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.
Business Leases Recharacterized
A business leases may not be a true lease but rather recharacterized as a secured purchase, giving you significant power over the creditor.
Business Leases of Personal Property
With business leases you have the same options in bankruptcy as with consumer leases: to "assume" or "reject" the lease.
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.
Leaving My Rental after Filing a Chapter 13 Case
Chapter 13 has advantages and potential disadvantages compared to Chapter 7--it's more flexible but there's a chance you'll pay more.
Leaving My Rental after Filing Chapter 7 Bankruptcy
Chapter 7 bankruptcy gives you serious advantages for getting out of a residential lease--advantages in money, time, and peace of mind.
What If I’m Too Far Behind on My Rent?
In a Chapter 13 "adjustment of debts" you have much more time to get current on your residential lease agreement than under Chapter 7.
Can My Landlord End My Lease Just for Filing Bankruptcy?
Your landlord CAN'T evict you for filing bankruptcy. A lease provision which allows for eviction upon bankruptcy filing is unenforceable.
Escaping a Vehicle Lease in Chapter 13
Getting out of a vehicle lease by "rejecting" it in Chapter 13 isn't quite as quick as in Chapter 7 but has about the same practical effect.
Executory Contracts in Chapter 7
An unexpired lease or executory contract gets special treatment in bankruptcy. You'll likely get the option of "assuming" or rejecting it.
Unexpired Leases and Other Executory Contracts in Bankruptcy
Unexpired leases and executory contracts can continue on after you file your bankruptcy case. What are they and what makes them special?
The Extraordinary Tools of Bankruptcy: Keeping Your Leased Vehicle through Chapter 13
If you are not current on your leased vehicle but want to keep it, file a Chapter 13 case if you can't bring the account current right away.