Legal Question in Bankruptcy in California

Car Lease

I declared bankruptcy about 3 years ago. I did not continue to pay for my car and Honda Finance Charged it off on my credit. Now the lease company is calling. Since it is charged off on my credit do i need to turn it in.


Asked on 3/05/07, 4:57 pm

2 Answers from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Car Lease

Yes. If you are in default under the lease, they have a right to repossess.

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Answered on 3/05/07, 5:07 pm
Robert Mccoy Law Office Of Robert McCoy

Re: Car Lease

You do not owe the unsecured portion of the debt, but the secured portion is not discharged in a bankruptcy. The finance company has a right to repossess if you do not make your payments on time. You just will not be sued for any deficiency. The new laws that came into effect after you filed allow a creditor to repossess even if you are current on your payments--these new laws do not apply to you.

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Answered on 3/05/07, 5:59 pm


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