Leasing an item in Chapter 13

[CaseyKnox]

I recently replied to an old thread (not realizing it wasn't allowed), and was told to create a new thread....so here it is

This was my original reply on the old thread. . .

[[I too am about to file BK-13, and I also have a lease on wheels.

I was driving an xterra, it just quit working one day. After numerous attempts (and a lot of money ) to fix it, we decided to send it back, and lease a BHPH car.

When we got the caliber, the tires were shot.

We went to Rent-A-Wheel (local rent to own tire shop), because we didn't have the extra money sitting around to buy new ones.

Caught up in the moment, we ended up getting the tire/wheel combo. The payments are doable, but now i'm just worried how the court will look at the purchase.]]. . .


Has anyone else been through a similar situation, not necessarily leasing tires, but filing chapter 13 while leasing something. Did you get to keep it, and continue leasing it?

Thanks!

[LadyInTheRed]

People keep things they lease all the time. In fact, in Chap 13, most debtors keep all of their property, unless it is leased or encumbered by debt and they can't keep up the payments.

This is the first I have ever heard of renting tires. I can't imagine them wanting to repossess used tires!

[bcohen]

I don't understand--your Xterra broke down, so you decided to LEASE a used car from a "buy here pay here" dealership that didn't even come with roadworthy tires? And as a result of this poor decision, now you have chosen to LEASE custom rims and fancy tires??! Was there not anything available which you could BUY that was at least in ready-to-use condition?

[CaseyKnox]

People keep things they lease all the time. In fact, in Chap 13, most debtors keep all of their property, unless it is leased or encumbered by debt and they can't keep up the payments.

This is the first I have ever heard of renting tires. I can't imagine them wanting to repossess used tires!

Thank you

[CaseyKnox]

I don't understand--your Xterra broke down, so you decided to LEASE a used car from a "buy here pay here" dealership that didn't even come with roadworthy tires? And as a result of this poor decision, now you have chosen to LEASE custom rims and fancy tires??! Was there not anything available which you could BUY that was at least in ready-to-use condition?

Yes, I had no vehicle after the xterra broke down, and with such low credit scores, this BHPH lot was the only one to approve us. The caliber was the only thing in our price range.