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Anything wrong with this plan....?
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Posted by Jim
(152.160.159.222) on May 12, 2003 at 09:32:24:
Hello, I'm about to file Chapter 7 in August or so. However, I'm getting a fair size tax return and a yearly company bonus sometime around the end of June. What I want to do is buy a good reliable car with that money as my current car is on it's last legs. I figure that I need to get a good vehicle before the BK since financing will be harder afterward. I'll have enough funds to pay cash for the car I want. I'm just wondering how the court will look upon my buying a $3-$4000 vehicle just months before filing. I have to have a good vehicle for work, so I'm hoping they won't try to take it away. I think is should be exempt. Am I right? Thanks
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