310.376.9865
An interesting examination today. The trustee was reviewing a debtor’s petition, and noticed they had four new cars. The trustee inquired when did they purchase the four cars. The debtors had purchased the cars within the past 12 months prior to filing bankruptcy.
When the debtors couldn’t explain why they were given credit to finance the purchase of 4 new cars, the trustee requested the debtors provide the purchase agreement and financing statements.
I would guess the trustee will be looking at the financing statements to see if there are any contradictions with the bankruptcy petition.
If you think bankruptcy is in your future, first, I don’t think the purchase and financing of 4 new cars is advisable, second make sure any information you provide for financing will be consistent with any information on your bankruptcy petition.
A Debt Relief Agency
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865
