thegoodintent;715663]My question involves bankruptcy in the state of: New York
I've recently sold some equipment that was leased that had a $1 buyout option over 6 years (I am in the 2nd year). I didn't sell all of the items, only about 40% of it, which amounted to about $20,000. I used the funds to acquire a different piece of equipment which is imperative to my business for the duration of the lease term. I am current in my payments and will be for the entire duration of the lease. I also have enough cash reserve to be able to fully pay off this item if need be but that would impact my cash flow which is why I sold off the original equipment in the first place to acquire the alternative replacement.