This page will provide an overview of Arizona's Repossession Laws and what you should know if you've fallen behind on car payments. Bring a valid driver's license and a combination of identification items to prove your identity.Repossession of Property Financing occurs when you buy property (a vehicle, mobile home or furniture) but do not pay the entire sales price at once. Reach out to your creditor about your options. However, you must have some form of credit or a cosigner if you have bad credit. However, there is no pre-notice required before repossession on collateral loans. Even if you successfully complete a voluntary repossession, the payments you missed on the auto loan will still appear on your credit report. The Arizona Repossession Affidavit form, officially known as form 48-0902, is a crucial document used in the repossession process. Just st put one foot in front of the other and don't give up. In many situations, it is possible to keep your vehicle in a Chapter 7 bankruptcy, as long as you remain current on your loan.