More details to this question:
We had to salvage our second car. We made a proposal and a down payment to replace that vehicle. We never received an answer from the Trustee and the deal was cancelled. We lost $750 of our down payment. Our other vehicle was totaled a few days ago and the attorney gave the same instructions: submit a proposal. Why should we believe that this new proposal will receive any attention? We feel confused and intimidated.
5 ANSWERS
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Find a more skilled lawyer. Your losing your deposit should not have happened if you were in close communication with your lawyer.
Answered on Feb 02nd, 2016 at 4:06 AM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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I can't respond to feeling confused and intimidated. By whom? Or what? Do not make deals with auto lenders to require a down payment before the loan is approved by the court. My clients have never done that and have received loan approvals.
Answered on Feb 01st, 2016 at 5:39 PM
A proposal to finance the purchase of a vehicle while in a Chapter 13 requires that you show that in spite of running up an additional debt, you will still be able to make the plan payments the court requires. This is essentially a function of showing your work when you perform 5th grade math calculations. So did you look at the proposal your attorney previously sent to the trustee to see if it explained why and how you could afford a new vehicle purchase and still make your plan payments?
Answered on Feb 01st, 2016 at 5:39 PM
Ask your lawyer to approach the Chapter 13 Trustee.
Answered on Feb 01st, 2016 at 5:38 PM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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The trustee ALWAYS responds to replacement vehicle proposals and usually they are submitted by your attorney. The attorney should give you advice about what the trustees's requirements are. Sounds like your attorney isn't familiar with Chapter 13 procedure. You might want to talk to the US trustee's office about your attorneys lack of support.
Answered on Feb 01st, 2016 at 8:45 AM