How Bankruptcy Affects Florida Uber & Lyft Drivers With Car Loans And Leases

In this article, you can discover…

• What happens to your leased rideshare vehicle if you file for bankruptcy.
• Whether your rideshare vehicle is legally considered personal or business property.
• The role an attorney can play in helping you protect assets as a rideshare driver.

What Happens To My Leased Rideshare Vehicle If I File Bankruptcy In Florida?

When you file for bankruptcy, the creditor from whom you’ve financed the vehicle will freeze your account, meaning you will now have to make payments over the phone rather than online. But as long as you make those payments, your leased vehicle will generally be safe.

Is An Uber Or Lyft Driver’s Vehicle Considered Business Or Personal Property In Bankruptcy Cases?

Your vehicle is still considered personal property, even if you use it to earn money as a rideshare driver. It’s similar to when someone files for bankruptcy after incorporating themselves and claiming their vehicle as a business vehicle.

Should you file for bankruptcy, because you own the business, you still own the car, and the asset is still an asset that will be taken into consideration by a bankruptcy court. The same principle applies to you as a rideshare driver with a vehicle.

Will Rideshare Income Complicate The Bankruptcy Means Test?

If you drive for Uber or Lyft full-time, you are not usually earning enough to have that income impact the Means Test. However, if you already have a full-time job and drive on the side, this added income could mean the difference between qualifying and not qualifying.

Attorney Alec Solomita is a caring, knowledgeable bankruptcy attorney serving Florida. Since 2007, he’s helped rideshare drivers just like you navigate bankruptcy, continue driving, and keep their main vehicles throughout the legal process.

Have questions, or in need of legal guidance? Reach out to Solomita Law, PLLC for an initial consultation today.

As A Rideshare Driver, Can I Keep My Car By Continuing Payments After Filing Bankruptcy?

In most cases, you should be able to keep your main vehicle by continuing to make payments. If you need a vehicle and are in bankruptcy already, some companies may be able to help you finance a car. Generally, people who have already gone through bankruptcy are able to go to a dealership and get a vehicle, so long as they can prove that they can make payments.

Having said that, some lenders have been tightening up over the past year, and you may have to shop around a bit for financing if you wish to buy a new vehicle after bankruptcy.

Can My Attorney Help Me Protect My Ability To Work After Filing?

While your attorney can not directly protect your ability to continue rideshare driving, they can help you sign a reaffirmation agreement or advise you on how to retain and pay (this will involve you continuing to make car payments, without putting it back on your credit report).

For their part, Uber and Lyft are not likely to care about or even be aware of your bankruptcy case, and so long as you continue to make payments on your vehicle, you should be able to keep driving.

Still Have Questions? Ready To Get Started?

For more information on filing for bankruptcy as an Uber driver in Florida, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (407) 255-7458 today.