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    tracywright's Avatar
    tracywright Posts: 1, Reputation: 1
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    #1

    Apr 16, 2008, 01:39 PM
    Bankruptcy Chapter 7
    How long will I have to wait for my discharged papers to purchase a car if I was discharged Monday? Can I purchase a new car?
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
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    #2

    Apr 16, 2008, 04:05 PM
    Your chapter 7 was just discharged on Monday, it's Wednesday, and you can't wait to go back into serious debt?

    I'm sorry, that just doesn't hit right.

    You realize that you will be charged way more than the car is worth, your interest rate will be astronomical, and chances are the car won't last until the loan is paid off.

    Save a little money, get yourself a cheap little car to get by with for a while.

    At least give the ink time to dry before you start all over again.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Apr 16, 2008, 05:57 PM
    If it was discharged on Monday, you can buy a car today, if someone is stupid enough to lend you the money.

    But did you not learn anything from the chapter 13, why do you need another car, what is wrong with your current car?

    If you get a car today, you will be paying triple or more interest over normal. Why not wait, save up money, drive your older car and work on a budget.
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #4

    Apr 16, 2008, 07:58 PM
    Quote Originally Posted by tracywright
    How long will I have to wait for my discharged papers to purchase a car if I was discharged Monday? Can I purchase a new car?
    No waiting at all. You can purchase as much as your lender believes you can afford.
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