CH 7 discharged- wanting to turn in reaffirmed leased car early..?

[Kimmiee78]

Hello
My ch 7 discharged a few weeks ago. I have gotten approval for a different vehicle (cheaper payments, better gas milage) and wish to turn in my lease vehicle early (turn in date is Oct 2014). I included my vehicle in my statement of intentions as far as keeping it because I was worried if I didn't it would be repo'd and I would be without a vehicle.

My lease is through NIssan.

I am wondering if the dealership gives me the buyout price on my lease , can Nissan take any further action as I am terminating early?
I have ended leases early twice before with no issues - but I also wasn't involed in BK at those times.
Any advice would be greeatly appreciated. THanks.

[keepmine]

Unless you actually signed a reaffirmation agreement and it was properly filed you should have no liability for any balance.

[AngelinaCat]

Hi kimmie78: Welcome to the Forum.

I had to remove your duplicate post, since it is identical to this one but was located on another board. It is against Forum rules to post duplicate posts/threads as it becomes very confusing for people trying to follow and answer the threads.

If you haven't had a chance to review the rules, now might be a good time to take a few minutes and do so:

http://www.bkforum.com/announcement.php?f=17

Thanks!

[ccmisery]

Hello
My ch 7 discharged a few weeks ago. I have gotten approval for a different vehicle (cheaper payments, better gas milage) and wish to turn in my lease vehicle early (turn in date is Oct 2014). I included my vehicle in my statement of intentions as far as keeping it because I was worried if I didn't it would be repo'd and I would be without a vehicle.

My lease is through NIssan.

I am wondering if the dealership gives me the buyout price on my lease , can Nissan take any further action as I am terminating early?
I have ended leases early twice before with no issues - but I also wasn't involed in BK at those times.
Any advice would be greeatly appreciated. THanks.

Nissan won't care even if you assumed the lease, as long as they are paid by you or someone else.

Not sure if you can write it off after discharge, you could have prior if you filed with the intent to return the car, you will have to pay off the payments of the car with another lease or finance, the dealer offering you the deal will not give you a clean slate purchase or lease, they make you pay for the remaining months on your lease with payments added to your new car.

[LadyInTheRed]

Assuming a lease is not necessarily the same thing as reaffirming a secured debt. I have no experience with lease assumption, but did a little research. Some courts apparently require you to follow the reaffirmation procedures to assume a lease while others don't. I suggest you ask your attorney about the consequences of terminating your lease early.

[bcohen]

There is no "unintentional" reaffirmation of a lease. If you did not explicitly assume the lease by declaring it on your Schedule G and checking the box for "assume" on your Statement of Intentions, then the lease is deemed rejected. You can turn in the vehicle without further obligation.