Legal Question in Bankruptcy in Tennessee

Re: reaffirming lease car

Short answer -- Do not tell your car lease/finance company that you are about to file bankruptcy.

I believe any potential bankruptcy filer should never disclose to any creditor his/her intent to file. You should work closely with your attorney and let the attorney make the decision as to when it is best to give notice.

You asked about reaffirmation so I assume you have some background information on this concept. Basically, you are declaring that you will continue to acknowledge and repay a particular debt. Often the debt is repaid according to the original terms (i.e. interest rate, number of payments, etc.). However, a good attorney can sometimes negotiate better terms. THERE ARE SEVERAL STRATEGIES THAT CAN BE UTILIZED IN TERMS OF CAR LOANS. I'm not sure why you would want to make an additional lease payment. When you and/or your family is in financial distress this is not good strategy and it is not required for a reaffirmation to be accpeted. Most car financing companies require that you are merely current on your payments. ph. (800) 303-0720