Leased auto – status in bankruptcy

by Questions on 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 comment… read it below or add one }

Bruce Gandossi August 30, 2006 at 2:20 pm

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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