another buying car thread but for cash

[TBLTZ]

Ok There is a car i want to buy and its 2500. I will pay cash and my state exemptions is 3500. Is it bad if i buy a few days before I file or should I wait till after I file?

Thanks

[AngelinaCatHub]

If this is truly a NEED and not a toy, you will be fine. Do you have other means of transportation, as 2500 for a car is not unreasonable. I believe you will be alright. That is, if all you told is so. 'Hub

[Never_Again]

I purchases a vehicle for $4400 three days before filing. Our state has a $10K exemption for a married couple filing jointly. I sold a couple of other assets that might not be exempt, and purchased one that would.

You might want to seek legal counsel on this, but my lawyer told me that pre-bankruptcy planning was completely legal, and a good idea. You had the right to arrange your affairs in the most advantageous way possible before filing. If I hadn't bought an exempt vehicle with this money, I would have put it in a Roth IRA, which would have also been exempt.

If you are covered by the exemptions, you are fine.