Leasing Company goes belly up

What is the name of your state? New York
Need some help here cause I dont know what else to do. I recently finished paying a lease with a leasing company and decided to purchase the car at the end of the term. I send the leasing company the payoff amount requested in the contract and never receive a title. After 2 months I call the leasing company and they never return my calls. I then decide to do a little investigation and find that the title is held by a major bank (who shall remain nameless). I get in touch with them and they tell me, yes they have my title and are awaiting payment from the leasing company. The payment includes my payoff amount. I try to fight it between the leasing company and the bank to relase the title if payments and payoffs by me (the consumer) have been made.
Finally, the bank tells me the leasing company recently filed for bankrupcy and they are holding my title until the bank's lawyers can settle. My quesitons are this.
1) Am I in danger of looseing my car after paying it for 48mos in a lease and paying off the full amount???? Can the bank (owning the title) confiscate the vehicle and Im out $25,000???
2) Can a lawyer (using my paperwork) show that I made the payments, and insist that the bank fight the leasing company for the money and hence relase the title to the consumer???

I have a bad feeling that I am going to come out with nothing to show. Any help would be appreciated.

Thanks
LT

[JETX]

Q1) "Am I in danger of looseing my car after paying it for 48mos in a lease and paying off the full amount???? Can the bank (owning the title) confiscate the vehicle and Im out $25,000???"
A1) Can't say no without reviewing ALL the facts and issues, but it would be unlikely for the bank to confiscate the vehicle... and even less likely if you can show that you made the payments.

Q2) "Can a lawyer (using my paperwork) show that I made the payments, and insist that the bank fight the leasing company for the money and hence relase the title to the consumer???"
A2) Not likely. At this time, all teh issues are in bankruptcy court and you will have to wait until the case is completed.

Looks like it just got better..

I just got in the mail today a letter from the Leasing company's lawyer asking me to post a claim and gave me a form to fill out. Says I have til Feb 2003. Is that when they will settle on this? I guess I have to find a lawyer of my own now to inerpret the form. I dont want to just fill it out and find that I somehow wavierd my rights.

Is this standard procedure?

[JETX]

I assume that this is a creditors claim statement from the bankruptcy court. If it is, it won't do anything to help your situation get resolved. However, it will document your claim for funds from the bankruptcy petitioner.

When you say my claim for funds, I assume you are reffering to the vehicle itself? What's confusing here is am I looked at as a debitor? I had paid the leasing company, then they claim chap 11. However, the vehicle in my posession is paid in full (based on my payments and proof of payments) but the leasing company never paid the bank.

I would think that the bank is in theroy "on my side" and wishes to be paid for the lein with the leasing company. They are fighting the fight.

[JETX]

Without the opportunity to review all the documents, etc., it is possible that the letter you received is a creditor notice. An example of how this could happen would be if you had paid money to the petitioner and he had not paid that money to the lender, therefore, the petitioner could be holding your money.... making you a creditor.