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

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    Contributor Level 11

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    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

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    Contributor Level 16

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    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

    Pro

    Contributor Level 20

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    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!

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