Car lease?

[Jasonc126]

If you are filing a Chapter 7 and you still have a car that you are leasing, will GMAC still let you lease another car when your old lease is up.

[Jasonc126]

bump

[rockyroad]

Your credit will probably be too low to lease again after a Chapter 7

[broken64]

I had Gmac and they wouldn't for me so I surrendered the car at the dealership, good riddence there are tons of good reliable vehicles for alot LESS money.

[ska]

I had Gmac and they wouldn't for me so I surrendered the car at the dealership, good riddence there are tons of good reliable vehicles for alot LESS money.

You surrendered the car? Was the lease up or did GMAC not allow you to reaffirm?

[broken64]

Lease would have been up on Feb 16, we have two other vehicles didnt want to lose them. Before we even decided to meet with our lawyer I spoke with a GMAC specialist to way out my options, but with what we owe over 100,000 in unsecured debt, the amount they wanted us to put towards the buyout and payments was a no win situation for us. We discussed this with our lawyer during our first meeting and he agreed so we surrendered the vehicle. Every situation is different, keep that in mind so check out your options, as for leasing another vehicle and claiming bk I highly doubt it will be the best option, but who knows.

[Jasonc126]

So I won't be able to lease again?

[keepmine]

The reality is, in the current economic environment those of us with a blemished credit history will find financing more difficult.
Until GM got that check from the govt. in Dec. they were doing very little financing for people with good credit.

[Jasonc126]

Yes but once my old lease is up do you think they will let me lease another? I always make my payments on time too.

[keepmine]

All you can do is apply and see what happens.