Q: I have filed chapter 7 in April 2017 and it has not been finalized yet. I wanted to know is it ok to buy a car for $550
my concern is can it be taken by the trustee. I will own it out right, no car payments.
A: The bankruptcy trustee would not be looking at a car you purchased after you filed the bankruptcy case. It would not be property of the bankruptcy estate which is everything you have before you filed the chapter 7. There are exceptions to this rule but they do not involve a vehicle purchase. Good luck!
A: There should be no problem with you buying a car at this point as it is not an asset of the case/estate.
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