Leased Cars in Chapter 13...

[inseriousdebt]

We are taking two vehicles with us into our Ch. 13. We have two years left on one of them and 3 left on the other. We are in a 60 month Ch. 13 of course, and are wondering if anyone out there has any experience with this. We are fearful that when we have to return the cars, that we will not be able to get another even though the contract states you may buy the vehicle for so much after the time is up. We both need them for work. Has anyone out there gone through this?...and what was the result? Any ideas of good car dealerships that would offer people in Bankruptcy a fair chance?

[aa06a47]

We are taking two vehicles with us into our Ch. 13. We have two years left on one of them and 3 left on the other. We are in a 60 month Ch. 13 of course, and are wondering if anyone out there has any experience with this. We are fearful that when we have to return the cars, that we will not be able to get another even though the contract states you may buy the vehicle for so much after the time is up. We both need them for work. Has anyone out there gone through this?...and what was the result? Any ideas of good car dealerships that would offer people in Bankruptcy a fair chance?

I have heard on other boards that Ford Credit is bankruptcy friendly. If you keep your payments current, you'll have 2 and 3 years of positive payments after bk filing date that should help alot.

You might be able to go in and lease a new car from the same dealership....they tend to offer people incentives to turn one in and pick up another one. I would start looking at that a couple months before your current lease expires...and don't forget, you have to get your trustee's permission to do this.