purchasing a car BEFORE filing and still no attorney..

[seekininfo]

we own our vehicles as follows

ALL in my husbands name
2000 Durango- private value- $4115

99 nissan quest- $3370 (just purchased this a few months ago for $2500)

96 olds cutlass supreme- wrecked & tranny slipping- but my 18 yr old drives it- fair is $1,290, no $$ value for poor

97 jeep cherokee- parked, transmission out & other problems- fair is $3,000 no value for poor condition.

ohio exemptuion for ONE- $3225
wild card- $1075

so, we are OVER the exemption, so they MIGHT take a vehicle. We NEED them. 15,16 & 18 yr olds, and mom and dad.


My husbands credit is still good, havent missed the CC payment yet.
is it a good idea to purchase a car NOW? the thought of doing that SCARES me though.

we can buy a car over the weekend and file next week? thats not a problem?

if so, we want to go as cheap as possible on the loan, dont really want debt again, is there a good amount?

or should I scrap the whole idea and wait?

Im still having no luck finding an attorney in our area..

[seekininfo]

no response, so I assume we SHOULDNT look for a car?
I'm just so afraid they will take one and we wont be able to get a loan later.

[newbie2]

no response, so I assume we SHOULDNT look for a car?
I'm just so afraid they will take one and we wont be able to get a loan later.

Lots of people have written about purchasing a car before filing. That doesn't seem out of the norm at all.

From what you've described you have older vehicles, 2 of them needing major work. I doubt the trustee would see purchasing a reliable auto as anything but a necessity for you. Have you talked to an attorney yet? They would be best to advise you as to what is normal in your district.

[seekininfo]

still searchin for an attorney. Can you ask the attorney that type question? I want to do whats right, but would like to have a reliable vehicle also.

[newbie2]

still searchin for an attorney. Can you ask the attorney that type question? I want to do whats right, but would like to have a reliable vehicle also.

Since many people have written here about purchasing a car before filing perhaps you could do a search for "car purchase before filing" and see what others have done and how it's been viewed by their trustees and/or attorneys.

Good luck on finding an attorney. I hope all works out well for you.

[seekininfo]

thanks thats what ive been doing the past couple hours

[seekininfo]

hubbys scores must be tanked due to DTI.

applied for capital one blank check up to $12,000 and the rate is 11.9% for 60 months. YIKES

[momofthree]

I don't know that filing a week after buying the car is a good idea. However, since you haven't even found an attorney yet, I don't think you'll be filing for a while anyway.

I *believe* it's normally recommended that you make at least 1 payment on a new vehicle to show good faith before filing....

[seekininfo]

since the rate isnt that great, I think we'll just wait and chance that we get to keep our old vehicles.
I dont want a payment, but if they happen to take a vehicle, we'll just have to get another cheapy at an outrageous rate I guess.

[liz417]

I was "advised" to purchase a car before I filed for BK. I had 10 year old car with over 240k on it and I needed the deduction for my expenses (over the median). I was told to make at least a couple of payments on the vehicle before I filed. No problems and no questions asked, although I got a crappy interest rate of 6.5% and paid a premium price for the (2007, used) car, I never reaffirmed the vehicle either.

[seekininfo]

since I have a summons from amex, I cant wait a couple months to file.

we are way below median so no worries there.
family of 5, $39,000yr. in Ohio