Vehicle Issues – Tucson Law Center

Vehicle Exemptions – Business v. Personal Use

Vehicle Exemptions – Business v. Personal Use Under the Arizona bankruptcy exemptions, a vehicle used by the debtor primarily for business purposes, must be claimed under the “Tools of the Trade” exemptions under A.R.S. § 33-1130. The Arizona bankruptcy exemptions allow a debtor to keep equity in one vehicle of up to $6,000. (See A.R.S. […]

Creditors Do Not Have PMSI in Car Loan Portion Related to Negative Equity

Creditors Do Not Have PMSI in Car Loan Portion Related to Negative Equity The Ninth Circuit Court of Appeals found that a creditor does not have a purchase money security interest (PMSI) in the portion of the debtor’s car loan related to negative equity of a vehicle traded in at the time of a new […]

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