Car lease before and after

What is the name of your state? Ohio

To work, my wife and I will need two cars, one for her, one for me. We own one car, a 95 Honda that would meet the Ohio exemption, I believe. We want to lease a second car. If we lease before we file (if we file), what happens to the lease after the filing? Can we reaffirm that? Will the company terminate the lease?

What about afterward? If we don't have a second car at that point, how can we get a second car? Would we be able to lease? Can we have someone "give" us a car (in other words, have someone else purchase the car but we'd make the payments)?

If this is truly a fresh start, how fresh is it?

[Elmo-1]

mottom - i hate to hog all your posts, but since no one else is chiming in, here goes. Whatever you need to do regarding transportation, do it before you file. Sub-prime interest rates and doubled down payments will rule in your post-bk quest for a car loan.

Leasing is less likely because, as I was told by a few dealers, it actually takes better credit to lease than buy. Haven't figured that one out yet. This will be the story until you can rebuild your credit score after discharge. Play by all the rules and it can happen inside of 24 months. So, before you file, make sure you and your wife have cars that'll go the distance with you.

If you lease a car before filing, on your statement of intentions you would show that you intend to do a lease assumption - as opposed to a reaffirmation. It's the same thing, just different terminology. At least that's what I was told today during a long discussin with my leasing company (fwiw, they actually agreed to start mailing out statements again).

There's nothing stopping a friend or family member from giving you a car while you pay for it. To keep the gift from being an issue, don't put it in your name until after the 180-day Bk 'entitlement' period is up.