Hi all,
Been lurking here for a bit...fantastic resource!
Anyhow, looks like my 7 needs to be converted to a 13, apparently going to be a fairly small payment from what I understand.
I have been advised to get rid of my car, which still has a lien on it, with a bit of equity as well. I understand I many lose the equity, and I'm fine with that. Anyhow, I was advised to just drive the car, and not to pay, and eventully the bank will seek a "lift stay" in order to get the auto back. This is my second attorney. Does anyone know if my credit gets more blemish as a result of not paying? Until now, I've been current.
I know some of you are scratching your heads and wondering why on earth I'd dump the car at this point? Well...it's a sports car, and apparently the trustee won't like it...it's over $800 a month. SOOOOO...with that, I need to get into something more "reasonable"
I'm considering a Jeep or a reasonable sedan like a Honda or Toyota...BUT, I'm not sure If I can get any financing whatsoever. I've searched the internet, and it's not easy to figure this out.
I know I may need authorization from the trustee for the 13, but I don't think that will be an issue.
Also, I have my own business. If I purchase a car for cash through my business and register the car in the business name, is that kosher? I don't want to do anything that could inappropriate, but I would think that it would become a business asset, not a personal one?
Has anyone had any success in obtaining reasonable financing while in a 13? If so, I'd love to know who you used.
Oh..and if for some reason I can get financing, can I trade my car in to use any equity toward a down payment, is that ok?
Wow...that's a lot of questions for my first post. Thanks in advance for any feedback and input.
Best,
feeling like a bozo
p.s....this is my second attorney, Ifiled using the first, but wasn't advised to unload the auto bling early on....oops.
Been lurking here for a bit...fantastic resource!
Anyhow, looks like my 7 needs to be converted to a 13, apparently going to be a fairly small payment from what I understand.
I have been advised to get rid of my car, which still has a lien on it, with a bit of equity as well. I understand I many lose the equity, and I'm fine with that. Anyhow, I was advised to just drive the car, and not to pay, and eventully the bank will seek a "lift stay" in order to get the auto back. This is my second attorney. Does anyone know if my credit gets more blemish as a result of not paying? Until now, I've been current.
I know some of you are scratching your heads and wondering why on earth I'd dump the car at this point? Well...it's a sports car, and apparently the trustee won't like it...it's over $800 a month. SOOOOO...with that, I need to get into something more "reasonable"
I'm considering a Jeep or a reasonable sedan like a Honda or Toyota...BUT, I'm not sure If I can get any financing whatsoever. I've searched the internet, and it's not easy to figure this out.
I know I may need authorization from the trustee for the 13, but I don't think that will be an issue.
Also, I have my own business. If I purchase a car for cash through my business and register the car in the business name, is that kosher? I don't want to do anything that could inappropriate, but I would think that it would become a business asset, not a personal one?
Has anyone had any success in obtaining reasonable financing while in a 13? If so, I'd love to know who you used.
Oh..and if for some reason I can get financing, can I trade my car in to use any equity toward a down payment, is that ok?
Wow...that's a lot of questions for my first post. Thanks in advance for any feedback and input.
Best,
feeling like a bozo
p.s....this is my second attorney, Ifiled using the first, but wasn't advised to unload the auto bling early on....oops.