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About to file for chapter 7 but will I be dismissed

Pillsbury1109
Member

About to file for chapter 7 but will I be dismissed

So I have a few judgements that the creditors are starting to collect on and I can not afford it so that is why I'm filing chapter 7 the only thing I'm worried about if I bought a new used cars about 5 or 6 months ago nothing fancy just a 2016 Passat 24% interest from carvana my lawyer's office said I can surrender this during the chapter 7 I'm just afriad since the loan is so new the trustee will feel it's shady and and I will run into to issues I have a previous repo of about 11k from 2 years ago that will be in this. Chapter 7 also and info would be great thanks
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2 REPLIES 2
JTC-137
Regular Contributor

Re: About to file for chapter 7 but will I be dismissed

You’ll be fine in regard to the car purchase. I had the exact same situation...financed a vehicle 5.5 months before filing, not a word was said about it.
Message 2 of 3
FireMedic1
Super Contributor

Re: About to file for chapter 7 but will I be dismissed

+1. You should be fine. A vehicle is a necessity. If you went out and got a Z06 Corvette. Smiley Very Happy Well then that would be a problem. Then the decision will have to be up to the lender. Some will make you reaffirm the car. Some wont. There's different angles. No reaffirmation and then pay and go. But it wont report to the CRA's and you can turn it in at anytime. Or reaffirm and pay as usual and it will report to the CRA's. Your attorney will tell you which way would be best once your numbers are laid out on the means test and other factors. We dont know your whole file. But I wish you the best of luck. Sorry it had to come to this. But hey. Many of us had to. Your not alone.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
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