Will I be Able to Keep My Leased Car During Bankruptcy?


The answer is yes. However, certain conditions are going to apply. If the leasing company agrees, you can keep a leased vehicle if you continue to make your lease payments.  Many leasing agreements contain a clause that states that “in the event of insolvency, the leasing company can terminate the lease, and repossess the vehicle”. Legally, they can repossess the vehicle, but they usually prefer to get ongoing lease payments. Your leasing company is a secured creditor and they will hold your car as security.  If you are experiencing financial issues, it could be because your expenses are too high each month. We highly recommend that you speak with a Licensed Insolvency Trustee for some advice.



If you are overwhelmed with a financial crisis, J.P. Graci & Associates Ltd can help! Call us now at 519-753-7361.



WHAT OUR CLIENTS SAY?

This service is amazing! The team at JP Graci helped me with the stressful decision of going through a negotiation an understandable and simple process. From the explanation to instructing me on the r...

James K. July 25, 2017

Thanks again Sabrina, I can't say enough how much I appreciate everything you, Paul and company have done for me. It's overwhelming sometimes to think that someone still has their dignity even once th...

T.K. July 7, 2017

The staff were lovely and incredibly helpful. They were empathetic with my stress from the bankruptcy. They also gave great advice on my credit recovery. Thanks especially to Paul for his service and...

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Thank you, Paul for helping get my life back on track.

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Thank you so much for everything you have done for me. These months of lessons will serve me for the rest of my life and I will never be able to fully express how grateful I am for this new beginning!

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The team at JP Graci has always been very helpful, having this company help me get out of massive credit card debt has made my life so much better! All I know is that its very easy to get into debt wh...

Fred L. January 9, 2018

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