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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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If I file bankruptcy (either chap 7 or chap 13) and am driving

Customer Question

If I file bankruptcy (either chap 7 or chap 13) and am driving a leased vehicle, can the vehicle be protected from the trustee?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.

WebLaw :

*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*

WebLaw :

Have you prepaid the lease in full or are you paying monthly?

JACUSTOMER-3aelf3xv- :

Paying monthly

WebLaw :

In either a chapter 7 or a chapter 13 bankruptcy, the trustee would typically not be interested in taking a leased vehicle. The trustee is interested in assets that can be sold for the benefit of creditors. A leased vehicle that you are paying on monthly would not typically have a value other than to you. You would typically be able to continue the lease according to the lease terms provided you continue to make the payments as agreed.

WebLaw :

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Best wishes for a Happy and Healthy New Year!