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Bankruptcy Law Center
ABOUT CHAPTER 7
HOW CHAPTER 7 WORKS
THE CHAPTER 7 DISCHARGE
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HOW CHAPTER 13 WORKS
THE CHAPTER 13 DISCHARGE
STATE EXEMPTIONS
COURT GUIDE
ROLE OF THE TRUSTEE
BANKRUPTCY TERMS
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FREQUENTLY ASKED QUESTIONS

 

How is a leased vehicle treated in bankruptcy?

A leased vehicle is treated as an executory contract and the monthly payment is included in Schedule J along with the normal monthly expenses. Because you do not actually own the vehicle, it is treated as a rental and actually carries no asset value.

You can choose to keep the leased car and continue to make payments or you can turn the car back in and be free of any future payments.


Limited Time Offer! Order our online bankruptcy software today and keep your car. Save 50% during our April Sale!
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