OK I did a search and I want advice on what you think I should do. We are selling our Fiero for 1,000 tomorrow. We called the lawyer and I think it is a paralegal or assistant said that we can take that and put it towards a down payment. Maybe I am understanding wrong. Is it ok to put that as a down payment and finance another vehicle? We are thinking something around 7,000 or to just put it towards another vehicle and add cash to it, but just make sure that we are within the exemption amount???? We are filing in Feb and I don't want to raise any red flags with the Trustee.
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It seems like I am always confused, car question.
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Yes, you can do this. Just make sure that it fits within your "exemption" for your car. Trustees see this all the time. You do need a reliable vehicle, and I'm unsure if a Fiero is going to make it much further.Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
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Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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