"Buying A Car After Chapter 7" Discussion

Upsolve Community Member
This is such a great question, Latrisha, and lots of people wonder this. A lot of the time- it's easier than people expect- but there's important factors to consider before filing! 

Upsolve Community Member
This article is a really good place to start- https://upsolve.org/learn/housing-jobs-and-benefits-after-bankruptcy/

Upsolve Community Member
Let us know what other questions you have after reading! 

Upsolve Community Member
Hi Susan, First you will need to determine https://upsolve.org/learn/should-i-file-for-chapter-7-bankruptcy/ you. Here's a 10-Step Guide on how to prepare for bankruptcy and get a fresh start: https://upsolve.org/learn/how-to-file-bankruptcy/Also know that most people can keep their car and get debt relief by filing bankruptcy. Here is an Upsolve Article that covers this topic: https://upsolve.org/learn/can-keep-car-file-bankruptcy/

Upsolve Community Member
Susan, I am over 65. As a former Upsolve user discharged in 2020, I can't advise you in any way nor am I an Attorney. From my education, however, your statement, "I am buying a house" and "considering bankruptcy" is like oil and water. I don't know your financial situation, your employment, or have your credit reports in my hands, but make sure you understand ALL OPTIONS and, if you want to buy a house, pay close attention! Good luck on whatever you decide! :-)

Upsolve Community Member
The Upsolve software isn't a good fit for a homeowner, but our Community will be here to help with any questions along the way. Glad you're here and aksing. 

Upsolve Community Member
Hi Charity! I am a discharged Upsolver and used Upsolve's Learning Center a lot while filing. This is a common scenario. Perhaps this HELP article on https://help.upsolve.org/hc/en-us/articles/360056759173-Income-from-Contributions might help you in seeing how shared expenses are treated. I'm also including an article from the Upsolve Learning Center on https://upsolve.org/learn/how-to-file-bankruptcy-after-divorce/ I hope these articles help! :-)

Upsolve Community Member
I just was able to get discharged after filing a ch 7 that included a reaffirmation agreement for one car. Explain to the the car lender in agreement form (the 403b, i think?) exactly how you pay for the car and lease. Once you put that in you may have to wait depending on how the courts backlogs are. I had to wait about 4 months more than usual. 

Upsolve Community Member
Charity, thanks so much for asking! Generally speaking, it's possible to explain certain confusing situations to the trustee.

Upsolve Community Member
If they ask, you can explain the situation! This might also help: https://upsolve.org/learn/trustee-review-bank-statements/ 

Upsolve Community Member
Repoed vehicles make it hard to get around. The Upsolve article https://upsolve.org/learn/buying-a-car-after-repossession/ talks about getting a repoed vehicle back and how reaffirmation agreements in bankruptcy work with repoed vehicles. 

Upsolve Community Member
Thanks for asking about this. We have some free articles that may help you- like the one Jacky shared! This one might also help https://upsolve.org/learn/should-i-file-bankruptcy-after-repo/

Upsolve Community Member
Keep asking if you have more questions about this. We want to help however we can! 

Upsolve Community Member
Hi Quan, Here are a couple articles to help you out: https://upsolve.org/learn/pros-cons-filing-chapter-7-bankruptcy/ and this one regarding https://upsolve.org/learn/buying-house-after-bankruptcy/

Upsolve Community Member
Quan, you might also be interested in reading https://upsolve.org/learn/how-long-bankruptcy-on-credit-report/. 

Upsolve Community Member
Please let us know if you have any other questions!