Legal Question in Credit and Debt Law in Arizona

I'm in AZ. I'm currently unemployed and currently searching for employment. I have been unable to make my last 3 months' car payments. My parents have informed me that a towing truck has come to their house to repossess my car. Could I still call the bank and explain my situation to them? Or should I allow my car to repossessed? What else could I do in this situation?


Asked on 9/18/09, 11:51 am

1 Answer from Attorneys
Joan Bundy Joan Bundy Law

You could contact the lender and see if they would be willing to modify your loan. If not then you probably should just let the car be repossessed. It's better than having the missed payments continue to rack up and further lower your credit rating.

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Answered on 9/24/09, 12:53 am


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