If I file with 2 high-mileage (but paid for) cars...

[Tom_Mi]

and one dies...
Will the UST let me reduce my plan pmt to pay on a replacement?

If people may file with a newer car, would I be permitted a payment on something similar?

Thanks!

[rrockinggramma]

NEVER go into a possible 5 year plan with a vehicle that might not make it or need repairs. Get yourself "set up" prior to making this move. If that means getting newer cars that will make it for the next 5 years, then do so before you file. Getting financing while in a chapter 13 is tough to accomplish.

[woeisme]

I have two high mileage cars and have already been in my CH 13 for about a year now, so it's too late for that advice to help me, but I agree with rockinngrandma, if you can swing getting financed for a newer car before filing Tom, I'd do that before filing if I had it to do all over again.

I actually asked about whether or not to get a new vehicle before filing on here last summer I think, and got the standard "ask your lawyer" advice. Asked my attorney who said "I have to advise you against taking on new debt if you know you plan on filing BK" so I didn't buy a car. Attorney later asked about cars at final paper-signing meeting, wanting to know why I didn't get a new one before-hand, I said because you told me not to! Attorney replied "I said that by law I'm required to tell you not to take on new debt if you know you plan on filing BK." I missed the by law part, and the implication that I should do it, just not ask his advice to do it, if you get my drift. Isn't it sad that the new law requires the attorneys to not give advice that would be in the best interest of their clients?

[woeisme]

PS. I really hope that the trustee will allow the plan to be modified to buy a car later down the line, but at least our attorney put in a monthly allowance higher than usual for maintenance on the cars since they are older and need repair more frequently than a new one would.

[BigJohn]

I might be wrong but I would suggest to the original poster to buy a new car, full warranty with maintenance. I believe if the interest rate is too high, the car can be paid inside the plan at a low interest rate of about 6-7 percent. Of course there is the Trustee's cut but the car payment will be offset by what you might have to ay back to unsecured creditors.

[dragonnfly]

We filed a Over the median 7 with 1 truck with 197,000 and surrendered my Durango. We still have not replaced the durango, I am currently driving my daughters car waiting til discharge, hoping to get a better rate. Anyways if we were going to be forced into a 13 the first thing we were going to do was go and get 2 new to us vehicles and not have to worry about that for 5 years. This in turn would have set our payments higher and put us right back to a 7 anyways. With all the vehicle questions we had I am convinced this played a part in the objections not following through. Go and get nice car good on gas a dont worry about it.

[becky20]

Ugh, I'm hoping our cars make it five years... My husbands car is okay - 2005 Dodge pick up with 45000 miles, but my car is a 2000 Pontiac Bonneville with 107000. Luckily I work from home so I don't put a ton of miles on my car, and I am PRAYING that my situation stays the same because I hear buying a car while you're in the plan is a major pain in the butt!!!

[liz417]

Hi,

I was told by my attorney to "set myself up" before our bk 13. I had an old 1995 truck with 240,000 miles on it. I was able to get a new (used '07) fuel efficient car with an affordable payments and a good interest rate (before my credit went south). I think attorney's can't tell you to take on new debt, but you really need to be looking to be sucessful in this long ch 13 road...

Good Luck!