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    #1

    Needing a car

    I was wondering if anyone might have advice for me on whether I should buy a different car now or wait until after I have filed ch 7 and it is discharged. My car is 12 years old, has 195,000 miles and the transmission is now sticking. I really dont want to put a lot of money into it. I plan on filing my bk within 2 months. I really hate to look at buying another car now, but I absolutely HAVE to be able to get to work. I am a single mother with no other source of income but my employment. I was thinking of looking into a reasonable used car, but there is no way I could pay cash for it. I would have to make payments. What are the rules on purchasing a necessity like a car prior to filing bk?
    Thankyou for any advice you can give me. I am desperate!!
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    #2
    I can't really advise you on your specific situation, but I'll tell you what we did.

    When we filed for BK, we decided to surrender our only vehicle. It was only 8 years old, but we owed more than it was worth and spent over $2000 on repairs in the year before filing. Because it was our only car, our attorney told us we were welcome to purchase another vehicle if we could find someone to finance it.

    We went to a dealership and were very upfront about the BK. The next day we drove home in a used 06 car that is still under warranty. This was before our 341 hearing, by the way. For us, it made more sense to buy ahead of time - even though the dealer knew we were filing, it wasn't on our credit report yet, so we got decent interest. I didn't want to be waiting for discharge and have the car break down, because we wouldn't have been able to get financing.

    We're able to afford the higher car payment now that we don't have all the CC debt. It is a HUGE relief to have a reliable vehicle to drive! We didn't really want to incur more debt just as we were getting rid of debt, but a car is a necessity for most people.
    Filed Chapter 7: 9/29/06
    341 Meeting: 11/01/06
    Last Day for Objections: 1/01/07
    Discharged and closed: 1/03/07

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      #3
      Thankyou Brain. I know the feeling of NOT having a reliable car!! I think I will check into getting something. this is definitely a necessity..if no car..then, I can't get to work which will mean NO income. It is really very stressful worrying everyday if I will make it to work (and I drive in at 3 am so if I breakdown, who can I call?? lol)
      Have a very Happy, Safe New Year!!!!

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