How soon can I relace my car?

[hurtininaz]

I have to surrender both my vehicles due to high payments. I purchased a used truck for my husband to drive a couple of months ago that is just under the exemption limit.

When can I purchase a car for myself? My parents are willing to help me out but I can't purchase another (affordable) used car until when??? After the 341, after discharge? I am not sure how to get around if the CU lifts the stay and repos both trucks.

[tinfoilhat]

If your parents are willing to help out buy a used car and just have it put in their name, for insurance have it put in their name and you as a driver.
When you're in the clear just transfer the title to your name.

Thats the easiest, no questions asked way to do it IMO. Plus there's no way it'll effect your BK status.

[OhioFiler]

If your parents are willing to help out buy a used car and just have it put in their name, for insurance have it put in their name and you as a driver.
When you're in the clear just transfer the title to your name.

Thats the easiest, no questions asked way to do it IMO. Plus there's no way it'll effect your BK status.

I certainly would not take this course before filing.

[keepmine]

I certainly would not take this course before filing.

I see nothing wrong with the idea. It's not illegal to receive a gift post bk.

[tinfoilhat]

I certainly would not take this course before filing.

What the hell are you talking about.

The person filing wants a car and their parents are willing to help.

My advice says have the parents buy the car IT WILL BE THE PARENTS CAR!!!!!

It will be no different than if the parents already HAD the car and let the OP drive it for a little while.

[tinfoilhat]

I certainly would not take this course before filing.

Have you been cowering in the corner your whole life?

You just say don't do it--no explaination why, no way to do it? No suggestions?

Are you so scared you think someones going to find out about what you said?

Why don't you explain yourself and gain some much needed credibility in this thread.

[OhioFiler]

Okay.

How are your anger management classes coming along Sparky?

[tinfoilhat]

Okay.

How are your anger management classes coming along Sparky?

Do you have anything to contribute to this post or are you just after me?

Write an example of why this won't work and one of what you'd suggest. Thats how the forum works.

[OhioFiler]

Do you have anything to contribute to this post or are you just after me?

Write an example of why this won't work and one of what you'd suggest. Thats how the forum works.

Don't lecture me on how the forum works Sparky. Anyone who reads the thread can see who acted inappropriate with their posts.

I find angry internet warriors like yourself amusing. No I'm not "after you". You don't exist in my world.

Adios!

[tinfoilhat]

You don't exist in my world.

....and thats why you already created a nickname for me, only came in this thread to post an uninformative comment based only off my suggestion? Sounds like you're a fan. I'm flattered

[doingpoorly]

I certainly would not take this course before filing.

I would actually like to know what you meant by this and please don't think that I am trying to put myself in the middle of something else that is going on.

Do you mean that the plan would be good so long as the op doesn't actually transfer the car to his/her name before filing or are you saying not to attempt the plan of having parents buy /insure with op as driver and then transfer to op name after bk at all? If you meant the latter, I am interested to hear why this would be a bad idea.

[LuciluS]

I would actually like to know what you meant by this and please don't think that I am trying to put myself in the middle of something else that is going on.

Do you mean that the plan would be good so long as the op doesn't actually transfer the car to his/her name before filing or are you saying not to attempt the plan of having parents buy /insure with op as driver and then transfer to op name after bk at all? If you meant the latter, I am interested to hear why this would be a bad idea.

I can give you my opinion. OP plans to file BK in August. OP is in the 'Critical 90 day period - Scrutiny! OP will have to list Vehicle as an Asset & possibly as a partial Gift, if parents are involved. Here again, there is no Specific Section in the Bankruptcy Code of 2005. Each District/State have their own 'back room' Bankruptcy policy.

When relatives are involved in a Bankruptcy Case, Any Trustee Eyes are going to Bug Out. They see $ signs.

Our BK Attorney packets requests copies of all vehicle titles or loans. We have to include the Vehicle Insurance Blanket Coverage on each vehicle. As we are keeping on home, Homeowner's Insurance Policy is required.

When people who are in the planning stages of BK, they need to realize Trustees are overworked & only get paid hmmm seems like it is $30 or is it $60? whatever! to close a Chapter 7. Where a Trustee makes his money is finding Assets, frauds, etc. They are trained specifically on such. They know how to tell when a Debtor is hiding Anything!

To OP! If able to purchase vehicle without assistance before filing in August....that's fine; as long as, you are able to exempt the Asset value as you don't want to get a loan on an Asset & pay the Trustee too.

If I were in your shoes and parent's are willing to help, hold off until at least Discharge. Also, before any decision is made, please call your Attorney for advice.

We are filing on 9/30/09. I'm on pins and needles as to every $ move I or my Dh makes. The easier the case, the easier chances of the simple questions being asked before, during and after 341. Then wait on time to fly by for Creditors to object. Hopefully to receive discharge in or about 95 days. Closing? Lord only knows when that will happen

Luci

[bkmaggster]

Our BK Attorney packets requests copies of all vehicle titles or loans. We have to include the Vehicle Insurance Blanket Coverage on each vehicle. As we are keeping on home, Homeowner's Insurance Policy is required.

That is a requirement of your specific attorney. There is no such requirement from the trustee. The trustee can easily search it out anyway.

I'm not sure I understand how this could be seen as fraud if the parents own the car and insure the car. The debtor has no legal right to the asset. I have no horse in this race, just curious.

[tinfoilhat]

So if my parents buy a car and I file BK the next day the trustee is going to take my parents car?

Anyone get the point?

[teacher]

So if my parents buy a car and I file BK the next day the trustee is going to take my parents car?

Anyone get the point?

I don't think they can, as long as there isn't a clear paper trail that you bought it through them.....like say you had $2,000 in your bank, and then it was gone......then they bought a car for $2,000 a day later?

I know, it is highly doubtful, I wouldn't see it as being an issue at all.