answersLogoWhite

0

  • Auto Loans and Financing
  • Repossession
  • Co-signing
  • Bankruptcy Law

Can you lease a car while participating in a chapter 13 bankruptcy?

User Avatar

Wiki User

βˆ™ 2006-08-31 16:23:55

Best Answer
Copy

Maybe. The court would have to give the person permission to enter into that type of financial agreement.

2006-08-31 16:23:55
This answer is:
πŸ€“
🀯
πŸ€”
User Avatar

Add your answer:

Earn +5 pts
Q: Can you lease a car while participating in a chapter 13 bankruptcy?
Write your answer...
Submit

Related Questions

Can you refinance during chapter 13?

While participating in a Chapter 13 bankruptcy, no major financial transactions are allowed w/o the permisson of the bankruptcy trustee.


In Pennsylvania does the participant in a chapter 13 need permission from the bankruptcy court to refinance property?

Yes, permission from the bankruptcy trustee/court is needed for any major financial transaction while participating in a chapter 13.


While in bankruptcy can you lease your property?

Yes


Can you refinance in chapter 13?

Yes. If you have had 12 months of on time payments to the truste and your mortgage has been paid on time,While participating in a Chapter 13 bankruptcy, no major financial transactions are allowed w/o the permisson of the bankruptcy trustee.


Can the mortgage lender foreclose on your home while you are participating in a chapter 13 bankruptcy?

Yes. A mortgage says that the loan is secured by the property. A "chapter 13" does not allow you to stop making payments on your mortgage.


Can you lease a car in chapter 13 bankruptcy without getting permission from the trustee?

You will need permission from the trustee before doing anything financial while in chapter 13 bankruptcy. You will have already signed paperwork agreeing to full disclosure with your trustee when you filed.


How can you refinance your home for a lower interest rate while in a chapter 13 bankruptcy if you do not want to pay off the bankruptcy and do not want to 'cash out'?

While participating in a chapter 13 the petitioner cannot refinance, sell, transfer or otherwise real property without receiving permission from the bankruptcy court/trustee to take the action. Therefore the issues cited are not relevant until/unless permission is granted.


Can you have a cosigner on a car loan while in the last few months of bankruptcy?

When participating in a Chapter 13 BK repayment all major financial transactions must have the approval of the bankruptcy trustee. If the person does not clear the action with the trustee the "13" can be dismissed with prejudice.


Can you file chapter 7 while in chapter 13?

No. Only one bankruptcy at a time.


While in a chapter 13 bankruptcy can you stop the bankruptcy?

Yes, and if things don't work out, you can refile.


Can a person get pre-approved for a home loan with a credit score of 567 if they are presently in chapter 13?

It's highly unlikely a lender would consider such a request. Additionally, while participating in a Chapter 13 bankruptcy, all major financial transactions must have the approval of the bankruptcy trustee before they can be undertaken.


Can an individual establish a corporation while on chapter thirteen bankruptcy?

Yes, a person can start a business or corporation while in the midst of a Chapter 13 bankruptcy case. If you are looking for start-up funding, you will have to ask the bankruptcy court for permission.


Can you lease a car while in chapter 13?

Yes, with court permission.


Can you buy a condo while undergoing a Chapter 13 Bankruptcy?

Your bankruptcy attorney, who has particular knowledge of your situation, can answer your question.


How do you buy a house while in a chapter 13 bankruptcy?

The chapter 13 petitioner/participant must receive the approval of the bankruptcy trustee for all major financial transactions.


Is there anyway to purchase a new home while still in chapter 13 bankruptcy?

When participating in a Chapter 13 bankruptcy, all major financial transactions must be approved by the bankruptcy trustee. One of the factors the trustee will take into consideration is if the transaction is necessary. For instance the purchase of a vehicle for transportation to a place of employment would probably be allowed. The purchasing of a home might not qualify as a neccessity unless it was an issue of health/safety.


What is chapter 13 bankrupt?

There is a big difference between chapter 7 and chapter 13 bankruptcy. Generally speaking, chapter 13 bankruptcy is a type of Reorganization bankruptcy. It filing a plan with the bankruptcy court suggesting how you will repay your debt. Some debts must be repaid in full while others require only a percentage or nothing at all.


Can someone open an LLC while in Chapter 13 bankruptcy?

Yes, nothing in the bankruptcy law prevents you from opening an LLC.


Do you have to be working to file for bankruptcy?

There are three types of bankruptcy namely Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Business Bankruptcy. Chapter 7 bankruptcy will discharge most types of debts for the average citizen. It will stay on record for ten years, but the major benefit is the stay it provides which prevents creditors from hassling you. On the other hand Chapter 11 bankruptcy is used by businesses, not citizens, to reorganize debts while Chapter 13 bankruptcy is wage earner's bankruptcy, which allows you to repay your debt through a plan. Among these three, Chapter 13 bankruptcy is considered as the best option for people with a steady income, who happen to have fallen behind in loan payments. idk and i dont give rats a**. hahahaha


Can i buyout my car lease while in a chapter 13?

In Chapter 13, you have the option to continue to pay for your car lease payment or you can opt out of your car lease payment. The trustee may not allow you to buyout a car lease if other outstanding secured debt needs to be paid.


What will happen to your direct deposit while filing bankruptcy?

Direct deposit of any monies while filing for Chapter 7 bankruptcy are safe. However, under Chapter 13 bankruptcy, an automatic payment may be required to the trustee from a direct deposit of wages and other sources of income.


Can a debtor in a chapter 13 sell their home to payoff their bankruptcy?

While participating in a chapter 13 all major financial transaction by the debtor(s) must be approved by the bankrupcy trustee. A house could not be sold, refinanced, have the titled amended or transferred and so forth, without the trustee's sanction.


Can you buy a house while in chapter 7 bankruptcy?

you can buy a house no matter what book you are reading.


Compare and contrast Chapter 7 and Chapter 13 bankruptcy?

Chapter 7 Bankruptcy is when a consumer or business asks the court to discharge the debts owed (some debts cannot be discharged). In exchange, the business's assets or the consumer's property is sold (liquidated) and the proceeds are used to pay off the creditors. Chapter 13 bankruptcy, or Reorganization bankruptcy involves filing a plan with the bankruptcy court suggesting how you will repay your debt. Some debts must be repaid in full while others require only a percentage or nothing at all. The main difference between the two is that chapter 7 discharges most debts while chapter 13 is a type of repayment plan.


Can a landlord evict a business tenant while there in chapter 13 bankruptcy?

A business cannot file a chapter 13. But a person can be evicted if he does not pay rent.