Is It Possible to Buy a Car During a Bankruptcy in Fort Worth?

The court has ruled that the Chapter 13 bankruptcy will take three years to complete. In the best case scenario, the family car will hold out that long. If it does fail and the cost of making repairs is prohibitive, that means the debtor will need to find a way to replace it. Fortunately, there are ways to buy a car while in the middle of a Bankruptcy in Fort Worth. Here are two possible ways to proceed.

Talk With the Trustee

Many people assume that incurring more debt while in a Chapter 13 bankruptcy is out of the question. It’s true that the court frowns upon the accumulation of more debt without a good reason. Since the debtor does need reliable transportation in order to get to and from work, the court is likely to allow the individual to seek financing for a reasonably priced vehicle.

Part of presenting the request to the trustee involves demonstrating how the monthly car payment can be added to the present budget. If the new obligation can be managed by adjusting the other line items and will not impact the ability to keep making payments to the court, the trustee is likely to grant permission for the purchase. Even if financing a reasonably priced used car would mean making some minor adjustments in the amount sent to the court each month, the trustee may still approve the arrangement. Visit to website and arrange for an attorney to aid in preparing the request. Doing so will ensure it’s structured in line with the court’s requirements.

Pay Cash

While bankruptcy laws vary from one district court to the next, most do not prohibits essential purchases made with cash. That includes buying a decent used car to take the place of the old family clunker. If it’s possible to use public transportation for awhile and save enough money to buy a used vehicle, consider this option carefully. Since it will be a cash transaction, there is no need to obtain permission from the court.

Buying a replacement vehicle while in the middle of a Bankruptcy in Fort Worth is not impossible. Take a good look at the situation and determine which approach offers the best chance for success. The right choice will ensure that the debtor remains in the good graces of the court.

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