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TJ, Esq.
TJ, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 12106
Experience:  JD, MBA
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I leased a car in April 2015. I will be declaring bankruptcy

Customer Question

I leased a car in April 2015. I will be declaring bankruptcy in the next few months... I can't remember which chapter but it is the one I'll be able to keep my house. Will the car be repossessed? Thank you
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  TJ, Esq. replied 1 year ago.
Hello and thank you for the opportunity to assist you. My name is ***** ***** I will do my very best to answer your legal questions. Although filing a bankruptcy may be considered a breach of contract per the terms of the lease, the practical answer to your question is "no, your car will not be repossessed provided you continue to pay the lease." If you continue to pay, then the leasing company isn't going to spoil a good thing just because you filed for bankruptcy. As an aside, you can call the leasing company to ask for their position if you were to file for bankruptcy but continue paying. I haven't seen one yet that would repossess the car for no reason other than the bankruptcy. Does that answer your questions? Please let me know if you need clarification, and please remember to provide positive feedback.

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