Re: Anything wrong with this plan....?

Posted by LadynRed (199.91.33.254) on May 12, 2003 at 10:35:01:

In Reply to: Anything wrong with this plan....? posted by Jim on May 12, 2003 at 09:32:24:

Exemptions vary by state, so to know if the 'new' car would be exempt, we have to know what state you're in. Then you'd have to look up the 'black book' value on it.

As for your tax return and bonus and using it to buy a better car, it happens all the time in bankruptcies. Since its nearly impossible to get a decent car loan rate post-bk, getting a more reliable car BEFORE you file IS a good idea. As long as you can show where all that money went and you can use it on exempt assets, you should be in the clear.

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