I don't know what to do! I have a car lease with 15 months left on it and its currently 1500 miles over. Will the leaser at the time I file want the car back because its over mileage, etc..? Or can i continue to pay the lease and at the end attempt to turn it in for another car?
-
-
When you file, you simply list the lease on your Schedule G, and it is then deemed rejected unless you say that you are assuming the lease on your Statement of Intentions. (You can obviously explicitly reject the lease on your Statement of Intentions, but that's not required.) The lender will most likely not repossess the car, as long as you keep paying the monthly payments. When the lease is over, or at anytime before, you simply return the car, and any over-mileage or damage fees are unenforceable because the contract giving rise to these fees has been rejected through bankruptcy.
Comment