Legal Question in Bankruptcy in Arizona
Do you reccommend filing a ch 7 BK if you only owe 17k (down from 49k) for remaining divorce debts, to seek protection form potential credit union sueing me for another 18k from my ex's truck repo, since she filed a bk and my name was on the loan as well, since I'm told the divorce decree will NOT protect me in court form this potential suit? Also, what is the statute on this? Or, would you reccommend I just continue to hide and pray they let me slide and pay off the remiaining other 17k form the divorce debts? I'm recently unemployed BUT, I want to buy a house and rebuild my credit ASAP, so I'm hesitent to file, since I'm thinking it will hinder my abilities and delay my goals of rebuilding credit and owning a home longer, which I don;t want to do; I should be in one now, but am not, hence I don;t want to delay any longer, etc.
Thank you!
1 Answer from Attorneys
The car finance companies are very aggressive, and they will sue you for repo debt. My recommendation is that you file and eliminate all debt including marital debt. There is no exact statute, but the car company can come after you under the terms of the finance contract.
Related Questions & Answers
-
Chapter 7 question: My husband and I have 2 cars where the KBB private party value... Asked 4/15/10, 10:23 am in United States Arizona Bankruptcy Law
-
My bussines is in chapter7 bankrupsy. i have half of my ex husbands stocks from... Asked 3/31/10, 6:29 am in United States Arizona Bankruptcy Law
-
Hello i am recently married .. live in az.. had a condo in nevada long before... Asked 3/11/10, 2:28 pm in United States Arizona Bankruptcy Law
-
I went to go file bankruptcy and they said i could not file for 2 years due to me... Asked 3/02/10, 12:25 pm in United States Arizona Bankruptcy Law
-
I currently have a Honda Quad which was included in a bankruptcy back in 2004.... Asked 10/26/09, 2:15 pm in United States Arizona Bankruptcy Law