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DrakeLAW, Lawyer
Category: Legal
Satisfied Customers: 358
Experience:  Attorney at Drake Law Firm PLC
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I filed for chapter 7 Bankruptcy last year. I assumed my car

Customer Question

I filed for chapter 7 Bankruptcy last year. I assumed my car lease, but now I have fallen into some legal troubles and I can no longer pay for my almost 500.00 a month car payment and I will not be able to drive for a year. Can I walk away from the lease with out any penalties because I never signed anything with the finance company, just its states onthe bankruptcy the lease was assumed.
Submitted: 2 months ago.
Category: Legal
Expert:  DrakeLAW replied 2 months ago.

Hello and welcome to JustAnswer, my name is ***** ***** I am an attorney. Please note:This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. This question and response may be viewed by other parties as noted in JA’s terms of service. By continuing, you confirm that you understand and agree to these terms.

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Please tell me exactly where you are saying you see that it says the lease was assumed. Is it in the form titled Statement of Intentions only?

Customer: replied 2 months ago.
its just one page in the filing and it state car lease "assumed"
Expert:  DrakeLAW replied 2 months ago.

Ok, well that is just a statement of your intention. The lease was not actually assumed however as that right belongs to the chapter 7 trustee. So assuming you got a discharge, then the lease obligation is discharged and you will not be liable for any damages.

Customer: replied 2 months ago.
Should I just let them repo the car then?
Expert:  DrakeLAW replied 2 months ago.

Yes, or contact them to turn it over. Up to you.

Expert:  DrakeLAW replied 2 months ago.

You would be liable if you had executed a Reaffirmation Agreement with them. Any further questions?

Expert:  DrakeLAW replied 2 months ago.

Please kindly rate the question so that it may be closed and I may receive credit. Thank you.

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