.jpg)
Vehicles purchased with relative's credit
The debtor is leasing the car, or renting the car, from a family
member. Amend to so state, take the deduction.
Sent from my iPhone
On Oct 7, 2010, at 5:07 PM, "jiheekim322" wrote:
>
> A client has poor credit thus unable to get affordable financing yet
> he needs a car. He asks his relative to take out a loan under the
> relative's credit and he agrees to be responsible for payment and
> maintenance. He files for Ch 13 and trustee argues that he can't get
> credit for the car payment because it's not his legal liability.
> This places a very unrealistic burden on the client because he's
> faced with a higher plan payment while he needs the car for his
> livelihood.
>
> Has anyone had similar situations, if so, how did you deal with it?
> Even if you haven't had such, any thoughts re. the issue would be
> greatly appreciated.
>
>
The debtor is leasing the car, or renting the car, from a family member. Amend to so state, take the deduction.Sent from my iPhoneOn Oct 7, 2010, at 5:07 PM, "jiheekim322" <jiheekim322@gmail.com> wrote:
A client has poor credit thus unable to get affordable financing yet he needs a car. He asks his relative to take out a loan under the relative's credit and he agrees to be responsible for payment and maintenance. He files for Ch 13 and trustee argues that he can't get credit for the car payment because it's not his legal liability. This places a very unrealistic burden on the client because he's faced with a higher plan payment while he needs the car for his livelihood.
Has anyone had similar situations, if so, how did you deal with it? Even if you haven't had such, any thoughts re. the issue would be greatly appreciated.
The post was migrated from Yahoo.
A client has poor credit thus unable to get affordable financing yet he needs a car. He asks his relative to take out a loan under the relative's credit and he agrees to be responsible for payment and maintenance. He files for Ch 13 and trustee argues that he can't get credit for the car payment because it's not his legal liability. This places a very unrealistic burden on the client because he's faced with a higher plan payment while he needs the car for his livelihood.
Has anyone had similar situations, if so, how did you deal with it? Even if you haven't had such, any thoughts re. the issue would be greatly appreciated.
The post was migrated from Yahoo.