Re: What happens to a leased car in BK?

Posted by CAK (66.140.213.124) on November 30, 2003 at 10:38:55:

In Reply to: What happens to a leased car in BK? posted by LVCat on November 30, 2003 at 04:37:04:

Tell the trustee that and see what can be worked out. In a 13 BK it can be done by both parties agreement and a set amount for your interest and payment. If you default in the agreement or fail to provide insurance for the vehicle, the creditor will file a motion for relief from stay and repossess their secured interest. In a 7 you may or may not need to re-affirm with the lessor or creditor, it depends on the institution. However, your Trustee will help you with these issues as they come up. Others on this forum I'm sure have gone though this, and will likely post their experiences.

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