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Just filed Ch 7 and car lease ending next week..help!

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    Just filed Ch 7 and car lease ending next week..help!

    Hi!
    I live in California and just filed Ch 7 yesterday. I am currently leasing a BMW that is about to end next week. I am current on all payments, but do have excess miles(about 20,000!). What are my best options at this point? Can I extend the lease? Or just turn it back in? How can I go about getting another car during my automatic stay? or do I have to wait till my BK is discharged? I do need a car ASAP! thanks for any suggestions......

    #2
    You should of thought of this before you filed.
    Your chances of getting financing prior to discharge is remote. Lenders won't be able to send you a monthly bill without violating the automatic stay.
    Can you borrow a car from a relative for awhile?

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      #3
      I hope you're planning to surrender the car in the bk so that you're not liable for the excess miles. I certainly wouldn't extend the lease, then you'll end up liable for those extra miles as post-petition debt....
      Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
      0% payback to unsecured creditors, 56 payments down, 4 to go....

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