Means Test Exemptions : Leased Vehicle in Illinois

Asked almost 2 years ago - Chicago, IL

Can a leased vehicle expense be included in a chapter / 13 bankruptcy means test , in Illinois

Attorney answers (3)

  1. Luke Allen Thomas


    Contributor Level 11


    Lawyers agree


    Answered . Yes it can be up to the maximum allowable amount. You should discuss this with your attorney an also discuss the reasons for wanting to continue the lease. It may be in your future economic interest to abandon the lease and surrender the vehicle.

    Good luck.

    This response is being provided for information purposes only and does not constitute an attorney client... more
  2. Richard Edmund Hawkins


    Contributor Level 16


    Lawyers agree

    Best Answer
    chosen by asker

    Answered . That's not an Illinois question, but a general bankruptcy question..

    Leased vehicles qualify for the ownership deduction on the means test.

  3. Dorothy G Bunce


    Contributor Level 20


    Lawyers agree


    Answered . The deductions on the Means Test are the same in every state. You may take the deduction for the lease of a vehicle as you would be able to do so for making an ownership loan payment. Hope this perspective helps!

Related Topics


Bankruptcy is a legal way for people or businesses who are no longer capable of paying back their bills to clear these debts and start over.

Chapter 7 bankruptcy means test

A bankruptcy means test is required for chapter 7 bankruptcy. A means test considers factors such as your income and size of your debt to determine eligibility.

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