purchase of car while in CH 13

[woeisme]

Happy to report here that the trustee approved our petition to incur new debt to purchase a vehicle today! We found a local "buy here pay here" type place that would finance us while in the active 13, and had to submit the loan agreement paperwork first, just submitted it 3 days ago and already approved! We also submitted paperwork to modify our plan 16 days ago, trustee hasn't objected to it yet but judge needs to wait a little longer for creditors to be notified, but looks like that is also going to be approved according to our lawyer. So soon will be changing my signature to $400/month payments! (hubby had income loss that accounts for -$400 of current payment and other -$300 is for the approved car payment, so that's why it's going down so much total).

Anyway, lots of people ask on here about buying a car while in a CH 13, just wanted to report that it can be done. Yes, takes paperwork and time, but do-able. But I'd still HIGHLY recommend that anyone who is able to pre-plan a little before filing CH 13 really should get a new-ish car first to last them through their plan.

[Nicollette]

Yes it can be done. My attorney motioned the BK court for me to incur new debt to finance a newer vehicle. I financed one this past April. Any creditor wanting to object to this motion, including the Trustee, had 20 days to file an objection, and if any would have, then a hearing would have been scheduled for the objections which could have taken up to 45 days, but no one did. So yes, it is possible to obtain financing while in an active Ch 13.

[lrprn]

Great you were able to find financing during your Ch 13s, woeisme and Nicollette! Just curious....what were your loan terms?