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Hi,
My BK was discharged last May and I have a leased vehicle that was included in it and I continue to make payments on it. On the statememt of intentions on the BK filing I check the box that I wanted to assume the lease but I now want to buy a cheap used car and return this one. Can I still give the vehicle back and thougut it's been over a year? I never reaffirmed the loan. My only concern is on the statement of intentions on the BK petition where I indicated I would assume the lease , but I don't think is binding or the same a reaafirming.
Thanks
Bob
@reg1966 wrote:Hi,
My BK was discharged last May and I have a leased vehicle that was included in it and I continue to make payments on it. On the statememt of intentions on the BK filing I check the box that I wanted to assume the lease but I now want to buy a cheap used car and return this one. Can I still give the vehicle back and thougut it's been over a year? I never reaffirmed the loan. My only concern is on the statement of intentions on the BK petition where I indicated I would assume the lease , but I don't think is binding or the same a reaafirming.
Thanks
Bob
I'd check with my lawyer.
@reg1966 wrote:Hi,
My BK was discharged last May and I have a leased vehicle that was included in it and I continue to make payments on it. On the statememt of intentions on the BK filing I check the box that I wanted to assume the lease but I now want to buy a cheap used car and return this one. Can I still give the vehicle back and thougut it's been over a year? I never reaffirmed the loan. My only concern is on the statement of intentions on the BK petition where I indicated I would assume the lease , but I don't think is binding or the same a reaafirming.
Thanks
Bob
Agree with the prior poster - check with your attorney. Vehicle leases are not the same as vehicle loans so make sure you remind him of your specific bk details. My concern for you is that you specifically assumed the lease which may in fact be a "reaffirmation". Your attorney will know. You paid him/her. Use their knowledge. EDIT: here is a link that discusses leases and bankruptcy that might help: http://www.nolo.com/legal-encyclopedia/what-happens-car-lease-bankruptcy.html
Thanks