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Could I buy a vespa scooter before file bk?

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    #1

    Could I buy a vespa scooter before file bk?

    I am scared too loose my car and how I am going to get around?

    What is my chances to get a scooter? my credit score is 655.


    Ps. My car situation:

    What is my option?

    a) Redemption?

    b) Reafirmation?

    c) none of the above

    If you think I cannot keep the car; when do you think that I should stop paying the car? But I would lilke to use the car for at least until the whole bk is over.

    I have a kia spectra 08 I bought it in april 08.

    I believe I have $16000 left to pay.

    I have never miss a payment($280.85 monthly.)

    I bought it at car pros kia tacoma dealership

    Financing with Qualstar Credit Union, WA

    6.4% fix.

    My income is $1000 I work part-time and I go to school full-time and I use my federal loans and my grants to help me with other bills.

    (I used to survive fine until the credit cards got out of control.)

    If I want to keep my car; Do you think they would let me keep my car when I got discharged.
    Last edited by seamoonil; 03-16-2010, 11:21 PM.
    Tags: None
    #2
    As others have said in other threads, with $1000 in income you need to start to learn how to live frugally until you graduate. Living off of your student loans will only cause you hardship years from now.

    Ultimately it is all up to you to make a final decision about what to do with your car.
    Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
    I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

    Comment

      #3
      Originally posted by newbie2 View Post
      As others have said in other threads, with $1000 in income you need to start to learn how to live frugally until you graduate. Living off of your student loans will only cause you hardship years from now.

      Ultimately it is all up to you to make a final decision about what to do with your car.
      I know I am starting to to accept the Idea of letting the car go...

      However, should I buy something to get around? like a cheap scooter:

      vespa or a honda ruckus _ http://www.walnecks.com/find/listing...uckus-93988476

      They would send me to the land of no pizza if buy this before file BK right?

      I wanna file in july....

      what do you think?

      Comment

        #4
        I am about to buy that tomorrow, "oh please shot me now" make me stop...

        Comment

          #5
          don't you think that could be a great option buy something like a honda ruckus $2000 and stop making the payment on my car. because if I keep making the payment on my car until july: march 27($288), april 27($288), may 27($288), June27 ($288), July 27($288).

          and the honda ruckus scooter: http://www.walnecks.com/find/listing...uckus-93988476

          If I buy with a credit card what are the consequences?

          and If I buy with my checking account cash what are the consequences?
          Last edited by seamoonil; 03-17-2010, 02:33 AM.

          Comment

            #6
            To the OP - your duplicate thread on this subject was removed. Please refrain from making duplicate postings in the same forum or in other forums as it confuses anyone who wants to reply. Thank you. The best advice for you is to consult with an attorney before you make any purchase of any kind prior to filing.
            _________________________________________
            Filed 5 Year Chapter 13: April 2002
            Early Buy-Out: April 2006
            Discharge: August 2006
            "A credit card is a snake in your pocket"

            Comment

              #7
              Originally posted by Flamingo View Post
              To the OP - your duplicate thread on this subject was removed. Please refrain from making duplicate postings in the same forum or in other forums as it confuses anyone who wants to reply. Thank you. The best advice for you is to consult with an attorney before you make any purchase of any kind prior to filing.
              sorry! I got excited!

              Comment

                #8
                It looks like you deleted the duplicate thread, so I'll answer you again here.

                If you purchase the scooter using a credit card knowing that you are going to be filing for bankruptcy within a couple of months, expect trouble.

                Pay cash for it as long as you can exempt the cash/ item. Check your states exemptions to be sure. ( You have to declare the cash anyway if you don't spend it)

                Owning a scooter free & clear post bankruptcy would probably be best for you since your income is so low.
                Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
                I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

                Comment

                  #9
                  do you think that I could pay half in cash and finance the rest or use my credit card?

                  I am in Seattle-Tacoma zip 98466 area WA

                  how do I check the exemption?

                  Comment

                    #10
                    Originally posted by Flamingo View Post
                    To the OP - your duplicate thread on this subject was removed. Please refrain from making duplicate postings in the same forum or in other forums as it confuses anyone who wants to reply. Thank you. The best advice for you is to consult with an attorney before you make any purchase of any kind prior to filing.
                    Hey flamingo can you come and hang out with us and help with advices?

                    Thank you!

                    Comment

                      #11
                      Originally posted by seamoonil View Post
                      do you think that I could pay half in cash and finance the rest or use my credit card?

                      I am in Seattle-Tacoma zip 98466 area WA

                      how do I check the exemption?
                      Why would you think that using a credit card to make a large purchase and then filing bankruptcy would be ok?

                      You really need to sit down and talk with an attorney before you do anything else. Obviously what we have been advising you now for close to a month hasn't sunk in. (About using your credit cards while you are planning bankruptcy)

                      Here is a link to Washington exemptions: http://www.bankruptcyinformation.com/WA_exemp.htm

                      It looks like a $2000 scooter will fit in to the motor vehicle exemptions.

                      Please, go see an attorney. You need someone who will tell you face to face what not to do.
                      Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
                      I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

                      Comment

                        #12
                        Originally posted by newbie2 View Post
                        Why would you think that using a credit card to make a large purchase and then filing bankruptcy would be ok?

                        You really need to sit down and talk with an attorney before you do anything else. Obviously what we have been advising you now for close to a month hasn't sunk in. (About using your credit cards while you are planning bankruptcy)

                        Here is a link to Washington exemptions: http://www.bankruptcyinformation.com/WA_exemp.htm

                        It looks like a $2000 scooter will fit in to the motor vehicle exemptions.

                        Please, go see an attorney. You need someone who will tell you face to face what not to do.
                        ok!

                        So if I pay with cash, and is exempt by my state; that is nothing to worry right?

                        Comment

                          #13
                          Go see an attorney. PLEASE. You do not need to make a decision today about buying a scooter. It looks like it will fit in the exemptions but I am NOT an attorney. Pick up the phone and call a couple of attorneys and make some appointments. Do this before you do anything else.
                          Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
                          I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

                          Comment

                            #14
                            Another option would be to wait until 910 days after your purchase date of your car (approx Oct. 2010) to file and then cram down the value. It's probably worth closer to $10k now. I'm not really sure how a cram-down works though, maybe someone else can chime in?

                            You only just stopped paying your bills THIS month, so you could probably get away with not filing until Oct/Nov. without any problems.

                            You do NOT need to be in any rush to do ANYTHING at this point. You have plenty of time to plan and research your options.
                            Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
                            0% payback to unsecured creditors, 56 payments down, 4 to go....

                            Comment

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