2 yrs in chapter13 with expensive car repairs due. Today traded vehicle in for new 2012 chevrolet cruz. Have to take purchase order to lawyer and have it sent to court to have it approved. Hope it all goes well. Would like to have reliable car to get through rest of chapter 13.
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When the transmission went out in our 2004 Malibu, we started car shopping. The dealers with the "Bad credit-no problem....Bankruptcy-no problem" were actually decent people. The last one we talked to had the papers drawn up with 11% interest on a 2009 Impala. All we had to do was get trustee approval and it was a done deal. Didn't think that was too bad considering the interest on the original loan of our used car was 9% with a 725 credit score 7 years ago.
We ended up putting a new trans in the Malibu for $1,500. we will get a new to us car after discharge in 2 more years.Filed July 2009. Discharged 08/08/2014. Awaiting closing. We made it !!!!
Woo-hoo! -
I thought you had to get trustee approval BEFORE purchasing a new car -- am I mistaken??Comment
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"Have to take purchase order to lawyer and have it sent to court to have it approved."Originally posted by 159515951 View Post
I think that is what teh OP is intending on doing.Filed: 10/29/2011 Chapter 7
341: Scheduled for December 19, 2011Comment
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That is correct. Our lawyer said to go and get your best deal and bring back the paperwork to be approved/rejected by the trustee. Needless to say you are going to buy something within your affordable price range.Filed July 2009. Discharged 08/08/2014. Awaiting closing. We made it !!!! Woo-hoo!Comment
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I do not like the 18 percent interest rate though.Comment
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