Do I really have to wait 60 days after filing to buy a car or until actual discharge?

[bkmaggster]

I am just trying to get a CHEAP car. There should be no red flags raised ANYWHERE! I am just one poor soul out of a million+ people per year who file bankruptcy.

You guys are adding way too much drama to such a small thing. I am small potatoes compared to the rest of the people out there filing bankruptcy.

What would cause the UST to want to re-open the case? How would they know anyway? What system is in place? My lawyer told me that you could win the lotto after getting discharge and not have to worry.

It doesn't matter that you are trying to get what to you is a cheap car. It matters that you are trying to get a loan before discharge.

You are not small potatoes with your 70+ creditors.

LOL @ you telling people on this board that we are adding drama.

If you are going to have 6k in cash, buy a 6k car. No one can repo from you what you own outright.

[jadams]

I think you're constantly digging for exactly how close you can come to the line before you cross it.

You want black and white answers about what can or can't be done. Unfortunately the Bankruptcy code leaves a lot of grey.

People here say don't do this or that it can get you into trouble. Does that mean it definitely will or always will? No.

But people are trying to be helpful and give you answers that will make the process as smooth as possible.

To "win" to most of the people here is not necessarily fighting for every single thing they can get, it's making it out the other side with as little difficulty as possible and moving on with their lives.

Your attorney may be correct that money you have for the down payment and buying the car won't be a problem -- but it's very easy for an otherwise straightforward 341 to get complicated.

If the trustee sees you had a decent chunk of money for a down payment, there's a good chance they will think you might be hiding something or at least demand supporting documentation from your attorney about where the funds came from and why they're exempt.

Can it be resolved without adverse action? Maybe. But in general the more time spent and documents reviewed, the more likely the trustee will find something that bugs them. Or it will just delay your discharge and increase your attorney fees -- making it longer until you can rebuild from this.

If you trust your attorney, by all means follow their advice. But just because something is possible doesn't mean it's a good idea.

[Amy26]

If you had already asked your lawyer and were going to go with his advice you would not have posted on a forum knowing what we would say to you. You obviously do not want people's opinions or advice...BECAUSE YOU NEVER TAKE ANY ADVICE ANYONE GIVES. You just argue... its like you make posts just to start controversy. Everyone has said pretty much the exact same thing in this thread but you never conceed and say "yea you're right, guess that's what I should do..." you just keep rebutting with the same fruitless arguments. Honestly, we should just stop replying. And I dunno about your lawyer when almost everyone's lawyers have advised them NOT to take any additional loans or debts before your 341 or even after. Some do with the trustee's permission but it doesn't appear you are seeking his advice.

[LuciluS]

Debmonster: You posted the below in another thread today at 10:58 am

I have no plans to take on new debt prior to a 341. I have two cars in my possession right at this very moment. I was reading somewhere on here that these people can snatch the cars 6 weeks after you file. Okay, so that's 1/2 way into a bankruptcy. What are you supposed to do with no cars and not enough to buy one for cash? That means you need to finance. And for those who have to drive to work, that means they have to quit their job until their bankruptcy is over. Then they will have to buy a car after discharge and go back to work. I don't think anyone wants to be without an income for a whole month. That would not be cool. Until the 14th, I had exactly $7.16 in my checking account. Isn't that music to your ears? You guys gotta be loving it! It's so much fun running your checking account into the ground and worry about how you will eat or put gas in the car. It turns a boring life into a creative one! OH WHAT JOY TO BE BROKE!

I have some ideas to make some money next year, but it will require a lot of sweat equity and some investment.

------------------------------------------------------------------------

Your post in this thread says you will earn $12,000 in the next 3 months.

Then, you post the above You are Broke in another thread.

Your Posts are not consistent.

Now, it leads me to believe your posts are not true.

[Flamingo]

Debmonster: You posted the below in another thread today at 10:58 am

I have no plans to take on new debt prior to a 341. I have two cars in my possession right at this very moment. I was reading somewhere on here that these people can snatch the cars 6 weeks after you file. Okay, so that's 1/2 way into a bankruptcy. What are you supposed to do with no cars and not enough to buy one for cash? That means you need to finance. And for those who have to drive to work, that means they have to quit their job until their bankruptcy is over. Then they will have to buy a car after discharge and go back to work. I don't think anyone wants to be without an income for a whole month. That would not be cool. Until the 14th, I had exactly $7.16 in my checking account. Isn't that music to your ears? You guys gotta be loving it! It's so much fun running your checking account into the ground and worry about how you will eat or put gas in the car. It turns a boring life into a creative one! OH WHAT JOY TO BE BROKE!

I have some ideas to make some money next year, but it will require a lot of sweat equity and some investment.

------------------------------------------------------------------------

Your post in this thread says you will earn $12,000 in the next 3 months.

Then, you post the above You are Broke in another thread.

Your Posts are not consistent.

Now, it leads me to believe your posts are not true.

There are some people who post just for attention and all the hits and responses they can get just to get everyone riled up and respond. That falls under the definition of a "troll" but then again there are some folks that just cannot handle finances in any way, shape or form or just do not get it no matter what.

[whipster1]

Agree w/Flamingo and Luci. Posts are from one end of the spectrum to another. Maybe if we didn't respond... (like I just did lol)

[debtmonster]

Debmonster: You posted the below in another thread today at 10:58 am

I have no plans to take on new debt prior to a 341. I have two cars in my possession right at this very moment. I was reading somewhere on here that these people can snatch the cars 6 weeks after you file. Okay, so that's 1/2 way into a bankruptcy. What are you supposed to do with no cars and not enough to buy one for cash? That means you need to finance. And for those who have to drive to work, that means they have to quit their job until their bankruptcy is over. Then they will have to buy a car after discharge and go back to work. I don't think anyone wants to be without an income for a whole month. That would not be cool. Until the 14th, I had exactly $7.16 in my checking account. Isn't that music to your ears? You guys gotta be loving it! It's so much fun running your checking account into the ground and worry about how you will eat or put gas in the car. It turns a boring life into a creative one! OH WHAT JOY TO BE BROKE!

I have some ideas to make some money next year, but it will require a lot of sweat equity and some investment.

------------------------------------------------------------------------

Your post in this thread says you will earn $12,000 in the next 3 months.

Then, you post the above You are Broke in another thread.

Your Posts are not consistent.

Now, it leads me to believe your posts are not true.

So what you are saying is that $12,000 is a lot of money in 3 months? Are you making $7 dollars an hour or something?

That's what seems to be the issue here.

Well, actually I made $3,500 this month, so I guess that brings it down to $10,500 in 3 months then. Sometimes I get lucky with a $4,000 dollar month. I got paid on the 14th.

After we paid for my wife's school, the utilities, business expenses, etc., we are already down to having about $1,200 left and that's all we have to live on until next month (Sep. 15th). That's an average of $300/wk. And out of that $1,200, I have not paid for any of my medication, food or gas. My medication and doctor visit can cost an easy $450. Plus out of all of these expenses, none of this included any rent.

[shabam]

I wouldn't be pushing your luck with anything in BK. Play it safe and get through it.

[debtmonster]

I've never seen any people jump to conclusions so badly.

So if a family member has $6,000 that they will give me, where's the crime?

[AngelinaCatHub]

I've never seen any people jump to conclusions so badly.

So if a family member has $6,000 that they will give me, where's the crime?

The crime is when you do not tell the Court about it.

[AngelinaCatHub]

If you had already asked your lawyer and were going to go with his advice you would not have posted on a forum knowing what we would say to you. You obviously do not want people's opinions or advice...BECAUSE YOU NEVER TAKE ANY ADVICE ANYONE GIVES. You just argue... its like you make posts just to start controversy. Everyone has said pretty much the exact same thing in this thread but you never conceed and say "yea you're right, guess that's what I should do..." you just keep rebutting with the same fruitless arguments. Honestly, we should just stop replying. And I dunno about your lawyer when almost everyone's lawyers have advised them NOT to take any additional loans or debts before your 341 or even after. Some do with the trustee's permission but it doesn't appear you are seeking his advice.

OK, Folks, DM is a fake in my humble opinion. He has been here crying now for months. He has gotten people upset with threats of killing Process Servers and himself. Going back on his many posts and 17 months here with no real action, he now claims he makes 12K in three months. Hell, my wife only made twice that in a year.

Flamingo is right on, as DebtMonster is a "Troll" attempting to get attention and we are wasting our time feeding him. He has not administered any help what-so-ever here on this forum. He has whined and sobbed, and now indignant that WE cannot call only 13K a little bit of money. My wife's car is an old police car we have driven for four years. Cost 800 bucks then.

I'm sorry, but I was the first to fall into this trap and I've had enough of him and his "adventures".

Anyone who knows me would be the last to believe what I am saying but DM is fleecing this forum and I am not allowing it to go unnoticed when other people could be using your talents and experiences more than a man who will not listen and is using this place for his entertainment.

Sorry if I get banned for this comment, but I have followed and "befriended" DM and have been duped for the last time. 'Hub

[Strapped4Csh]

To answer the original question:

If you're looking to finance prior to discharge, 722 redemption has a program that will let you buy a car prior to discharge. It requires the approval of the trustee, and when I talked to them last week you had to buy a domestic vehicle from one of their dealers.

As others have said -- I'm not sure that it is technically ILLEGAL, but if you obtain credit prior to discharge, I would suspect that the trustee would find out (credit report, etc.).

[debtmonster]

I don't appreciate you people making these accusations about me at all.

I was trying to hold off from filing bankruptcy all this time and now I've finally done it. There is NOTHING illegal about anything. Why do I need to tell the court about money I may or MAY NOT have in the future? That makes no sense. They only want to know what's here and now, now what may or may not be in the future.

$6,000 is an asset of a FAMILY MEMBER, not me. So what am I supposed to do, tell the court the assets of all of the people who "may" be able to help me put a partial down payment on a car? Get real.

You people must all be really poor to be on here. I thought I was poor making $50,000/yr. Are all of you making like $16,000/yr. or something?

I haven't seen any of you post your gross annual incomes, so I have no idea. Why am I the only person here giving out all of the facts about my life and then all of you keep all of yours such a secret?

[AngelinaCatHub]

Forty eight Thousand dollars a year and you are going to your 341 August 28. You are a fraud. See my last post.

[backtoschool]

My personal opinion is that DM is a troll. It's the sarcastic tone and the enjoyment he gets out of making fun of other posters that helped me form this opinion.

The actual content of DM's circumstances could be realistic, after all I am a person who had a high income....until I was laid off and didn't have ANY income but unemployment insurance. I have a few of the trappings of my past earning life floating around me like wreckage from the titanic as I stay afloat on my life raft waiting for my 341. It doesn't mean I don't "deserve" to file chapter 7, it simply means that I had farther to fall....

I don't think comparing whose car costs more, or who is keeping what in their exemptions means much. We are all starting over in one way or another.

Just my opinion....