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Means Test Exemptions : Leased Vehicle in Illinois

Chicago, IL |

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

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Attorney answers 3

Best Answer

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

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


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!


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 relationship. Furthermore, I am only licensed to practice law in the State of Illinois. While there are oftentimes similarities between States' laws, there can also be large differences. You should not rely on this response as legal advice and are highly encouraged to speak to an attorney licensed in your State for an accurate legal answer.

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