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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2870
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I am in chapter 7 bankruptcy. My car is leased. I dont own

Resolved Question:

I am in chapter 7 bankruptcy. My car is leased. I don't own the car and am not even accruing any equity in the car, do I still list it on Schedule B? Or do I list it on Schedule G as an unexpired lease?

Thanks!
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 3 years ago.

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

Yes, you would list it on schedule B

Terry L. :

You would list the lease on schedule D and the lease terms on schedule G

Terry L. :

You list the car on B, the debt on D, and the lease terms on schedule G. Don't forget to include the buyout information at the end of the lease. Include that in the balance owed on the car.

Terry L. :

on schedule D.

Terry L. :

Let me know if you have any further questions. thanks

Terry L. :

Terry

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