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Buying a Car before or after Ch 7?

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Junior Member
What is the name of your state? Missouri

Over the last 2 or so months, things have been needing to be replaced on my 2003 chevrolet cavalier. I owe about $10,500 on it and it's work about $5500. My Atty advised that I reaffirm this debt. My question is....is that I need new tires and new brakes..I really don't want to put any $ into this car right now....and at some point after my BK is done, I would like to buy a newer, better car. Should I do this now (while everyone is having the employee pricing) or should I just invest the $ into the car right now and wait til later to get a newer car? If I do get a new car, will this affect my BK case? It hasn't been filed yet, it will probably be filed the 2nd week in Sept.



Junior Member
oh I'm sorry, I thought I was coming here for an answer to my question, not to be insulted. I guess wanting more reliable transportation is a bad thing.....


Senior Member
No way I'd reaffirm a debt where I'm upside down by 50%
Talk with your lawyer about 722 redemption financing.


I'll put it a little more gently than the last poster. Financing a brand new car and having it depreciate by 20% or more the moment you drive it off the lot and then file bk and likely reaffirm a car where you owe more than it's worth by a large amount is not a good decision.
Check into the redemption financing and repair your car. Don't start life post with a whopping car payment.


Problem is that last I knew in MO you were not allowed a purchase of more than $500 for six months before OR after filing BK, so unless you are planning to wait and get caught in the new regulations, then you are pretty much stuck with the car.

Talk to your atty. By all means don't jeopardize your case by not talking to him first. That is a major purchase, and BK courts don't look kindly on people who can make major purchases and still file, no matter how good their reasons. Besides, he probably is planning on clearing the interest on the car so that you don't owe so much; selling it won't do you any good (and could hurt your case) and if you let it go back to the bank and have no other transportation and then can't purchase anything over $500 for 6 months, you will be in worse shape yet.


Senior Member
Problem is that last I knew in MO you were not allowed a purchase of more than $500 for six months before OR after filing BK,

This is not correct. Nothing in the bk code says anything about $500 and transactions within 6 months either side of filing bk.

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