New car

[chrisbk]

if I purchase a vehicle while I'm in my current vehicle loan to secure another and than have that vehicle lease repossesd when I goto file will they be able to take it away?

[justbroke]

Vehicle A: a lease that you already have
Vehicle B: a new vehicle purchased on an installment loan

Are you saying that you want to file bankruptcy after obtaining (new) Vehicle B and then "surrender" Vehicle A? That would work and the lender for Vehicle B can't take the vehicle away unless a.) they require that you redeem or reaffirm (credit unions, very small banks, Ford Motor Credit, and maybe one or two other "factory" acceptance lender such as Toyota Financial Services), b.) you surrender the vehicle, or c.) you fail to pay.

Vehicle A is a lease so you would "reject" that lease. Vehicle B is an installment loan because you own the vehicle. You would either redeem, reaffirm, or surrender that vehicle. It reads as though you want to keep it. You would need to figure out whether you can "ride-through" with a surrender (although you would "pay" to "stay" in contract). If ride-through isn't available in your State, you may need to reaffirm the contract (it won't be discharged and you'll have full liability to pay).

Will this be a Chapter 7 or Chapter 13. Everything I wrote was written with respect to a Chapter 7.

[bcohen]

The OP doesn't make sense. His present vehicle is referred to as a "current vehicle loan" and also as a "vehicle lease". These are not the same thing! Also, it sounds like the OP might be asking if he can "surrender" the car he has now, but still keep driving it when he files.

[chrisbk]

It is for Chapter 13. My payments for my current lease is too high and currently 2k over mileage. It was suggested that I have the vehicle repossessed after securing a new car loan. I'm not filing for bankruptcy for a couple more months and wanted to know if lessor would take the vehicle away from me due to a certain amount of days leading up to filing.