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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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im in my 40th month of chapter 13 bankrupacy repayment 60 month

Customer Question

im in my 40th month of chapter 13 bankrupacy repayment 60 month plan in new york.can i get a car loan without trustte approval?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.
Welcome to JustAnswer,

So sorry to hear of this dilemma. If my answer is not clear to you, please ask me for clarification by using the reply button.

No you cannot. A chapter 13 debtor requires court approval in order to obtain any type of loan or credit. This is true even though you are more than halfway through your plan.


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Customer: replied 5 years ago.
what if bank approves me and i dont tell trustee?can i do that?
Expert:  Ellen replied 5 years ago.
Not legally. Also the bank will not extend the loan if they are aware of the 13
Customer: replied 5 years ago.
they are aware of the 13 and are willing to give loan.so if i stay up on my bankrupacy payments there shouldnt be a problem right?
Expert:  Ellen replied 5 years ago.
yes that is correct
Customer: replied 5 years ago.
so i can take the loan without trustee approval and it wont effect my case if i stay up on all payments?i cant get in trouble?
Expert:  Ellen replied 5 years ago.
You cannot get into trouble if you do not fall behind. However I am shocked that the bank is lending you money after you disclosed your bankruptcy
Customer: replied 5 years ago.
they are a credit union that will draw directly from my paycheck.i also have gotten credit cards while in bankrupacy.can i get in trouble for that or im ok if i keep up with my bankrupacy payment?
Expert:  Ellen replied 5 years ago.
I will reiterate that you are not permitted to receive extensions of credit while in a chapter 13 bankruptcy without bankruptcy court approval. That said, provided you may make all your bankruptcy court payments it should not become an issue
Customer: replied 5 years ago.
so if trustte finds out it will not be a problem as long as i dont miss a payment?they dont run my credit on the last payment?do i have to go to court on last payment of plan or do they just send a letter?
Customer: replied 5 years ago.
hello
Customer: replied 5 years ago.
hello you never got back to me
Expert:  Ellen replied 5 years ago.
I was not on line when you forwarded your additional questions. It typically would not be a problem as long as you do not miss. a payment. I do not know for trustee runs a credit check at the termination of the chapter 13