Legal Question in Bankruptcy in Oklahoma
Car purchase
Befor fileing chapter 7 can I purchase a new truck if I intend to keep it? I will be giving up a truck that is being leased and is 2 years old with 65k miles.
Asked on 11/24/02, 11:48 pm
1 Answer from Attorneys
Hunt John
Urgentlegalcare.com
Re: Car purchase
Thank you for your question. Yes you can if your plan is to reaffirm the debt after the bankruptcy is filed. Your exemption in a car you might purchase however is limited to $3000. Therefore you do not want to have any equity in a new vehicle that you purchase in excess of this exemption.
Answered on 11/25/02, 1:18 pm
Related Questions & Answers
-
New Bankruptcy Laws How long does it take to file? Will the new bankruptcy laws... Asked 11/15/02, 6:52 am in United States Oklahoma Bankruptcy Law
-
Home in my name, mortgage not I am thinking about filing bankruptcy. I have a car... Asked 10/11/02, 4:04 am in United States Oklahoma Bankruptcy Law
-
Bankruptcy I would like to kow if you think that filing bankruptcy would be a good... Asked 8/29/02, 12:26 am in United States Oklahoma Bankruptcy Law
-
Are student loans ever discharged? Are student loans ever discharged under any... Asked 8/27/02, 11:59 am in United States Oklahoma Bankruptcy Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
