Car lease is up one month before discharge... HELP!!!

[freshstart12]

First off I would just like to say thank you to everyone here who posts such interesting and informative information for all of us that are new to this process.

With that said, I am in a bind.. I think.... and I don't know what to do...

I have a leased car with Acura. My lease is up August 2nd to which I just paid the final payment today. We filed for Chapt. 7 BK on June 22nd so my discharge won't be until somewhere around Sept. 22nd. I would love to buy my car from Acura (I owe 25k) and I did get a pre-approval letter from them because of never missing a payment in almost 10 years of leasing with their company.

SO... has anyone had any experience with calling the car finance company (in my case it's America Honda Finance), asking them to extend the lease a few months while in BK???? Will they even let me buy the car now that I'm in bk??? Even with perfect credit history with them?

Thanks so much for any advice. I'm freaking out over here.

[BCA2009]

Call them ask them. It never hurts to ask. But are you sure you want to borrow 25K on a used car, immediately after discharge from BK.

I recommend buying a older used car and start saving and make a new start.

But you have to decide what is right for you.

[freshstart12]

I don't know what to do to tell you the truth. I am still struggling with anything that has to do with missed payments, giving cars back, not paying what I obligated to pay and on and on. So I guess I feel like if I keep this car, then I won't leave Acura high and dry on the mileage overage, etc. That will just be one less person that I feel like I've let down. UGH.

But we filed, we did it and we had to. For our kids, for our future, etc. I guess I have to get over all the other feelings and really start fresh. I'm getting there!

Thanks!

[BCA2009]

I don't know what to do to tell you the truth. I am still struggling with anything that has to do with missed payments, giving cars back, not paying what I obligated to pay and on and on. So I guess I feel like if I keep this car, then I won't leave Acura high and dry on the mileage overage, etc. That will just be one less person that I feel like I've let down. UGH.

But we filed, we did it and we had to. For our kids, for our future, etc. I guess I have to get over all the other feelings and really start fresh. I'm getting there!

Thanks!

Lots of people go thru those feelings, but in the end you have to do what's right for your family. And is incurring new debt good a good way to start?

There is nothing that will prevent you from paying anybody back down the road when you can afford it. But don't obligate yourself to something just because you feel guilty. Acura doesn't care if you can afford groceries for children. They look after their stockholders. You have to look out for your family.