Newer car purchased BEFORE Filing chapter 7

[BBNLB]

If I purchase a newer car BEFORE i File chapter 7 will I loose it. My truck is on it's last leg and BEFORE my credit is toasted should I purchase a newer vehicle or will they take the newer vehicle and then I'm TOTALLY out a vehicle???

[keepmine]

Get reliable transportation before you file.
It's no issue as long as the equity in the new ride is below your states exemption.

[BBNLB]

how do I find out what the state exemtion is (Oregon)

[ColoradoBell]

I 'm guessing you could just google Oregon Bankruptcy Exemptions.

I've read that if you lease a car that since it isn't owned you cna't lose it....but I'm just learning about stuff so don't take my word on that please!

[Mensa1]

No problem buying a vehicle prior to filing Bk as long as it isn't a BMW or Mercedes. Keep the pymt less than $ 400 mo and you should be fine; less if you can and the amount of pymt should correspond to your ability to make the payment once discharged.

In order to keep the car it will need to have less than 1700 in equity in it, (OR exemption), and you will need to reaffirm the debt in Bk, meaning you are reobligating yourself for the debt as if you hadn't filed on that creditor. Other than that you should have NO issue here; this happens all the time.