purchase of a used vehicle

money problems · 05-15-2006, 08:49 PM

Can my husband and I sell my old car and buy a different car for very close to the same price without having any problems or having to call my atty. that charges me for every question? Thanks, by the way we are located in Texas where I hear the laws are very different.

FilingOnMyOwn · 05-15-2006, 11:50 PM

In order for anyone to answer the question, you need to tell the rest of the story.

**Minnymouth** · 05-16-2006, 10:55 AM

Rest of the story meaning:

1. Are you in the process of Chapter 7 or Chapter 13 at the present time?

2. Have you had your 341 meeting?

3. Have you been discharged?

4. Are you in a payment plan?

Believe me, Texas is not much different when it comes to BK.....

money problems · 05-18-2006, 06:30 AM

Thank you for trying to help me out Minnymouth. The rest of the story is pretty basic. I am in a 13 for a three year term and it started in march 04. I have had my 341 meeting. We have pretty crap cars and I would like something more reliable. We have an automotive repair shop and we can get a car fairly cheap and put a litttle money into it and make it a good vehicle.The same amount of money (all together) as I can sell my Mitsubishi for. It seems to me it is not changing any money status. If you need more info just let me know. Thanks again, Michelle

SinkingFast · 05-18-2006, 09:14 AM

I would think, and others will correct me if I'm wrong here,........

But I think you'll still have to contact the Trustee regardless. Even tho you are not taking on new debt, you are selling an asset that's essentially part of the BK Estate.

The minute you filed BK, everything you own became part of the BK Estate. If you sell/trade an asset of the BK Estate, I'd think the Trustee would have to be notified.

Probably won't be a problem. You're looking at an even trade off.

And your attny shouldn't be charging you extra for this. Attnys charge more for Ch 13 plans because they have to be part and party to the plan for the duration of the payments. If you have a medical emergency that requires ammending the plan, the attny is supposed to handle that at no extra cost. It's a part of the deal.

**Minnymouth** · 05-18-2006, 10:07 AM

SinkingFast is correct,
All transactions must go thru the Trustee..... for his approval. Unfortunately that is the way it is in a Chapter 13.....
I don't see a problem with it and he probably won't either......

Minny

05-15-2006, 08:49 PM	#1
money problems Registered User Join Date: May 2006 Posts: 2	purchase of a used vehicle Can my husband and I sell my old car and buy a different car for very close to the same price without having any problems or having to call my atty. that charges me for every question? Thanks, by the way we are located in Texas where I hear the laws are very different.

05-16-2006, 10:55 AM	#3
Minnymouth Super Moderator B/F Guru Join Date: Sep 2004 Location: Around the Corner Posts: 5,520 Blog Entries: 1	Rest of the story meaning: 1. Are you in the process of Chapter 7 or Chapter 13 at the present time? 2. Have you had your 341 meeting? 3. Have you been discharged? 4. Are you in a payment plan? Believe me, Texas is not much different when it comes to BK.....
	Minny "It's amazing the paths that our feet sometimes follow in life". My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

05-18-2006, 06:30 AM	#4
money problems Registered User Join Date: May 2006 Posts: 2	buying a used car Thank you for trying to help me out Minnymouth. The rest of the story is pretty basic. I am in a 13 for a three year term and it started in march 04. I have had my 341 meeting. We have pretty crap cars and I would like something more reliable. We have an automotive repair shop and we can get a car fairly cheap and put a litttle money into it and make it a good vehicle.The same amount of money (all together) as I can sell my Mitsubishi for. It seems to me it is not changing any money status. If you need more info just let me know. Thanks again, Michelle

05-18-2006, 10:07 AM	#6
Minnymouth Super Moderator B/F Guru Join Date: Sep 2004 Location: Around the Corner Posts: 5,520 Blog Entries: 1	SinkingFast is correct, All transactions must go thru the Trustee..... for his approval. Unfortunately that is the way it is in a Chapter 13..... I don't see a problem with it and he probably won't either...... Minny
	Minny "It's amazing the paths that our feet sometimes follow in life". My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

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05-15-2006, 11:50 PM	#2
FilingOnMyOwn Registered User B/F Guru Join Date: Oct 2005 Posts: 1,793	In order for anyone to answer the question, you need to tell the rest of the story.

05-18-2006, 09:14 AM	#5
SinkingFast Registered User B/F Guru Join Date: Jan 2006 Posts: 6,857	I would think, and others will correct me if I'm wrong here,........ But I think you'll still have to contact the Trustee regardless. Even tho you are not taking on new debt, you are selling an asset that's essentially part of the BK Estate. The minute you filed BK, everything you own became part of the BK Estate. If you sell/trade an asset of the BK Estate, I'd think the Trustee would have to be notified. Probably won't be a problem. You're looking at an even trade off. And your attny shouldn't be charging you extra for this. Attnys charge more for Ch 13 plans because they have to be part and party to the plan for the duration of the payments. If you have a medical emergency that requires ammending the plan, the attny is supposed to handle that at no extra cost. It's a part of the deal.

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