We have a 2005 Honda Civic Hybrid ($410 monthly) with 84k miles, and a 2000 Nissan Xterra with 155k miles (owe nothing). We are going to file Chapter 13 in 60-90 days, and are still current with all our creditors, but are filing due to a failed business. Should we try to get a newer car, or go with what we have? And is it too close to filing be a allowable purchase if we decided to trade in a car we owe nothing on for a car with a payment?
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DO IT, DO IT, DO IT!!! Your CH 13 is based on disposable income, and if you have a car payment, that will lower your disposable income, so less goes to creditors and some of your $ goes towards you driving a new car instead of a clunker! Don't get one too fancy or too new to raise flags, but a decent, newer, pre-owned vehicle instead of the 2000 Nissan would definitely be the way to go.Filed CH 13 September 17, 2007
Plan Modified July 8, 2009 from $1100/month to $400/month due to change in income, finally discharged in July of 2013! -
Get a new one. Wish we would have...Comment
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