Buying a car will delay filing for 90 days?

[jeff6898]

Well I was using my moms car but she now needs it back so my family and I have no transportation. I was going to go to a buy here pay here lot and get a cheap car. Found one for $2,995 that believe it or not is in pretty good shape.
Lawyer says if I buy and finance a car I will not be allowed to file for 90 days since you can not purchase luxery goods with in 90 days of filing. Any truth to this? To me that doesn't sound right. I thought everyone was allowed to have a vehicle.

[newbie2]

Find another attorney. The "90 days" applies to unsecured debt. You are getting an auto loan, which is secured. The only thing you want to make sure of is that the auto is titled in your name & lien recorded prior to filing.

[moe]

I read in another thread someone said not to do that because it looks bad--like you are trying to beat the system. But perhaps that is not true. I do remember the one thing an attorney told me to do was to get a car! Because you will go a long time where that will be hard and our car had 100,000+ miles on it.

[IHateChase]

Buying a needed car is in no way trying to beat the system. It's just good planning. Moe, I think the post you refer to was truly a luxury car, with a $600 monthly payment.

Jeff- if your atty said a 3K car is a "luxury" .... hmmm.... got me there..... Is it possible he was concerned about your exemptions? I think you only get 1k auto in Fl and need to be sure you can cover it with any leftover exemptions.

[jeff6898]

Not sure we have $10,000 in exemtions we can use. In Florida we get $2,000 plus an extra $8,000 since we don't claim home owners exemptions. I will have to call him and get him to tell explain this to me.

[newbie2]

Not sure we have $10,000 in exemtions we can use. In Florida we get $2,000 plus an extra $8,000 since we don't claim home owners exemptions. I will have to call him and get him to tell explain this to me.

If you are purchasing the car and putting nothing down, it is doubtful there would be any equity to exempt. Most certainly call your attorney and ask for clarification of that car=luxury purchase. It is probably a misunderstanding.

[moe]

Sorry this is OT but are there any good threads on here about how to buy a car? I've never had a car payment or bought a car on credit. But I'd want to buy a budget car that is super reliable obviously if declaring Chapter 7--and used--but somehow buy on installments. I don't even know if that's possible.

[justbroke]

In Florida, you also have the motor vehicle exemption of $1,000 (doubled if married to $2,000). So, you could use the $2K plus the unused homestead exemption, plus the constitutional wildcard exemption and have $12K to exempt a car, if you're married and filing together.

The key to any secured debt purchase is that the seller MUST make sure that the paperwork (title) is done properly and in accordance with law. That means, filing the title lien immediately (or within 2 weeks or whatever the law reads).

[newbie2]

Sorry this is OT but are there any good threads on here about how to buy a car? I've never had a car payment or bought a car on credit. But I'd want to buy a budget car that is super reliable obviously if declaring Chapter 7--and used--but somehow buy on installments. I don't even know if that's possible.

Moe, starting your own thread is helpful when asking a new question. Here is the sub forum on car purchasing post bankruptcy: http://www.bkforum.com/forumdisplay....a-car-after-BK