My dh and I plan on filing in February, when we get our income tax return.
As of right now, we have one car loan, with a balance of about $7000 left on the loan. The car is worth about $9k. We are in need of a new vehicle right now- nothing is wrong with our current one, we just need a van for our family instead of our small SUV. We've been waiting until we have positive equity into the vehicle to trade it in, which just happened in the past month or two.
My question is if it is better to go ahead right now and get a new car and trade in this one before we file bankruptcy? Or should we wait until after our bankruptcy is filed before we try to get a new car loan.
Thanks!
As of right now, we have one car loan, with a balance of about $7000 left on the loan. The car is worth about $9k. We are in need of a new vehicle right now- nothing is wrong with our current one, we just need a van for our family instead of our small SUV. We've been waiting until we have positive equity into the vehicle to trade it in, which just happened in the past month or two.
My question is if it is better to go ahead right now and get a new car and trade in this one before we file bankruptcy? Or should we wait until after our bankruptcy is filed before we try to get a new car loan.
Thanks!
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