Leasing a vehicle

Posted on Monday, January 21, 2008

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I would like to know if when leasing a vehicle and then claiming bankrupt after a year into thelease Would you have to surrender the vehicle?

Filed under: Bankruptcy
 posted by Questions @ 7:31 pm
1 Expert Comment:

 At January 22, 2008 | 9:44 am , Barton Goth GCO Bankruptcy Trustees Said...

There is nothing forcing you to surrender a leased vehicle in the bankruptcy legislation, but realistically it is up to the company that holds your lease.

As long as they agree to allow you to continue paying on the lease you can keep the vehicle (as long as the payment fits into your budget) and this cooperation is typically quite easy to obtain, especially if you have remained current with your payments since the commencement of the lease.

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