Reaffirmation of Automobile Lease in Ch 7?

07-13-2001, 08:21 PM

Mrrusty

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Auto Lease in Chapter 7?

Will be filing chapter 7 next week. Would like to retain auto. Situation is (a) three months behind but recently was offered extension on back end for a fee (b) appx. 18 months remaining on 36 month lease (c) unsure if able to continue with current payment amount but could afford a lower payment resulting from extension of lease to perhaps 60 months.

What is the likelihood, based on experience, that the lienholder would accept such an arrangement given the depreciation of the vehicle and what, if any, input would the trustee have?

[Edited by Mrrusty on 07-14-2001 at 02:39 AM]

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