ch13 financing???

[f86sabjf]

Hi All
we just filed in june is there any hope of finding financing for a car? my wifes car is going fast at 160,000 miles some big repairs are looming upahead and were trying to get out of it before she blows. WE are looking at only 8-10,000. Also if we can get a cosigner will that help at all?

Thanks
Jeff

[Nicollette]

Hi All
we just filed in june is there any hope of finding financing for a car? my wifes car is going fast at 160,000 miles some big repairs are looming upahead and were trying to get out of it before she blows. WE are looking at only 8-10,000. Also if we can get a cosigner will that help at all?

Thanks
Jeff

Yes it is possible to get auto financing while in an active Ch 13, but you must first get permission from your Trustee to incur the new debt.

[f86sabjf]

any hopes of getting money from a 401k to pay for a car? I wonder if a trustee would approve it? I have a decent 401k and could cash enough to pay for the car i want without accrueing any new debt. That would seem to be a good idea. Has anyone done this??

[aces67]

We took out a small 401K loan while in a Ch 13. Call your lawyer and ask him. I'm kind of surprised that your lawyer didn't recommend you buy a new car before doing the 13.