Legal Question in Bankruptcy in Florida

How to include a leased vehicle under Chapter 7?

A 70% loss of income has created a financial hardship that my wife and I can no longer handle. We sought debt counseling CCCS and were advised that with our limited income they could not assist, and suggested bankruptcy. A Bankruptcy kit was purchased, as we obviously cannot afford an attorney. We can not afford the $400 monthly payment on our leased 2nd car, with 23 months remaining. The kit advises that an auto lease cannot be included in bankruptcy. However, if we voluntarily surrender the car before we file, can the deficit balance be included in Chapter 7? If so, how do we determine the indebtedness amount?


Asked on 9/28/99, 11:54 am

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: How to include a leased vehicle under Chapter 7?

Surrender the collateral. List the remaining debt as unsecured in the amount the creditor claims as being due. You will obtain a discharge of the underlying obligation. You should consult with an attorney. You will probably save more than the cost. You may call this office at 305-940-8080.

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Answered on 9/28/99, 7:07 pm


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