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Bankruptcy Law/car repossessed after bankruptcy

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Expert: - 2/27/2009


Question
I recently filed bankruptcy but have not yet been discharged. I reaffirmed to keep my auto lease.  I was behind in payments, but was working with the lender to get current. I was still due for Jan and Feb but told them that I would be making a payment before the end of this month. They said they would work with me but repossessed my car anyway. What can I do? Can I still include them in my bankruptcy since it has not yet been discharged? The debt was incurred before filing.

Answer
Leases don't get reaffirmed, they get "assumed".   If this is a Chapter 7 case, and if you signed an assumption of the lease, then it takes it out of bankruptcy so that you will owe whatever penalties and costs there are under the lease.  There may be specific requirements that the lessor has to take in order for the assumption to be valid, so you should check with a bankruptcy attorney in your district.










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Mark J. Markus- California Bankruptcy Attorney

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Mark J. Markus is a Los Angeles bankruptcy attorney who has practiced exclusively bankruptcy law in California since 1991 and is rated A+ by the Better Business Bureau and is AV-rated by Martindale-Hubbell. He represents debtors, creditors, and Trustees in Chapter 7, Chapter 11, and Chapter 13 of the bankruptcy code throughout California.

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Visit our California bankruptcy webpage at http://www.bklaw.com for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint).
The Markus webpage also contains more information on

  • Which Chapter to File,
  • business bankruptcy,
  • chapter 7 bankruptcy,
  • chapter 11 bankruptcy,
  • chapter 13 bankruptcy,
  • Do You Need a Lawyer to File Bankruptcy?
  • Frequently Asked Bankruptcy Questions

    Also visit our Los Angeles bankruptcy blog for interesting articles and much more.



    Organizations
    Central District Consumer Bankruptcy Attorneys Association (CDCBAA) Los Angeles County Bar Association (LACBA) Commercial Law & Bankruptcy Section of the Los Angeles County Bar Association Financial Lawyers Conference (FLC) National Association of Consumer Bankruptcy Attorneys (NACBA) Los Angeles Bankruptcy Forum (LABF) American Bankruptcy Institute (ABI) San Fernando Valley Bar Association (SFVBA)

    Publications
    Central District Consumer Bankruptcy Attorneys Association Newsletter September 2007 (Vol. 1, Issue 2)

    Education/Credentials
    J.D., University of Arizona 1990. B.A. Economics, California State University, Northridge 1986. For more details please click here

    Awards and Honors
    AV Rated by Martindale-Hubbell (http://www.martindale.com) A+ Rated by Better Business Bureau

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