Lease car

Snoopy5

New here, I have come to the conclusion with help from debt advisor that br might be my best option.
To cut a long story short, I lost my child aged 8 at the beginning of the year, it was a sudden death, it has turned my world upside down, I was unable to return to work and am having counselling and on anti depressant medicine. I’m now awaiting to hear about universal credit, I have 2 other children 3 & 10.
I have around £30k split between 5 creditors, mainly credit cards, I had to pay funeral costs and have been living off my cards ever since.
I haven’t missed any payments yet but won’t be able to afford them this month

I have a lease car, 4 years I have had it 2. I want to hand this back but the lease company want £2.5k. Can anyone advise me on what my best cause of action with this is? Do I not pay & wait till it’s repossessed?
I’m assuming I can include the fee in my br? But not sure how to go about it, how to approach the lease company

Can anyone advise on the lease car, it’s not hp.

Thanks

maxmycardagain

Ideally you could do with the final bill from the leasing as proof and to have it wriitten off BUT (I believe) debts from all contracts/affairs pre-BR are included so while the final bill from the lease wont come fast, the end result will be as if it did.

stop paying the lease, if you have off road parking park it up and SORN it but they wont repo it for 2 to 3 months

do NOT pay the £2500 "fee"

check your lease contract, going BR might mean its due repo anyway

broaps

Hi Snoopy5

Is this a lease which includes the roadtax, insurance and servicing or are you responsible for these costs? Is there any balloon payment due at the end of the lease?

maxmycardagain

broaps wrote: »

Hi Snoopy5

Is this a lease which includes the roadtax, insurance and servicing or are you responsible for these costs? Is there any balloon payment due at the end of the lease?

none of which are payable if he goes bankrupt...........

broaps

It's true there's nothing to pay if you are bankrupt as it is just another debt that is written off. We had a car on PCP that we terminated early leaving a balance due. The collection of the car took a few weeks and we continued using the car until the day before it was collected even though we hadn't made any recent payments. If the lease includes road tax the leasing company could cancel it making it illegal to use on the road but otherwise I can't see any reason to sorn it as you would lose its use for no benefit.