question???????

[okra77]

Ok guys here goes my 341 meeting is 10/1 we are a family of 4 and have one vehicle. Can i buy a vehicle from one of those in house financing places before discharge?
couls i buy a vehicle with cash?

[keepmine]

None of us can speak for a potential lender. All you can do is inquire.
If you buy one for cash, be sure that the equity does not exceed what your state allows as an exemption.
Whatever you do, be sure your lawyer is informed. You'll likely need to amend some of your schedules.

[TXskyblue]

The general advice is to wait until discharge, which would be around Thanksgiving.

Keepmine, since he has a 341 date, he already has filed. Buying a vehicle now wouldn't require amending the petition because the event would occur post-petition. What am I missing?

OP, I'd really wait until at least after the 341 and even though, talk to your lawyer to make sure you're not causing any problems.

[okra77]

Ok talked with lawyer office they said my discharge would be between 3 and 6 months. I wonder why so long. And to wait till after discharge to buy.

[AngelinaCat]

If you are a no-Asset CH7, the discharge usually occurs on or sometime after day 61. If you are an Asset CH7, the length of time for creditors to object to the discharge of their particular debt, could be enlarged (lengthened) depending on the particulars of your case.

[okra77]

Ours is no asset. So u think 60 days.

[LadyInTheRed]

Your attorney knows the procedures in your court. If he says 3 to 6 months, count on it taking 3 to 6 months.

[pinkpeanut01]

Side note, and just my opinion based in nothing but my own experience, but I think you should stay away from the in-house financing. I know a woman who has no self-esteem, terrible credit, is too embarrassed to apply anywhere else, and she was driving a total beater for $200 every two weeks from one of those places. Right out of BK, we totaled a car. We got approved by Ally for a nice replacement. We surrendered another car in BK. Got approved by Toyota Financial for a lease on a brand new car with a payment identical to the surrendered vehicle that was 8 years old. Whenever you decide to pursue a new vehicle, go to the in-house financing as as last resort, I beg you. Don't be afraid of rejection.

[okra77]

ok so my 341 meeting is 10/1 when do you think i should try and get financing.

[LadyInTheRed]

ok so my 341 meeting is 10/1 when do you think i should try and get financing.

You'll probably have better chances of approval and get better terms if you wait until after discharge.