What happens if a auto leasing company goes out of business while I still have an active leave with them?
Question:
Answer:
The first answer is correct. There will be a company that will buy the lease. They will expect you to pay all back payments right away if they do not want to re-negotiate a lease.
My advise is to take your payment ant get a money order each month to show you were ready and willing to pay but could not because there was no payment information given to you.
You can also contact your state's secretary of state or the agency that tracks corporate bankruptcy to find out who bought the assets.
if they went bankrupt, the lease is an asset that was sold to another company. you should have been notified of that.
who do you send your lease payments to?
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