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Vehicle Loans Prior to Bankruptcy

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  • 01-01-2012, 02:59 PM
    alkasalsa
    Re: Vehicle Loans Prior to Bankruptcy
    I'm not purchasing a bunch of things on credit. We have 2 old vehicles, one with 197,000 miles and one with 200,000. We were told it was in our best interest to purchase vehicles, keeping under the allowance of $496.00 and make sure they last the balance of the chapter 13(in our case will be 5 years.)

    As far as operating allowances. Our current old vehicles, one gets 13 miles to the gallon and the other 17. The car I just got averages 30 mpg, but of course insurance will be more.

    Frankly, I would have just preferred to keep the vehicles we have, and just let us have some extra money in the plan. But it doesn't work that way.

    Not asking for any allowance for the car my daughter drives. I just hope I get a good plan and can help her out.
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