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Giving a car back a year after discharge

reg1966
Member

Giving a car back a year after discharge

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

Message 1 of 4
3 REPLIES 3
SteelerNYC
Valued Contributor

Re: Giving a car back a year after discharge


@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. 

Ch 7 Discharge May 2015
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Message 2 of 4
StartingOver10
Moderator Emerita

Re: Giving a car back a year after discharge


@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

Message 3 of 4
reg1966
Member

Re: Giving a car back a year after discharge

Thanks

Message 4 of 4
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