Question: If you are leasing a vehicle does it affect that lease if you go bankrupt?
Answer: In most cases, if you go bankrupt in Ontario, you can keep your leased vehicle, provided you continue to make the lease payments. The decision is left to the leasing company; if you are a good customer, they will normally allow you to continue to make payments. If you are behind on your payments, they may ask you to return the vehicle.
Each leasing company has different policies, so we suggest that you contact an Ontario bankruptcy trustee for more information.
Answer: In most cases, if you go bankrupt in Ontario, you can keep your leased vehicle, provided you continue to make the lease payments. The decision is left to the leasing company; if you are a good customer, they will normally allow you to continue to make payments. If you are behind on your payments, they may ask you to return the vehicle.
Each leasing company has different policies, so we suggest that you contact an Ontario bankruptcy trustee for more information.
Labels: bankruptcy Ontario
posted by Questions @ 12:06 PM
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