Legal Question in Bankruptcy in Pennsylvania

bankruptcy

I am involved in a lawsuit regarding our newly built house, which is pushing me and my fiancee into filing a Chapter 13 bankruptcy. I am currently in the process of filling out the intial paperwork; all of our financial information, possessions, etc. My vehicle is older and will not last much longer. Would you recommend purchasing a new vehicle before I file? I'm affraid that if I wait, I will have a tougher time getting a line of credit for a vehicle. Please advise. Thank you.


Asked on 11/12/07, 4:24 pm

1 Answer from Attorneys
John Gibson John W. Gibson, Esquire

Re: bankruptcy

It depends on whether you are going to file in the very near future or wait a while. The Bankruptcy Court and creditors don't look kindly at a situation where someone goes out and buys a car and then files a bankruptcy right away. On the other hand, it does make sense from the consumer's point of view since he is likely to get better terms from the dealer before filing and will not have to get court approval of the financing.

You do not want to file a Chapter 13 Bankruptcy without an attorney, though. I realize that the fees may seem high, but there are so many traps under the present law that it doesn't make sense to try to go it pro se.

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Answered on 11/24/07, 2:47 pm


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