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  I am currently in a chapter 13 plan; Can I get a new car loan?

Yes, you can but you will need permission of the Court.

 

While you are in chapter 13 bankruptcy you are prohibited from incurring new debt without permission of the Court. This means no new credit cards, home loans, car loans, or other sorts of debt until your case is over.

However, the Court will grant you permission to incur certain types of debt. The Court will understand that a car is a necessity for you to get to work and run your daily life. Therefore the Court will grant permission for you to incur a new car loan that is reasonable. Luxury cars are not likely necessary nor are trucks or SUVs, unless you need the truck for work, or have an exceptionally large family.


Posted By Robert Kovacs on January 17, 2010 03:03 pm | Permalink 
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The Law Office of Robert W. Kovacs, Jr. is a debt relief agency; helping people file for bankruptcy relief under the Bankruptcy Code.

The information on this Worcester Framingham Bankruptcy Lawyer / Attorney website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

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Worcester Office:      172 Shrewsbury Street   Worcester, MA 01604      Phone: (508) 926-8833
Framingham Office:    945 Concord Street    Framingham, MA 01701    Phone (508) 532-0550
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