a truck ladder assembly for attachment to the underside of a truckbed includes a ladder portion movable between a first operable position providing easy access to the truckbed and a second collapsed position providing an unobstructive storage of the ladder portion . the truck ladder assembly includes a mounting frame and a ladder portion having stabilizer arms and unlatching levers . the mounting frame is attached to the underside of the truckbed with the ladder portion pivotably attached to the mounting frame by a pair of spacing members extending at right angles to the ladder portion . first and second stabilizer arms , which are pivotably attached to the ladder portion , each include a pair of notches that releasably engage the mounting frame . first and second release levers pivotably attached to the ladder portion are provided in close proximity to the stabilizer arms to facilitate the disengagement of the stabilizer arms from the mounting frame . the weight of the ladder portion cooperates with the location and orientation of the notches to securely position the ladder portion in the first and second positions .