Legal Question in Bankruptcy in Michigan

After many trips to the dealership contact with GM and GMAC had made 1st contact with a lemon law lawyer .after missing several payments my car was repo-ed this 2007 chevy impala ss was purched as a GM certified 1year old car with 15000 miles on it.this car was in the repair shop average at least once a month I tried to resolve this lemon with the dealership,GM and GMAC I did not make the payments because i though sooner or later this would get handled man was i wrong now that they have sold the car GMAC turned the amount balance over to a collection agency ARM accounts receivable management inc. i been unemployed for several months and don't see full time employment in the near future.my credit is shot should i file for bankruptcy on this car and credit cards about 18000 total not counting my mortgage and truck payments i just can,t seem to get above water to attempt to make the payments


Asked on 1/09/10, 9:30 am

1 Answer from Attorneys
Matt Shepard Shepard Law Office PLC

If your credit score is not an issue and you owe 18,000 on top of what GMAC financing is attempting to collect on you, I would recommend bankruptcy.You can probably keep your vehicle and the house.

Bankruptcy can be an effective option which will allow you to get back on your feet and start over. Your credit score will start bouncing back faster than if you try to make the payments.

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Answered on 1/14/10, 9:39 am


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