Vehicle questions

[needanswers]

I have a couple of questions regarding vehicles during plan.

#1 If we used our Wildcard exemption on our vehicle's equity, can that be sold during plan? We don't plan to, I'm just wondering how that works. Because if you used your Wildcard exemption on cash, you can do whatever you want with it, can't you?

#2 We have a teenager that will be driving in the next year, is it ok to purchase her a used car to drive (with cash)? Do we need permission to do that even if we wouldn't be financing it?

[1curioususer]

Buying a new car before filing chap 13

I have a couple of similar questions:

I have a daugther that will be driving next year and was wondering if I could buy a $2000 car (cash purchase) while in a chap 13. Does anyone know how this is viewed?

I also have a 2002 Ford Explorer and am thinking about trading it in to buy a 2007 Nissan Altima that is more reliable and gas friendly. I'm under a time crunch becasue it wont be long before I will not be credit worthy and would like to file within the next 60 days. Is this recommended or will I have to give the car back because I'll be in the "prefrence" period?

Thanks

[momofthree]

#1, check your confirmation order. You'll most likely have to get trustee permission to sell it if you're going to sell it for over $xxxx amount. Our amount was anything over $1000 we had to get trustee permission. It took approx 2 months to get trustee permission to sell our truck, but it was given. We had to provide the sales price & what we planned to use the money for. It also had a whole bunch of other info about how it was an "arms length transactions" that we wouldn't release the title until it was fully paid for, yada yada yada. Our attorney prepared the motion and we just had to sign it.

#2. Our confirmation order only states that we have to get trustee permission to sell anything over $1000 or take on any debt over $500. If you're paying cash, then all should be fine, but check your confirmation order or check with your attorney as it may vary by district.

[dales0513]

Hello-
I am new to the forum I have a few questions. We have about 29,500 in unsecured for CC. We are meeting with lawyer on Friday. He also said it maybe possible that the 56,000 on our second mortgage can be converted to Unsecured because our house is underwater. Has anyone had this happen or heard of this? I also have a property that we have a s a family we only have 1/6th of it and it isn't worth anything because there is a mortgage on it so I wasn't sure what would have to be done with this?