one leased,one paid off
i have two vehicles, one is newly leased, valuing to $30,000 and a paid off valuing to $2,500 or less, if i go on bankruptcy, will i be able to keep both or will i be told to return the leased one?
Posted from: British Columbia
Whether or not you will be able to keep the leased vehicle is between you and the leasing company. Some companies allow good customers (that is people that haven’t had payment problems) to keep their vehicles even after they file for bankruptcy. Some companies do not.
Whichever truste you decide to deal with should be able to tell you how the leasing company you are with will react to your bankruptcy.
As long as the second car meets the BC exemption rules you should be able to keep it – again, this is something to discuss with your trustee.