I am wondering what if any the consequences might be if I were to purchase a new vehicle before my Chapter 7 case is discharged. My 341 meeting is on 7/14/10. I have an older vehicle now. It has a bad transmission and now needs another repair and I am reluctant to keep pumping money into this car. I'd planned on waiting until after the discharge, but really need a reliable vehicle to get to work. Anyone have any experience with this?
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After posting this question, I read in another thread that "The implication being, any asset you earn AFTER the filing date is outside the BK estate and therefore not part of your bankruptcy and beyond the control of the BK Trustee. (there are some windfall exceptions, but they are few)." My filing date is 6/4/10, so it sounds like possibly purchasing a new car could be OK, but still like to know anyone else's experience.
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After posting this question, I read in another thread that "The implication being, any asset you earn AFTER the filing date is outside the BK estate and therefore not part of your bankruptcy and beyond the control of the BK Trustee. (there are some windfall exceptions, but they are few)." My filing date is 6/4/10, so it sounds like possibly purchasing a new car could be OK, but still like to know anyone else's experience.