Was forced into Bankruptcy due to Divorce. Have few bills (cable, cell, car, house and life Ins.) have income of 26700.00 yr, Bills are incl. rent 740.00. I have no problem making payments and I am always on time, but NO CREDIT. I need a vehicle that is reliable. Looking for something with mileage under 55000, that is no older than ‘08. I am in Central Ontario and need any ideas or help I can get. Thanks!
I was told by a car dealership salesman that the only way I could get into a car was through a lease, so I did. I have not had the vehicle for a year yet, but have put about 40K miles on it and am having a difficult time making the lease payment and paying the considerably higher insurance requried. I want to turn it back in, but am unsure about how much money they are going to try and bill me for for the mileage and wear and tear, and a host of other penalties etc. Will they put a lien against my home for this, garnish wages, etc.? Would filing bankruptcy before turning it back to them protect me from this? Would a bankruptcy be better than a repo on my credit history?