CAR LEASE ASSUMPTION ( not reaffirmation)

[vb1962]

"I have a "lease to own car" included in Chapter 7 bankruptcy. It is included on Schedule "B" as personal property with a current value of $7000. It is not listed on Schedule "C" as property claimed as exempt. It is listed on Schedule "D" as an auto lease with $5611 as unsecured and $12611 as amount of claim. It is listed on Schedule "G" as an unexpired lease. On Form B8 (debtor's statement of intentions) it says the lease will be assumed and the property will be retained. Where it says "if retaining property, I intend to........the "OTHER" box is checked with no explanation in the available space. My 60 days after my 341 is fast approaching. I am very confused about my options .........can this car be returned at any time? I understand there would be no reaffirmation agreement since it is a lease but the car is not turning out to be a great car by any means. Any thoughts or info would be fantastic!][/SIZE][/FONT]

[vb1962]

I have been making payments as per my lease agreement. The franchise dealer has an alternate lot off site and that is where I make my payments in a buy here pay here fashion that is called "lease to own".

[keepinitreal]

Contact your attorney and ask to change your "lease will be assumed" from YES to NO. Hopefully you can change that before the 341. If you change it to NO, you should be able to return the car without penalty due to your bankruptcy.

[vb1962]

341 was april 1st. awaiting discharge.