Personal Bankruptcy Forum

Author:   LT
Date:   October 25, 2002
Question:  

I paid an automobile lease for 4 yrs, then decided to buy it. I sent the leasing company the payoff amount as designated in contract. Leasing company goes bankrupt, but lender bank holds title from me. Am I now in danger of losing my car to the lender bank? All the money I paid is now lost? What are my options?

 


From:
 

Ann Clarke, Collins Barrow Limited
Date:   October 28, 2002
Answer:   I'd recommend you seek advice from a lawyer who specializes in contract law. They will be able to explain your legal rights regarding the leasing company and the vehicle.

Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca




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