Chapter 7 Motorcycle question

[caz67212]

Looking at filing chapter 7. I pass the means test but not by a large margin. I live a block from my work so walk everyday(haven't owned a car in 10 years).

I got around $5500 back in my tax refund this year. Wondering if it would hurt me to spend that as say a 75% down payment on a motorcycle prior to filing. I would reaffirm the loan.? Wondering if that's a way to hang on to the refund through an exemption I currently can't use?

Anyone here done this or something similar? Am I crazy?

[momofthree]

As long as you have the exemptions to cover it, you should be fine.

[dspii]

Like momofthree said, you need to be sure your exemptions can cover the equity that the 75% down creates.

[Chucksoutalu]

Talk to a, or your lawyer! Shouldnt be an issue if you can cover it. Although some may consider a MC a luxury item. If it is your main mode of transpo you shouldnt have a problem! Been ridin 35 years.....................it seems more dangerous now than ever! Be safe