We are 18 months into a 60 month chapter 13. Our lease ended in March and despite my best efforts I could not find a company to approve our lease buy-out, so we turned it in. I am now driving my husband's 2004 pick-up truck. We spoke ot our atty last week and decided to convert to chapter 7, which I am thrilled about! We will be doing this later this month.
My question is whether or not to purchase another car. We have three kids--6, 4, and 2. The pick-up truck is an extended cab, so they do fit back there in their car seats, but it is not ideal. I'm not trying to be a brat...I am fully aware of our financial situation and the sacrifices we need to make to repair it. The truck has suicide doors which make it very difficult to get the kids in and out, particulary in parking lots. We can certainly live with that. The truck has a cracked windshield. It has an exhaust problem. It also has no heat or air conditioning (it's supposed to have it, but it is not working). My lawyer said we should try to wait until after discharge, which she estimates at about 6 months.
If we purchase a car now, it will have to be through Roadloans at 20% interest. If we do, will the trustee frown upon this? Will we have to surrender the vehicle? (With a roadloans deal it is highly unlikely that we will have any equity).
Thanks for the input!
My question is whether or not to purchase another car. We have three kids--6, 4, and 2. The pick-up truck is an extended cab, so they do fit back there in their car seats, but it is not ideal. I'm not trying to be a brat...I am fully aware of our financial situation and the sacrifices we need to make to repair it. The truck has suicide doors which make it very difficult to get the kids in and out, particulary in parking lots. We can certainly live with that. The truck has a cracked windshield. It has an exhaust problem. It also has no heat or air conditioning (it's supposed to have it, but it is not working). My lawyer said we should try to wait until after discharge, which she estimates at about 6 months.
If we purchase a car now, it will have to be through Roadloans at 20% interest. If we do, will the trustee frown upon this? Will we have to surrender the vehicle? (With a roadloans deal it is highly unlikely that we will have any equity).
Thanks for the input!