Central District Consumer Bankruptcy Attorney's Association

The newest Justice on the Supreme Ct. Just said it's fine to buy a car before Bk, we tell clients to keep the payment below $400/month
Dennis
Sent from my iPhone
On Jul 29, 2010, at 4:07 PM, "shawnswhite" wrote:
I have a debtor who wants to buy a new car before filing. It seems reasonable. His current car is 7 years old and he wont be able to get the loan after he files.
How does this go over with the Trustee? Also, how much, if anyone knows, can he spend on a vehicle without inviting trouble?
Thank you,
Shawn
The newest Justice on the Supreme Ct. Just said it's fine to buy a car before Bk, we tell clients to keep the payment below $400/monthDennisSent from my iPhoneOn Jul 29, 2010, at 4:07 PM, "shawnswhite" <shawn@cabankrupt.com> wrote:

I have a debtor who wants to buy a new car before filing. It seems reasonable. His current car is 7 years old and he wont be able to get the loan after he files.
How does this go over with the Trustee? Also, how much, if anyone knows, can he spend on a vehicle without inviting trouble?
Thank you,
Shawn

The post was migrated from Yahoo.

Two cases I have with this situation in a chapter 13 and Plan provided for
direct pay and full compliance with the terms of the contract. No problem
from Judge Mund or Mrs. Rojas.
Renay
On Thu, Jul 29, 2010 at 4:07 PM, shawnswhite wrote:
>
>
> I have a debtor who wants to buy a new car before filing. It seems
> reasonable. His current car is 7 years old and he wont be able to get the
> loan after he files.
>
> How does this go over with the Trustee? Also, how much, if anyone knows,
> can he spend on a vehicle without inviting trouble?
>
> Thank you,
>
> Shawn
>
>
>
R. Grace Rodriguez, Esq.
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CEL: (323) 304-5496
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Two cases I have with this situation in a chapter 13 and Plan provided for direct pay and full compliance with the terms of the contract. No problem from Judge Mund or Mrs. Rojas.Renay
The post was migrated from Yahoo.

I have a debtor who wants to buy a new car before filing. It seems reasonable. His current car is 7 years old and he wont be able to get the loan after he files.
How does this go over with the Trustee? Also, how much, if anyone knows, can he spend on a vehicle without inviting trouble?
Thank you,
Shawn

The post was migrated from Yahoo.