Vehicle Shouldn't Have Been Listed
My husband filed chapter 11 a year and a half ago. One of the items he did NOT want listed on the bankruptcy was the leased vehicle. He paid the lease until it's end, then received an odd letter that the car was repo'd due to the bankruptcy......?????. Even though my husband made the mistake and did not catch the error with the lawyer (car was listed on the paperwork), he spoke with the bank and told them of the error and stated that he would be continuing with the payments. My concern, is that we are going to try to buy a house at the end of the year (still don't know how his bankruptcy will affect that - any comments?) and anything that we can "right" on his credit report, the better. Anyone had a similar situation? Comments greatly appreciated!
Answer:
There isn't an option to include or not include a leased car in a bankruptcy. It must be included. The options are whether to assume the lease, continue making payments, and keep the car, or reject the lease and surrender the car. I don't know what the leasing company is saying; it doesn't make sense.
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