Whether leased vehicles have a place on the bankruptcy means test as “secured debt” if the cost is over and above the standardized deductions. Some have said they list it on Schedule D in order to factor the “secured” debt into the means test; others have said – list it on schedule F and G – since its a lease and the underlying debt is NOT secured by property of the estate; I think the UST’s position was that the debt should NOT be listed on Schedule D. The good news is that the UST will allow you the entire IRS ownership allowance for a leased vehicle. If the lease payment is more than that, you are limited to the IRS allowance. If your lease payment is less than that, you still get the entire IRS allowance. The debt belongs on Schedule G (sometimes it is also listed on Schedule F because Schedule G debts are not always included on the matrix). On Line 23, include the leased car. Enter the IRS standards. Do not enter anything on Line 23b. The entire IRS allowance is then on line 23c. Do not put anything on line 42.
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