I am planning to file a Chapter 7 within the next 2 weeks. I presently drive a Mercedes truck and owe about $23,000. The blue book value is $23,700. I want to purchase a new car before filing because my warranty is over on my car. Can I purchase a new Lexus for about $35,000 with no downpayment right before I file without the trustee raising its eyebrows.
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Retained Lawyer 10/3/08
Filed Chapter 7 11/25/08
Equifax 536 on 11/25/08, Equifax 571 on 03/11/09
Discharged 03/11/09 -
It might look bad that you are able to buy another luxury vehicle at a time when you are needing to file bankruptcy. Maybe consider buying a less expensive car to be safe. Buying a reliable car is not necessarily going to be questioned. But buying a luxury vehicle might raise some red flags. That's just my opinion though, maybe an expert will chime in.Filed Ch. 7 (no asset): 12/30/2008
341 Meeting: 01/26/2009
Last Date for Objections: 03/27/2009
Discharged & Closed: 03/30/2009 -
You need TEW to give you some advice!Comment
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