Car Lease in chapter 13

[DYLAN150]

What about having a car lease when filing chapter 13? Can you turn the car back in and buy a fixer before the filing?

[Flamingo]

Review the terms of your lease as to anything listed that may/will occur in the event you file for Bankruptcy. Also, if you terminate your lease early you may have penalties to pay which could be very high.

[dac67]

I had a car lease. I paid every month and I turned it back in, they will not refinance you and you won't be able to get another. One ting I didn't have to pay was any fees once it was turned back in because of the bankruptcy. My hub and I have had one car that we had to buy for 1800.00 for the last 2 years. It sucks. We have two jobs and 2 kids. We tried the note from our lawyer , we went to alot of car dealers ones who say they finance EVERYONE , not if your in a bankruptcy. Even getting someone with good credit to co sign for us, NOPE. We tried everything and now with this whole financial mess, they are really not going to give credit to people IN banckruptcies. We were told we could get a car once we are out, so this May or June I am getting another car when our plan is done and we are cleared.
Good Luck

[rrockinggramma]

722 redemption finances people in chapter 13. In fact, it goes through the lawyer and the courts. Many shy away because of the interest rate. But if you are in a pinch, it might be a solution.