ok here's another question i've got:
doing chapter 13 in about 5 months.
i have a new car bought in (8/10) payment is 310, looks like exemption can be up to 496 a month.
As is now, doing the means test calculator it's saying my DI is around 1500(this works out to around 90% payback).
I have another car that is paid for (2002) and worth probably around 4500. I'm worried this car will break down during the chapter 13. My credit is still good enough to get one of these 1.9 percent interest deals on a brand new car. I'd like to trade my car in and buy a new car. The payment on he new car would be around 375-400. I can exempt upto 2 car payments, so this should be exempt. However this will lower my DI to 1100 causing my unsecured creditors to get less paid back.
since this will lower the amount my unsecured creditors get (but still more than they would of in a chap7) will it be considered fraud?
doing chapter 13 in about 5 months.
i have a new car bought in (8/10) payment is 310, looks like exemption can be up to 496 a month.
As is now, doing the means test calculator it's saying my DI is around 1500(this works out to around 90% payback).
I have another car that is paid for (2002) and worth probably around 4500. I'm worried this car will break down during the chapter 13. My credit is still good enough to get one of these 1.9 percent interest deals on a brand new car. I'd like to trade my car in and buy a new car. The payment on he new car would be around 375-400. I can exempt upto 2 car payments, so this should be exempt. However this will lower my DI to 1100 causing my unsecured creditors to get less paid back.
since this will lower the amount my unsecured creditors get (but still more than they would of in a chap7) will it be considered fraud?
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