QUESTION

If I let my car go in chapter 7 .can I go get another car with a cheaper payment before inmeet with the trusttee

Asked on Feb 26th, 2021 on Bankruptcy - Virginia
More details to this question:
Can I include my car in chapter 7 .an go get a new car loan for a cheaper payment before meeting with the trustee
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1 ANSWER

You should contact your attorney.  If your case is alraedy filed, in most cases, a debtor should not purchase any property, including a vehicle, until the trustee has reviewed the case and issued a Notice of No Assets in the case.  In most cases, debtors will not be able to bet financing from a lender until they have their discharge.   If you have not filed yet, you definitely need to speak with your attorney before puchasing.  Purchase of a new vehicle could cause a delay in when you are able to file by up to 6 months. 
Answered on Feb 28th, 2021 at 10:39 AM

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