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Truck lease return in 13

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    Truck lease return in 13

    My wife and i are in a chapter 13 and have a truck lease that is complete in july. We are two years into a five year plan with our bankruptcy. My father has an older truck that he is willing to give me to use in order for us to save some money. I have a few questions regarding auto payoffs and lease returns.
    1. When the truck is turned in will the money payed toward the lease be dispersed back to the creditors if i do not buy another vehicle?
    2. My wifes van is also getting close to being paid off this year and she intends on keeping it. Will that payment also be given back to the courts to be dispersed?
    3. What is my best option? If i take my dads old truck 6 months down the road it may need repairs and getting the courts to give us any more is not likely. My truck needed ball joints to the tune of $800 last year and our attorney asked us to ask our parents who did help but cannot continually. Pls help our budget is too tight.

    #2
    As to...

    1. Probably not (although it is possible); Trustees tend to only look for increases in income (i.e. when/if they review your tax returns etc), they are not overly concerned (and rarely audit) decreases in expenses.

    2. Same answer as 1.

    3. If your budget is too tight, the answer is simple (although you aren't going to like it), you either decrease your expenses or increase your income.

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      #3
      Thank you for responding
      That 400 month payment for the truck being gone will solve all the problems if we can add that to our monthly budget and drive the free truck. The truck payment is deducted from my check through the 13 plan. Once the lease is returned will the amout the courts withdraw change automatically? Do i need to consult our attorney on this matter? Finally some good news thanks.

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