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lease vehicle

If I return my leased vehicle to the dealer and there is an amount owing for the mileage on the vehicle. What happens to the money owing if I can`t pay it and no one will provide me financing for it?

Posted from: Ontario

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One Response to “lease vehicle”

Barton Goth – Goth & Company Inc. – Bankruptcy Trustees said...

If you have not filed for bankruptcy or some other protection, thn just like any of your other debts the leasing company will try to collect from you directly.

If this proves unsuccessful then they will usually proceed to court, obtain a judgement and attempt to seize assets, moneis in a bank account or even send a garnishee to your employer.

However, if you file a bankruptcy or consumer proposal this chages as the creditors no longer have the right to pursue you during the bankruptcy or proposal and the debt will be extinguished when your bankruptcy or proposal is completed.