If I file for bankruptcy, can they take my car?

Answers:0   |   LastUpdateAt:2012-08-22 11:50:03  

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Sawha
Asked at 2012-08-22 11:50:03
Please help . I need advice . I'm thinking of buying a car from someone for $ 1100 this week , because I have no way to get to work and he needs the money ASAP or you will lose the opportunity . I have horrible credit ( or it would be financed through a car company ) and am thinking of filing for bankruptcy ( for the first time ) in the coming months ( due to the many , many things will collections ) . MedlinePlus MedlinePlus I realized today that if I buy this car and then file bankruptcy ( Chapter 7) , you may be able to take my car , but it's worth maybe $ 1000 ( this is a '96 Jeep Cherokee ) . Then I thought, well , what if I try to get a loan through a bank to pay for it ? I only make about $ 1300/month ( when it comes to a lot of overtime) , so I can not afford to pay a person unless I get a loan of some kind. MedlinePlus MedlinePlus My question is , if I can get a loan , buy the car and then declare bankruptcy , can they take my car ? MedlinePlus MedlinePlus Or if you somehow get the money and buy the car and then declare bankruptcy , can they take my car ? Like I said, not worth much . MedlinePlus MedlinePlus Any advice would be greatly appreciated. Thank you.
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