Can you buy a car while in a chapter 13 bankruptcy?

Answer 1

You CANNOT do any major purchases, sales, new debt, etc.....WITHOUT the approval of your administrator. Do something, like RIGHT NOW, that you absolutely should have done before: All those papers that have what you generally not only agreed to, but ASKED THE COURT TO DO, and swore you would abide by (signed and everything)...and even signed agreeing that not doing them would subject your case to dismissal and you to possible legal prosecution.......READ THEM.

Answer 2

You can buy anything you want.

However if you want to get a loan, (which you should understand by now means you haven't bought anything...just really incurred an obligation), you need to get approval of your trustee. Not doing so, which you agreed to do for the courts protection from your existing creditors..means your case will be dropped and you will likely have to deal with criminal contempt of court charges.

And a lender...and that ain't going to happen.

Answer 3

You can incur no new debts or make any financial changes without getting approval of your administrator. Please read the documents you signed and swore to abide by to the court...where you agreed to all this...failing to do what you swore to is not only at least criminal contempt of court, but will have your case summarilarly dismissed.

Answer 4

Yes, but.... The car loan will probably not be dischargeable or be subject to a cram-down. And you could be subject to a fraud charge if you knew you were bankrupt and intended to file for bankruptcy when you bought the vehicle.

Answer 5

While in a Chapter 13 debt repayment bankruptcy, you must consult the bankruptcy trustee before engaging in a major financial transaction, such as the purchase of a vehicle.

Answer 6

You can buy a car right after you get your discharge papers. Most Car Dealers offer special programs for Bankruptcy Discharges.