Hi, I'm new. We're in KS & planning to file Chapter 7 probably by year-end. We've not met with our attorney yet and I have a question. This may not be easily answered but thought I'd see if anyone has an idea.
DH is buying a motorcycle from a friend (he's been making payments on it for about 10 months, just hasn't put it in his name). We wouldn't consider keeping it around, but we both work about 20+ miles from our home and it sure does save on his gas. What will happen if we get a loan for it now (for it's value -- $10K?) Will we lose it? We have a 2007 car we are about $2000 upside down on, and his 98 Toyota 4Runner that we own outright. We thought maybe we should wait until after filing? Not sure. Thanks for any advice.
DH is buying a motorcycle from a friend (he's been making payments on it for about 10 months, just hasn't put it in his name). We wouldn't consider keeping it around, but we both work about 20+ miles from our home and it sure does save on his gas. What will happen if we get a loan for it now (for it's value -- $10K?) Will we lose it? We have a 2007 car we are about $2000 upside down on, and his 98 Toyota 4Runner that we own outright. We thought maybe we should wait until after filing? Not sure. Thanks for any advice.
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