Auto Lease Repo and Bankruptcy?
Chris B asked:
My attorney advised me to stop paying for the auto lease i currently have while i am filing for my Chapter 7 bakruptcy. He said id be able to keep the auto for a bit longer this way instead of having to include it into the bankruptcy. But i have been reading that i will have to pay differences of value for a repo. Is this true with leases? I am going to ask my attorney as well, but i always like other responses to make sure i am going in the right direction with this attorney. Thanks.
My attorney advised me to stop paying for the auto lease i currently have while i am filing for my Chapter 7 bakruptcy. He said id be able to keep the auto for a bit longer this way instead of having to include it into the bankruptcy. But i have been reading that i will have to pay differences of value for a repo. Is this true with leases? I am going to ask my attorney as well, but i always like other responses to make sure i am going in the right direction with this attorney. Thanks.