Car Purchase for Cash-

[charmd]

We currenly only have 1 car and are purchasing a 13 year old car for cash.
Do we have to notify trustee and get approval if not financing?


Thanks

[BNKRPTinNC]

From a logical standpoint I would say no. You don't need approval to buy a loaf of bread. However, law defies logic on occasion. For me I hope not as I have saved enough to pay for tires on 3 vehicles and other big ticket items needed around the house and all without prior permission.

[LadyInTheRed]

I don't think you need trustee approval either. But, I'd still check with my attorney first. No point in taking chances when you hired an attorney to help make sure you don't make mistakes.

[lrprn]

We were forced to remodel a severely leaking bathroom during our 13 and did it with cash (several thousand dollars worth). Our lawyer told us, "If it's not a loan, then there's no reason to notify the trustee."

[kakdbass]

I agree with the others. If you're not borrowing or taking on more debt then I see no point in involving the trustee. But, wouldn't hurt to ask your attorney.

[Limitman]

I actually bought a boat about a year into my 13. I paid cash it was cheap. I didn't have to notify the trustee but my trustee seemed kind of easy to deal with. As long as the weekly payments were made he didn't seem to care what happend.

[charmd]

Thanks for all of the advice- that is what I thought, but I was not sure if the Trustee gets registation reports from the DMV? I don't even know if that is a real thing and it sounds like I am over thinking this.
I did notify our attorney, but have not heard back yet. I normally have to wait a week or two and 3 - 4 more phone calls before he responds since we are confirmed.

[keepsmiling]

I cannot imagine a tt sifting thru dmv reports on the off chance someone who filed shows up with something.
That's your imagination working overtime.
You should be fine.

[charmd]

Thanks again- as my husband would say - I worry about everything!
Will just feel better when this is all over. 3 years left and I am just thankful the the first 2 years have gone smoothly.

[TrainWreak]

I bought a car for cash $6000 last June and put a roof on the house cash $5000. I worked temp jobs to get the cash during 2010-2011. We wanted a better car but I couldn't work the extra hours any longer. My work van died and we have another old car. I sold the van for $125 for scrap. If the the trustee wants the $125 no problem. Van listed on petition for $200
I didn't even think to inform my attorney until a couple of weeks ago and haven't heard back.
I send my trustee tax filing information each spring. Most of the extra $11000 income will be on 2011 so I guess I will find out next month if there is a problem.
But my attorney has an email and letter so he is up to speed on things.
The way I see it yes I had extra income but I also had extra expenses. I just hope the powers that be see it that way!

[andy158]

Sold a 1991 truck that wouldn't pass state inspection anymore due to rust issues. Replaced it with a 1996 truck. Did not see any reason to notify attorney. Only added $400 to purchase other replacement vehicle.

We did have to take a loan on my 401k for $2,500 to purchase a new transmission for our car that is crammed down in our plan. Can't sell that one til we are discharged. Notified attorney and he did not have any problem with it if we could make the $100/mo repayment.