We re letting our truck go in our BK, and I will have to buy some kind of a beater to get back and forth to work. MOre then likely, I will have to borrow the money from my Mom to buy the beater. How will that work with my BK? Will I have to wait until after we are discharged to get something else? (We will prpbably be filing in January)
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Are you close to the median income? If so, there may be some advantage to buying the car before you file, giving your Mom a promissory note and a lien on the vehicle title. Also, look into the possibility of keeping the truck and doing a cram-down if the finance contract is more than 910 days old. Are you represented or pro se?Originally posted by thomas12t View PostPay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer. -
We are all new to this, so forgive me if I sound like I dont have a clue what you are talking about.Originally posted by MSbklawyer View Post
What is the median income?? And yes, we have talked to Lawyer.
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Median means 'middle'. Median income for your state is the figure that half the income earners are above and half are below. If your income (less certain deductions) is above the median, you have to file chapter 13.Originally posted by thomas12t View PostWe are all new to this, so forgive me if I sound like I dont have a clue what you are talking about. What is the median income?? And yes, we have talked to Lawyer.Pay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer.Comment
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