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Honda won't do lease assumptions but sent a reaffirmation agreement
Honda won't do lease assumptions but sent a reaffirmation agreement. I informed Honda that section 365(p)(2) applies to leases and that the proper treatment of a lease is to assume or reject, but they said they don't do lease assumptions. They want the debtor to sign a reaffirmation agreement. They did say (over the phone) that the debtor can "retain and pay". Should client sign the reaff and set it for hearing so the judge can disapprove it? Are any of your debtors signing reaffs on leases? Is Honda repossessing when the debtor doesn't sign a reaff on a lease?
Thanks,
Holly Roark
holly@roarklawoffices.com
The post was migrated from Yahoo.