Quick Answers to Bankruptcy Questions & Understand How Bankruptcy Laws Affect You

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I am in the middle of a Chapter 7 Bankruptcy. May I surrender leased car early? Must I check with the lawyer?

bankruptcy law

Please only answer if you’ve previously been through a bankruptcy, are a lawyer, or are in law school.

This entry was posted on Tuesday, September 30th, 2008 at 6:01 am and is filed under Bankruptcy Law. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

5 Responses to “I am in the middle of a Chapter 7 Bankruptcy. May I surrender leased car early? Must I check with the lawyer?”

  1. thylawyer Says:
    September 30th, 2008 at 12:29 pm

    You should have signed a document called “Debtor’s Statement of Intention,” indicating whether you were surrendering or retaining the vehicle. If you checked off “surrendering,” you can do it any time. If you checked off “retain and pay off the debt,” it gets more complicated and may require an amended Statement of Intention. Every Bankruptcy Court is a little different.

  2. Beez Says:
    September 30th, 2008 at 4:24 pm

    Yes, check with your lawyer.

  3. Mom Says:
    October 2nd, 2008 at 11:09 pm

    every state does things a bit different, your best bet is to check wth your lawyer, theres more then one way you could have filed, depends on how it is listed and what you have signed and agreed to. My advice is to always go through the lawyer, that what you pay him for.

  4. ihateinternetdating Says:
    October 6th, 2008 at 2:34 am

    The answer you got about each state being different is wrong, this is federal court, same all across the country. You have to tell your lawyer what you’d like to do, the events in bankruptcy court are scheduled and need to be documented by one side or the other.

    If you just give the car back without the proper paperwork you’re creating a mess for yourself. Call and ask him, his secretary can probably tell you.

  5. lawyermama Says:
    October 6th, 2008 at 6:10 pm

    You are probably going to need to amend your bankrutpcy petition, so you need to speak to your lawyer. You can surrender your leased car when you want, I guess, or you could probably keep it, if you want, because you don’t have any equity in it.