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Leased auto - status in bankruptcy

Posted on Wednesday, August 30, 2006

I owe $50,000 in credit card debt and can not meet the minimum payments any more. I know bankruptcy is an option for me. My question is, can I include a leased automobile in a bankruptcy? My payments are too high and it is a lemon.

1 Comments:

At 2:20 PM, Bruce Gandossi said…

If you are going to file for bankruptcy and have a leased vehicle that you cannot afford, you can stop making payments and return the vehicle to the lender. If there is a shortfall this will be included in in your bankruptcy.

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