Good morning,
My husband and I are planning to file Chapter 7 bankruptcy in Missouri pro se. I feel comfortable with most of the paperwork myself and have researched any questions I have. There's just one thing that I need additional clarification on.
We totaled our paid off Pontiac Vibe in November 2024 (heartbroken, best car I ever had) and had to make the decision to get something quickly, our funds were tapped out after a home purchase earlier last year and all the fun surprise repairs we had. We ended up going through Carvana for a 2024 Kia Soul with 5K miles. Our loan is at 23,272 and the car is worth about 22,700. Payment is $658 per month for 5 years, with a 20.5% interest rate.
I know, not great. It's our only vehicle, and my husband uses it 3.5 days a week to get back and forth to work. We would like to "retain and pay" that's what we put on our statement of intention. The goal is not to reaffirm, but I am not sure how Bridgecrest handles this internally. My research online hasn't led to much. My best guess is they will push hard for reaffirmation then potentially repo even if we stayed current?
Should we consider pushing hard to come up with funds to buy a beater in the next couple of months before we file or would that look bad to a trustee? We are hoping to file in the next 3 months. I have considered using a lawyer because this is the only area I feel stuck in but I am hoping you fine folks have some thoughts or ideas.
I appreciate your time.
Editing to add: We will have to use Kansas exemptions as we lived there more of the last two years, we moved to Missouri in June 2024. Not sure if that is important, but wanted to include that information.
My husband and I are planning to file Chapter 7 bankruptcy in Missouri pro se. I feel comfortable with most of the paperwork myself and have researched any questions I have. There's just one thing that I need additional clarification on.
We totaled our paid off Pontiac Vibe in November 2024 (heartbroken, best car I ever had) and had to make the decision to get something quickly, our funds were tapped out after a home purchase earlier last year and all the fun surprise repairs we had. We ended up going through Carvana for a 2024 Kia Soul with 5K miles. Our loan is at 23,272 and the car is worth about 22,700. Payment is $658 per month for 5 years, with a 20.5% interest rate.
I know, not great. It's our only vehicle, and my husband uses it 3.5 days a week to get back and forth to work. We would like to "retain and pay" that's what we put on our statement of intention. The goal is not to reaffirm, but I am not sure how Bridgecrest handles this internally. My research online hasn't led to much. My best guess is they will push hard for reaffirmation then potentially repo even if we stayed current?
Should we consider pushing hard to come up with funds to buy a beater in the next couple of months before we file or would that look bad to a trustee? We are hoping to file in the next 3 months. I have considered using a lawyer because this is the only area I feel stuck in but I am hoping you fine folks have some thoughts or ideas.
I appreciate your time.
Editing to add: We will have to use Kansas exemptions as we lived there more of the last two years, we moved to Missouri in June 2024. Not sure if that is important, but wanted to include that information.
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