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    #31
    Originally posted by Jf24 View Post
    It will be in just her name. She has much better credit than me. Credit aside, if possible to be in both our names is that an advantage or disadvantage?
    Having your poor credit involved in the loan application may make it impossible to get a loan or make the terms much worse.

    I thought even though I file on my own we use total house hold income and expence when figuring DMI.
    Being married and filing alone can be tricky. At least New York is not a community property state - that makes filing alone in your state when you are married much easier.

    When you file Ch 13 alone without your legal spouse, both of your incomes, assets, and expenses are added into the first part of the Means Test. Then in a later section, any of your wife's income that is not used to support the househild, her assets, and expenses that are hers alone are deducted back out. That's why a car that she alone buys won't help you reduce your disposable income when you file.

    Momofthree is right. You really need to discuss this car purchase with your lawyer before doing anything.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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      #32
      Originally posted by lrprn View Post
      Having your poor credit involved in the loan application may make it impossible to get a loan or make the terms much worse.

      Being married and filing alone can be tricky. At least New York is not a community property state - that makes filing alone in your state when you are married much easier.

      When you file Ch 13 alone without your legal spouse, both of your incomes, assets, and expenses are added into the first part of the Means Test. Then in a later section, any of your wife's income that is not used to support the househild, her assets, and expenses that are hers alone are deducted back out. That's why a car that she alone buys won't help you reduce your disposable income when you file.

      Momofthree is right. You really need to discuss this car purchase with your lawyer before doing anything.
      I definitely will see an attorney before we do anything. It's just that there is no way we can commit 5 years with an 11 year old car with 145000 miles that I can't get inspected because I can't afford the brake job it needs.

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