Legal Question in Bankruptcy in California

Re: Can I purchase a vehical then claim bankruptcy?

Thanks for your inquiry, and I am sorry to hear about the breakup of your long term relationships, and its after-effects.

Bankruptcy law allows you to "reaffirm" on any existing debts, especially secured debts, if you and the creditor agree, and if it does not present a hardship to you.

What this means is that you may be able to get a new vehicle, and then reaffirm on that debt in a later bankruptcy, and discharge the other vehicle and surrender it without being responsible for future payments. Note, however, that debt 60 days before bankruptcy may be examined by the trustee or a creditor, and commented on.

I hope this answer helps, but if you need more information or have other questions, please feel free to contact me directly via email at [email protected]. I'm happy to help in any way that I can.

Re: Can I purchase a vehical then claim bankruptcy?

Yes, you can. But you need to be careful with the value of the new vehicle to make sure it is exempt and also so that the expense is not above what is allowable. You should consult with a bankruptcy attorney prior to taking any action. I would be happy to give you a free consultation. If interested, just visit my webpage and then contact me to schedule a time.

Regards, Mark