Value of car

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Kay

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Value of car
« on: June 14, 2018, 07:16:36 AM »

*i have posted this in “considering bankruptcy too, but thought to get some idea here as well, as I want to figure out so many things in a shor time” please reply. *

Hello
My last post was flooded with spam messages and I could not get any answer.
We will be signing our papers next wednesday. We r in Manitoba province where you are allowed to keep a vehicle of up to $3000 value. My question:

1. Can we buy a car after signing for bankruptcy?

2. My family would support me with the cash required to buy the car as I need the car for my job and personal use.

3. My imp question that I have not been able to get the answer of is, how is the value of the car determined? Does the trustee go through proper valuation process of the car? Or they just ask for the buying/selling receipt of the car?

4. What is the best, buying before bankruptcy or buying during bankruptcy?

5. How do we justify the discretionary expenses? I understand that we do need to provide the receipts of the discretionary expenses e.g medical expenses, child support payment etc. Should we keep the keep the receipts of each and everything that we buy, lets say grocery, mobile top up cards, clothes etc?

6. Is it possible to get a secured credit card right after filling for bankruptcy? If yes, then do we need to let our trustee know that from where did we get the money for deposit?

Please please answer my questions in the same order. I understand that talking to the trustee is the best option, but I want to hear from the people who have had the experience.
Thanks

 

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