Dear Terry,
My boyfriend had two leased cars. He lost his job and the cars were repossessed. We received a letter stating that we had to pay early termination fees for both cars. Do we have to pay that?
-- Sherry

Dear Sherry,
Unfortunately, the answer is yes. According to most lease contracts, you are liable for any early termination of the lease, whether it's because you just want out of the lease or whether the vehicle is repossessed. Not paying it will likely further damage your credit, so I suggest you contact the leasing company and see if they will settle for a lesser amount.

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