Better to buy car before or after filing?

[follie]

Hi everyone! I've done a search but couldn't find the answer to my question.

I plan on filing Ch. 7 soon (within two months- just saving up the moo-lah). However, because of my job changing, I need a car. Mine was repo'd back in April.

I don't want to screw anything up (I've screwed enough things up already ).

Is it better to finance a car before filing and reaffirm or wait until after discharge?

Thanks!!!

[Minnymouth]

If you just recently had a car repo'd then its going to be very hard for you to finance another without co-signer, etc...... Probably can't get a loan at this time.....

If your in a position to buy one, then you need to do it before you file bankruptcy as during the BK process you cannot buy/sell anything of value without the approval of the Trustee......

Good luck..........

[FoolAndHisMoney]

Hi everyone! I've done a search but couldn't find the answer to my question.

I plan on filing Ch. 7 soon (within two months- just saving up the moo-lah). However, because of my job changing, I need a car. Mine was repo'd back in April.

I don't want to screw anything up (I've screwed enough things up already ).

Is it better to finance a car before filing and reaffirm or wait until after discharge?

Thanks!!!

And be very careful with a "bankruptcy friendly" used car dealership. You would almost be better off taking the bus to work if you can and save cash for a reliable car from a private seller then getting caught up with those low life dealers. They will approve you even with a repo and charge you 24% APR on a lemon.

[SinkingFast]

Ch 7 will take roughly 90-120 days from filing to discharge, IF everything goes smoothly.

No Creditor will even offer to lend you money during an open and active BK. They know that at anytime before Discharge, you can ammend your filing to include their debt for discharge.

So if you need a car now, you're best off to buy whatever you can with cash. Hope the best, that an old beater will carry you until your BK is discharged. Then work on cleaning up your credit and try for a car loan post BK.

[YRUSODUMB]

Hi everyone! I've done a search but couldn't find the answer to my question.

I plan on filing Ch. 7 soon (within two months- just saving up the moo-lah). However, because of my job changing, I need a car. Mine was repo'd back in April.

I don't want to screw anything up (I've screwed enough things up already ).

Is it better to finance a car before filing and reaffirm or wait until after discharge?

Thanks!!!

I think buying a car and paying for it isn't working to well for you. You might do better with public transportation.