UCONN Home Lease Car During Bankruptcy
 
  ABOUT THE FINANCE DIVISION   FINANCE PROGRAMS   DEPARTMENTS   CENTERS & INITIATIVES   NEWS AND EVENTS   ALUMNI

Industry News

I had to have $1500 down, but I got a four-year-old, off lease fleet pickup truck. If the bankruptcy judge approves the reaffirmation agreement, you will continue to be liable under its terms after your bankruptcy ends. We just filed for bankruptcy in March and just received our discharge papers two weeks ago. For instance, if you have to give the car back due to a loss of income, at a time when you owe $25,000 under lease car during bankruptcy the agreement and your car is worth only $10,000, you'll be on the hook for the $15,000 deficiency.

The attorney sends the dealer a letter that says that the bankruptcy has been through court and any future bills cannot be added so the car dealer is safe from debts being cancelled. You do have a choice, however, lease car during bankruptcy on how to keep the car. When the lease expires, the dealer may charge you fees for excess mileage or damage to the vehicle, as if you hadn’t filed bankruptcy at all.

People often wonder how Chapter 7 bankruptcy will affect their ability to keep their car. This March my husband and I had to file for bankruptcy.

University of NYC
70 Washington Sq.
New York, NY 10012