Should I make the lease payment?

[bk249]

I am probably a few weeks from declaring BK7. At first I thought I was going to assume my lease (09 M Benz C300 - $625/mo). Yes, I know its high...but I'm in SDNY, but now I am thinking that I just don't want that high payment post BK. Add to that I need tires all around, an expensive service and body work on the front bumper...it just makes sense to dump it. I was current until my last payment...due Aug 16, which I didn't make. I am debating on whether or not I should make the payment. How long will it take for DCFS to get into repo mode (end of this week I will be 2 payments behind). And if I dont get to file until October...

[catleg]

Sounds like you'd better start keeping that car in the garage! Most people seem to get scooped up about 30-45 days past due, which equates to roughly the 2nd missed payment.

Or at least don't leave anything valuable you want to keep in the car.