car lease--surrendering

[Tabbygirl]

I decided to keep and eventually reaffirm one car, and let the leased one be surrendered.

Does the leasing company have to request the stay be lifted, like w/ a financed car? If so, I know I could see that on PACER. It's w/ Nissan--do they call in advance of picking it up or do I just wake up one morning and see that it's no longer there...?!

Is this done usually post or pre-341? I've searched posts and not sure. Do we keep making lease payments or no since we already filed and know the car will be surrendered? I'm guessing not. Part of me wants to call Nissan and just ask; part of me says let it lie until they contact me.

The one concern is that my husband will *have* to get something to drive (he commutes about 100 miles round trip each day) and it has to be reliable. He may buy a motorcycle which is pretty cheap (A friend who wants it 'to go to a good home' is selling it--sounds like we're buying a pet --so we're getting a good price) but can't ride it when it's rainy or too cold/icy.

What if we have to apply for financing if the Nissan leaves before the 341? What about before discharge? (I filed ch. 7 7-31-08)

Thanks y'all!

[BassBoy]

The stay will be lifted as soon as you default the loan, which is usually at 90 days, and by then, your case is discharged before you default the loan. In any case, when the lender lifts the stay, you may get a call to arrange pick-up or drop-off or you could wake up one morning and it's gone. Each lender handles this differently.

If your intentions are to let the car go, there is really no sense in contuing to make the payments. You're throwing away money......money you could be saving if and when you need another vehicle

While in active BK, you most likely will not be able to acquire financing, so you should wait until after your discharge.

[Tabbygirl]

Thanks--that's what I was thinking. I think that I will probably just call Nissan, give them the case number and arrange a time to surrender it or find out procedurally what we need to do or expect. It's not a bad car--it's just a lease, which we've never done before and will never do again; I prefer to actually own a car, after paying on it.