Legal Question in Bankruptcy in North Carolina

I am in Chapter 13 since May, 2013. I need to get a new used car and have been denied except for one that offered 10.5% interest-too much. I completed paperwork to borrow money from my 403b but did not know at the time that I wasn't supposed to even do that without the courts okay. I have the check but haven't deposited it yet as I am afraid I will be in trouble. I have no other alternatives to get transportation and really need to deposit this check. Could you tell me if I would face problems if I use this money? I told my attorney over a month ago and left another message this past weekend as I need to have reliable transportation to get back and forth to help my elderly parents in another state and I have not heard from him at all. I need to get this car within the next 2 weeks. I am so scared I'm going to be in trouble. Thanks for any advice you can give me.

Asked on 7/23/13, 12:10 pm

2 Answers from Attorneys

Kenneth Love Ken Love Law

You need to visit your attorney and demand he speak to you. If this fails, speak to your Chapter 13 trustee and explain what you need to do and that you are trying to get a motion to incur debt filed.

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Answered on 7/23/13, 12:14 pm

Charles Andersen Charles Andersen, Atty

You can't incurr new debt without the permission of the Trustee, However you could make a withdrawal from a retirement account to do so, so long as it is not a loan off the account.

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Answered on 7/24/13, 9:15 pm

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