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Turn in car and purchase new car after Chapter 13 Filing =
If you can show the new vehicle will save money by reduced repair costs, fuel savings, meaning a higher distribution to unsecured creditors then a Motion to Incur New Debt would likely be approved. You can also show the cost and difficulty to the debtor of taking public transportation. If the Debtor has children and they live to far to walk the the cost of school bus transportation would also factor in.
Catherine Christiansen
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To: cdcbaa@yahoogroups.com
Sent: Wednesday, April 25, 2012 10:53 AM
Subject: [cdcbaa] Turn in car and purchase new car after Chapter 13 Filing but before confirmation
I have a Chapter 13 client who would like to surrender a vehicle to the creditor because it constantly breaks down. The debtor would need to purchase a replacement vehicle immediately. If the debtor must make trustee payments of all disposable income he will not be able to afford a replacement vehicle. Any ideas for making this work at this time?
Andy Epstein
The post was migrated from Yahoo.