Buying used car for cash while in C13... [Archive]

GoingUnderInNV

01-23-2007, 07:47 PM

Anyone have any experience with this, or thoughts on the matter? I'm trying to save some money to buy a backup vehicle (a motorcycle) because the Jeep is showing it's age (just got it out of the shop after a $700 repair bill). Saving up some money is possible right now because of side jobs, but my main question is this: if I buy this vehicle (whatever it turns out to be) with cash, am I going to get into hot water with my Trustee? I'm still doing my payments (and will be for years to come), but my Jeep certainly won't hold out another 5 years.

Thoughts?
GUiNV

HHM

01-23-2007, 09:03 PM

It should not be a problem, the car purchase is an after BK assets.

However, we had one person on here report they got in trouble (and have a motion to dismiss) because when they turned over their tax return, they made more money than the represented on their chapter 13 plan. But that seems to be an oddity.

For the most part, once the chapter 13 plan is set and confirmed, that is it.



	Bankruptcy Forum > After the Discharge > Buying a car after BK > Buying used car for cash while in C13... PDA Buying used car for cash while in C13... GoingUnderInNV 01-23-2007, 07:47 PM Anyone have any experience with this, or thoughts on the matter? I'm trying to save some money to buy a backup vehicle (a motorcycle) because the Jeep is showing it's age (just got it out of the shop after a $700 repair bill). Saving up some money is possible right now because of side jobs, but my main question is this: if I buy this vehicle (whatever it turns out to be) with cash, am I going to get into hot water with my Trustee? I'm still doing my payments (and will be for years to come), but my Jeep certainly won't hold out another 5 years. Thoughts? GUiNV HHM 01-23-2007, 09:03 PM It should not be a problem, the car purchase is an after BK assets. However, we had one person on here report they got in trouble (and have a motion to dismiss) because when they turned over their tax return, they made more money than the represented on their chapter 13 plan. But that seems to be an oddity. For the most part, once the chapter 13 plan is set and confirmed, that is it.