This is weird... I talked to an attorney (#3) who is very well respected in my area and he said I could purchase a vehicle before I file Chapter 13. I have a very old vehicle that will not make it much longer. I asked if this is gaming the system and he said no. Has anyone heard of this? I was pre-approved at a high interest rate but overall not bad.
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It's pretty standard advice to get your transportation needs taken care of prior to filing bk.
You'll have very diffcult time finding financing after you file a 13 and you need a new ride.
Nothing improper about your lawyers advice. -
In addition, its possible that the 'new to you' car could be paid at a lesser interest rate thru your ch. 13 plan.~Staci
Not an attorney, and never played one on tv. My responses are based on my own experiences & personal opinions.)Comment
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He'll have had to own the car for over 910 days for this to happen.Originally posted by SMinGA2 View PostComment
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The 910 day rule is to cram down the car value. It has nothing to do with the interest rate. Some districts pay the car lender a 'till rate' in the 4-9% range.
Originally posted by keepmine View Post~Staci
Not an attorney, and never played one on tv. My responses are based on my own experiences & personal opinions.)Comment
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