Ch13-I kept car and want to get rid of it

[Houstonboi30]

My Ch13 was confirmed 12/6/07. My car note is protected in the bk filing but my payments are made directly to finance company. I would like to get a new car and give this one back (it is protected under my bk filing). How do I do this and how would it affect my Ch13 plan?

[HHM]

You have to get permission from your BK trustee to sell/trade your current car and purchase another one.

[isitreal]

Want a new car or need a new car?

Try reading this forum:

http://www.bkforum.com/showthread.php?t=19294

Seems like some sound advice to me.

[lrprn]

I would like to get a new car and give this one back (it is protected under my bk filing). How do I do this and how would it affect my Ch13 plan?

As HHM said, you need your trustee's permission to sell your car and buy another. Is your current car falling apart and that's why you need another car?

Your trustee may give permission to sell your current car, but he/she will typically expect the cost of the "new" car to be about what your payment is now. Can you pull that off? (Probably not because of the interest rates you are going to get from lenders - expect the mid to upper teens or higher for interest rates if a lender will even touch you before a year of on-time payments to your trustee).

You said "new" car....are you are thinking of getting a brand new car or are you thinking of geting a "new" car that's just new to you?