Tag Archive: lease assumption

• 9th Circuit Equates Lease Assumption with Waiver of Discharge

  Posted by NCBRC - August 11th, 2020

  The Ninth Circuit found that a debtor who assumes a lease under Section 365(p) of the Bankruptcy Code waives her right to discharge of debt arising out of that lease. Bobka v. Toyota Motor Credit Corp., No. 18-55688 (9th Cir. Aug. 3, 2020).

  The debtor filed her chapter 7 petition in 2016. She had an ongoing lease with Toyota Motor Credit on her Toyota Rav4. The trustee opted not to assume the lease. In September 2016, the debtor called Toyota about keeping the vehicle.  Toyota agreed and sent her and her attorney a lease assumption agreement.  She did not return the agreement until December 5, well more than 30 days after she orally told Toyota she wanted to keep the vehicle.  The next day, the debtor received her bankruptcy discharge. Read More

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  HAVEN Act Guide 2019

   The Honoring American Veterans in Extreme Need Act of 2019 (“HAVEN Act”) excludes certain benefits paid to veterans or their family members from the definition of current monthly income (“CMI”) found in the Bankruptcy Code. The HAVEN Act amends § 101(10A) of the Bankruptcy Code and supplements the 2005 amendments to the Code that excluded other government benefits, such as social security income. 

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