Benefits under Chapter 7: Keeping Your Vehicle Lease
If you file a Chapter 7 case and write off your other debts, will you want to keep your vehicle lease? You can if you're current on it now.
Chapter 7: Rejecting a Vehicle Lease
Rejecting a vehicle lease in a Chapter 7 case simply requires a formal statement that you reject it. The Option of “Rejecting”... Read More
The Difference between a True Lease and a Secured Purchase
To determine whether a "lease" is actually a disguised secured purchase the bankruptcy court looks at the deal's economic substance.
Leases that Are Actually Secured Purchases
A "lease" of furniture or other consumer goods may actually be a disguised purchase. If so, through "cramdown" you can pay much less on it.
Personal Property Leases in Bankruptcy
Leases of consumer goods--furniture, appliances, electronics--are like vehicle leases: you can "accept" or "reject" them.
Keeping Your Leased Vehicle through Chapter 13
Want to keep your leased vehicle but aren't current on the payments? File a Chapter 13 case if you can't get current right away.