I am trying to save as much cash as possible for future needs. One is to move in 15 months when lease is up and hopefully the economy & job market is back to 2004 levels (I moved to the Boston area and TOTALLY hate it). I have about $7,000 saved in checking account and trying to save about $1,500 a month.
My car also may need to be replaced. My current car is 9 years old with 103,000 miles. The cost of future repairs will likely be prohibitive to the point where it is more cost effect to buy a used car for $15,000 putting down about $8,000 financing $7,000.
Roadloans will finance me up to $16,000 a wonderful 'low' rate of 20% for 66 months. They assured me that there is no prepayment penalty and you can pay additional each month to decrease or recast the outstanding principle
My question is whether either of these two things will be disallowed when filing?? As I understand chapter 13 which I will likely be forced into allows you to keep non exempt assets and reaffirm secured debt.
My car also may need to be replaced. My current car is 9 years old with 103,000 miles. The cost of future repairs will likely be prohibitive to the point where it is more cost effect to buy a used car for $15,000 putting down about $8,000 financing $7,000.
Roadloans will finance me up to $16,000 a wonderful 'low' rate of 20% for 66 months. They assured me that there is no prepayment penalty and you can pay additional each month to decrease or recast the outstanding principle
My question is whether either of these two things will be disallowed when filing?? As I understand chapter 13 which I will likely be forced into allows you to keep non exempt assets and reaffirm secured debt.