. The chapter 13 would also allow you to get rid of your loan defaults. Also, a chapter 13 is particularly helpful if you are either behind on your car payments or you are “upside down” through your vehicle financing. In most cases, a chapter 13 allows you the opportunity for you to keep your car for the actual value of the car. It gets you out of the pit of paying on a car that you have much more borrowed than it’s value. Additionally, through the Chapter 13 payment plan, you pay your creditor auto loan payments in the chapter 13 bankruptcy repayment plan.
Arizona Bankruptcy Exemptions Regarding Repossession
Arizona bankruptcy exceptions are best to be discussed with an experienced bankruptcy attorney. Also, there are available Arizona bankruptcy exemptions that can be applied to the equity of your automobile. Discuss your specific situation with a Peoria or Glendale Bankruptcy Lawyer. The bankruptcy filing process can be complex, and our attorneys are experts with helping Nevada residents find the best method of debt relief for their particular cases.
Is it possible to keep your vehicle in a Chapter 7 Bankruptcy?
Many people in Glendale and Peoria worry about keeping their car when they file for bankruptcy protection. It is possible to keep your vehicle when you file a chapter 7 or a chapter 13 bankruptcy. Contact our Glendale Repossession Lawyer for additional details.
As long as you remain current on your loan payments, it is very possible to keep your vehicle in a chapter 7 bankruptcy. There are Arizona exemption limits regarding vehicles that you will need to adhere. Our Arizona bankruptcy attorney can stop repossession in Nevada.