Answer: Yes, if you have not declared bankruptcy, you are liable for all outstanding payments on a leased vehicle. In most cases the leasing company will sell the vehicle to recover the amount owing; if there remains a balance owing, they will pursue you for the difference.
If the vehicle is repossessed or surrendered prior to your bankruptcy, any remaining balance owing is included in your bankruptcy; in that case they cannot pursue you for the remaining payments.
Labels: bankruptcy Winnipeg
posted by Questions @ 5:53 AM
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