The Kansas City metropolitan area is vast, and the only mode of public transportation for Kansas City residents is the bus system.  However, the bus system does not reach all areas of the metropolitan area, so most people rely on automobiles to get from point A to point B.  Having a car is more of a necessity than a luxury for individuals living throughout greater Kansas City.  Not having a car can be extremely frustrating, especially in cases where you are not able to find alternative transportation.  Carpooling is a wonderful option for many people, but not everyone has this option available to them.  If you are currently in Chapter 7 or Chapter 13 bankruptcy proceedings, and you do not have a car, it may be very difficult for you to purchase or lease a car, depending on your unique financial circumstances.

Getting Trustee and Court Approval

While the purpose of bankruptcy is to eliminate debt, there is also a consensus and understanding that owning a car is a necessity to get to work, school, the grocery store, and other places for many people.  As such, you may be able to purchase or lease a car so long as you get approval from the Trust and the Court overseeing your bankruptcy proceeding.  The difficulty with purchasing or leasing a car during bankruptcy is that you may have trouble getting approval for a car loan or lease given that you have a pending bankruptcy matter.  If you have cash on hand, or can borrow money from a friend or relative to purchase a car, this is one of the better options to get a car during your bankruptcy proceeding.

One very important thing to keep in mind is that the Trustee will want to ensure you are purchasing or leasing a car that is within your financial means.  For example, if you try to lease a luxury car that is somewhat expensive, the Trustee will frown upon this, as it demonstrates your focus is not on the need for transportation, but the desire to drive a nice car.  We would all love to be driving a Mercedes, but it is simply not realistic to drive an expensive car when you are trying to eliminate your debt.  Your bankruptcy Trustee would not approve the purchase or lease of a car like a Mercedes.  It is best to find a car that is rather inexpensive, but still safe.  There are many lease deals that are manageable for employed individuals currently involved in a bankruptcy proceeding, and a Trustee is likely to approve the purchase or lease of a car if it can be mathematically determined that you have the financial ability to take on the cost.

Contact Kansas City Bankruptcy Attorney Douglas Breyfogle to Schedule a Free Consultation

 If you are currently in bankruptcy proceedings and wish to purchase or lease a car, you should consider speaking with an attorney to discuss the options available to you.  While no two financial situations or bankruptcy cases are alike, a seasoned Kansas City Bankruptcy Attorney can utilize all available resources to guide you in the right direction.  With more than twenty years of experience, Kansas City Bankruptcy Attorney Douglas Breyfogle devotes his law practice to helping individuals and businesses face and overcome financial difficulties.  No matter how small or large your debt may be, you do have options available that will best suit your financial situation.  If you would like to speak with Douglas Breyfogle about your current bankruptcy proceedings or any other financial matter, please contact our office today to schedule your free consultation by calling (913) 742-8700.