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Yes, it is called bankruptcy. Move quickly though. If the lender obtains a judgment against you before you file bankruptcy, you will still owe on the loan.

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Q: Is there a hardship law for volunteer repossession of a car in Georgia?
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Related questions

Is concealing a car from repossession a felony in Georgia?

is concealing a car from repossession a felony in georgia?


What are your rights in the State of Georgia in regards to car repossession?

lawhelp.org/GA


Where do you get car repossossion permit?

who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?


How do you write a car repossession letter?

How do you write a car repossession letter?


Can a collector garnish your wages in Georgia for a car repossession?

Yes, after due process is followed in accordance with the laws of the state.


What are the laws governing car repossession for dealers in Georgia?

Per the Uniform Commercial Code, repossession is allowed without committing a breach of the peace. For specific legal regulations, see the related link below.


Can you be arrested for not turning over your car for repossession in georgia?

I own a repo company in Washington state, so I'm not a expert in Georgia laws, however in most cases states consider repossession or self-help repossession to be a civil matter. Most likely your local PD would not take action against you. This is provided there is not a court order, forcing you to turn over your vehicle.


How long does the repossession process of a car usually take?

The repossession process of a car usually takes about 6 months


How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?

A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.


Can you get a personal loan after a car repossession?

You might be able to get a personal loan after a car repossession. However, you would get the loan at a very high interest rate one the repossession is on your credit report.


How long after repossession can you get a car loan?

The repossession stays on your credit report for 7 years.


Can police help the repossession men take your car in Michigan?

Possibly, but they can certainly prevent you from interfering, as it is no longer your car, hence the repossession.