Reply
New Member
JanelleOH
Posts: 5
Registered: ‎08-24-2013
0

Getting another car after ch 7

I filed for ch 7 August 2013 and had my 341 meeting in early September.  My trustee has already sent over a no asset report to the attorney and I was told to expect my discharge in early/mid November.  My car was included in the BK and the bank is very eager to get the car back, sending requests and phone calls to the attorney for me to sign a voluntary surrender and make a date to get the car.  I expected this but I really need some type of transportation.  My attorney advised it was ok to get another car.  I have found a very affordable used car that I am trying to get a small loan on as a replacement (main reason for getting the loan is for credit rebuild) but the whole process is new to me.  The car dealer says he called the court house and can't get any record of my BK.  He is now trying to search for me on PACER.  Is this all normal?  What should I expect?  This is a national dealer not a buy here pay here place.

Valued Contributor
ezdriver
Posts: 1,771
Registered: ‎08-24-2013
0

Re: Getting another car after ch 7

Did you explain to the dealer that you have filed but your case is in process and you are awaiting your discharge? Until the discharge is issued by the court, your bankruptcy is not comple and so it won't be seen anywhere as complete. Also, you are still liable for your diebt, but creditors cannot pursue collection due to an automatic stay granted by the laws, until the discharge is issued. The dealer should know better.

 

Why not buy a beater for cash until your bankruptcy is complete and then you can pursue a financed car purchase?



Starting Score: 618
Scores on 10/9/13: EFX 652, XPN 669, TUC 662
Scores on 3/17/14: EFX 649, XPN 677, TUC 681
Goal Score: 720 ALL


Take the myFICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}