Buying a Car

[Overdrawn08]

Hi! I have retained a lawyer and paid half of my fees, but my case hasn't been filed yet. It looks like it will happen in August. The problem is that my previous car that I planned to surrender anyway when I filed was repossessed a lot quicker than I thought it would be. I was two months behind on payments and they were pretty quick about coming to get it. Now, I am in a rental car, but I can't keep that up and I have to have a car for my job. I'm not trying to buy a new car or anything fancy, but I have to have something. Does anyone know how is it usually looked upon when you buy a car before you file bankruptcy when you old car was repossessed? Can I apply for a loan for a cheap car and reaffirm it later?

Thanks!

[lrprn]

Yes, you can buy a car before filing. Talk to your lawyer first to find out how much car payment you need to ensure you still qualify for Ch 7 and match that as closely as possible. This isn't the time to buy a 2008 car packed with stuff. Find a good serviceable car - nothing fancy. If you can find a lender willing to lend to you, get ready to pay a ton of interest with such a recent repossession on your record.

If the trustee asks why you bought a car close to filing, explain about the repossession and need for a car to get to work. You'll be fine.