Legal Question in Bankruptcy in California

Repo or Bankruptcy?

Two months ago a friend voluntarliy repoed her car. She also has two credit cards that she has in collections that she owes ruffly 4000 dollars on. The car was deit was ruffly 3000. She is considering bankruptcy to get from under this. She currently has little money to put towards these bills. her main concern is getting another car but she believes a repo will inable her to get on verse a bankruptcy. I strongly disagree that bankruptcy is a good idea for a 7000 dollar debit. please advise.


Asked on 4/26/00, 7:22 pm

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Repo or Bankruptcy?

I don't understand first of all how she repossessed her own vehicle. Do you mean she surrendered it? Anyway, you are correct that $7,000 is a relatively small amount of debt to file bankruptcy on. However, that does not mean it is a bad idea. She needs to have a consultation with a bankruptcy attorney who can go over her entire situation and decide if bankruptcy is the best thing for her. If she's not going to be able to repay the debts she has, then it very well may be to her advantage to file.

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Answered on 6/08/00, 1:07 pm


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