QUESTION
What can happen if I have been approved to rent apartment, I file bankruptcy, and I have a lease vehicle?
Asked on Sep 23rd, 2012 on Bankruptcy - New Jersey
6 ANSWERS
As long as you are able to make your payments, both on the lease and on the apartment, nothing should happen to either. It is ultimately up to the creditor as far as what they do, but they must find a basis other than the bankruptcy.
Answered on Sep 24th, 2012 at 6:13 PM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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You will have to make the car payments or turn in the car. You may not have a problem with the landlord. They can give a 30 day notice for any reason, so it is up to the landlord.
Answered on Sep 24th, 2012 at 6:12 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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There is no guarantee as to these questions. Perhaps it would be best to move into the apartment before filing for bankruptcy. Then keep the lease current on vehicle so long as you wish to keep it after bankruptcy. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
Answered on Sep 24th, 2012 at 6:11 PM
Probate and Estate Planning Attorney serving Harrison, MI
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David T. McAndrew, Attorney at Law
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If you continue to make your rent payments, are current on your lease and rent, reaffirm the lease agreement, you can continue to maintain both the apartment and the vehicle.
Answered on Sep 24th, 2012 at 6:11 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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In New Jersey, you can reaffirm both the leased vehicle and the apartment lease, provided that you have the sufficient income for both.
Answered on Sep 24th, 2012 at 6:10 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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What is it that you are worried about? If you rent an apartment and file bankruptcy, but do not pay the rent, you can be evicted. If you have a lease vehicle and you do not make the payments, it can be repossessed. There is a federal law which comes into effect when you file a bankruptcy that stays all state court proceedings, but only until the court rules upon a motion to lift the automatic stay.
Answered on Sep 24th, 2012 at 6:10 PM