Can you get a car loan with an open chapter 13 bankruptcy?
Perhaps, but the terms will not be favorable, most especially the rate of interest. It is also a requirement when in a Chapter 13 repayment bankruptcy, that all major financial transactions have the apporval of the bankrutpcy trustee.
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go to a buy here pay here car lot with a nice down payment you will get a car. BUT ask your trustee for permission.
Answer . While in a 13, debt repayment, all major financial transactions have to be cleared with the Trustee that handled the case. The court is usually understanding in circumstances where the debtor needs a vehicle or home repairs, etc..
There is the possibility, although the probability is low. Most consumers find it impossible to get financing with an ongoing Chapter 13 bankruptcy. Usually, you need to have at least 12 months after the BK is discharged before you are lendable again. That being said; there are programs which do not… consider credit at all. Given the right broker who is experienced, and enough money, anything can be accomplished. You must also ask your Trustee for permission to assume additional debt. I found this helpful: Current Bankruptcy If you are currently in chapter 13 bankruptcy, you may be able to qualify for a home loan. In fact, some lenders can actually provide FHA loans at low interest rates for borrowers in chapter 13. Re: HUD Handbook section 4155.1 Rev-4. "A borrower paying off debts under Chapter 13 of the Bankruptcy Act may also qualify if one year of the pay-out period has elapsed and performance has been satisfactory, and the borrower also receives court approval to enter into the mortgage transaction."(http://www.emortgage.com) I am trying to use the FHA to get a home loan while in chapter 13 and I have been trying to get them to clear a house since August. I made over $80,000 last year and all the BK judge would approve for me to have in a loan was $45,000 so don't get your hopes up no matter how good you have done with the bankruptcy. I have the money taken out of my check every much so I have never missed a payment and this process is a nightmare that has made me cry night after night. The mortgage broker says I would have been better off if I have filed chapter 7. Isn't that a kick in the teeth! ANSWER I am currently in a Chapter 13. Due to divorce and my husband's bills which I got stuck with. I thought I could get some reduced rates on my bills with Chapter 13. NOT. The lawyer told me that I would be clean after bankruptcy. NOT. I would have been better off just to NOT PAY all the unsecured debt. That is what my ex did, and guess what? They laid all that debt on me. He is scott free and bought a NEW HOUSE. Even though I was NOT on his cards. We were married so I am stuck with the debt. Don't EVER declare bankruptcy. Just don't pay the unsecured debt if you can't pay it. Your credit will be trashed no matter what and unpaid unsecured debt looks better than a bankruptcy. The only one who gets rich on bankruptcy is the lawyers. I've been trying to get a loan to pay off the rest of the bankruptcy and get back to normal but I can't. My Chapter 13 takes $2500 out of my $3220 monthly pay. And I can't even fix my roof. I can barely pay for food and because I make $3220 per month I don't qualify for any aid of any kind. It's a nightmare. NEVER NEVER NEVER DECLARE BANKRUPTCY (MORE)
You can attempt to open a savings account. Whether or not the bank you apply to grants you the account depends on each institutions rules and policies.
Answer . yes, you can purchase a home while in chapter 13. However, It may be best for you to to wait until you are one day removed from bankruptcy with discharge papers. b/c you will pay a hefty interest rate. If you do this, it may be beneficial to get on a ARM with the goal to refinance w/in… 3-5 years. The goal will be to have your FICO score w/ cash reserves (2-6 mos) in good standing before refinancing. good luck (MORE)
No--one- the lenders will see the bankruptcy and ask for the discharge date, and two if the bankruptcy court finds out you are applying for credit--this could stop the whole procedure. ACTUALLY: YES you CAN! we have multiple lenders who will give you a car loan while your bankruptcy is open. Chapt…er 7 or 13. In a Chapter 13 you will need the trustee and judges permission. Go to www.WashingtonAutoCredit.com to learn more. (MORE)
Answer . If you are lucky, yes. But most likely, no lender will give you a mortgage loan if you are or have declared bankruptcy.
\n. \n Answer \n. \nIf you are asking if you can get a loan due to credit issues, then the answer is "yes" so long as your credit score and debt-to-income ratio are satisfactory to a lender.\n. \nIf you are asking if the bankruptcy court will permit it, then the answer is "maybe." You have …to petition the bankruptcy court to get any new loans during the chapter 13 case, usually by filing a "Motion to Incur New Debt" and explaining therein why you want the loan, how much it will be for, payment amount, interest rate, etc. If the court thinks it is reasonable, they will grant permission. If the court thinks it is a bad deal for you or jeopardizes your ability to pay the creditors you have, the court will deny it.\n. \nPlease note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. Thanks! (MORE)
Where can you find financing for a car loan if you are in a chapter 13 and have a letter from the bankruptcy court allowing you to incur debt in Georgia?
\n. \n. \n. \n Answer \n. \n. \nYou don't need to finance while under bankruptcy.\n. \n. \n Other Contributor Opinions \n. \n. \nThe BK 13 participant may make financial transactions with the permission of the bankruptcy trustee/court.\n. \nIt may prove difficult even with a lette…r of consent from the bankruptcy court, because any lender will be concerned about your overall financial status and whether or not the "13" will be completed.\n. \nThe best place to begin would be the banking institution where you hold an account.\n. \nBe cautious of lender's who specifically target BK partitcipants, as they often use "predatory" lending methods. (MORE)
Answer . \nMaybe.\n. \nThe court would have to give the person permission to enter into that type of financial agreement.
Answer . You would be better off buying a lower priced used car and getting your financial house in order. If you still believe you want the car back (in most cases the payments are higher than is affordable), check with the dealer and ask. The information may be in your legal packet that was …given to you. (MORE)
Not without permission from the bankruptcy trustee/court. Yes. But you will have to overcome a lot of obstacles in order to obtain one. Some lenders will approve a home loan if you are in Chapter 13 bankruptcy but only after you have paid consistently for one year and have a credit score of 620 or …above. Lenders, as a rule, will not consider a loan until you have approval from the Bankruptcy Court. You will have to ask your bankruptcy trustee for approval to get the loan. This trustee will give you an amount you are allowed to finance. Unfortunately, the amount is usually low. Here is an example: Annual income: $100,000 All payments to Bankruptcy Court have been consistent for 2 years. Credit score: 630 Amount needed to finance home: $119,000 Bankruptcy Trustee Loan Approval Amount: $65,000 Although you may qualify to receive a loan in the amount of $119,000, the bankruptcy trustee will only allow you to finance up to $65,000. If you do not have $54,000 to make up the difference.....you will not be able to purchase the home. That being said, it's worth a try. So before you start looking at houses for sale, have your attorney request the bankruptcy trustee for loan approval and what amount. At least from there you will know where you stand. (MORE)
Answer . There is no legal prohibition to getting a loan after having three Chapter 13's dismissed, though each one of those Chapter 13's had an impact on your credit rating and may influence a lender negatively in terms of both what they did to your credit score and also just the fact that thre…e times you tried and failed.\n. \nYou can always apply with a mortgage lender and see what happens. Each application may have a small affect on your credit rating too, so you can pick a couple of mortgage companies you like and give it a whirl.\n. \nPlease note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks! (MORE)
\n. \n Answer \n. \nGenerally you are supposed to get permission from the Bankruptcy Court to get a loan while you are in a Chapter 13, frequently by filing a Motion to Incur New Debt. If the court deems the loan to be reasonable and necessary, they will grant it. If it is frivolous, unnece…ssary, or unduly wastes money that could be paid to creditors, the court won't grant it.\n. \nExamples: If your car breaks down and you need a new one to get to work, the court would probably approve the new loan if it is for say $300/mo on a $6,000 car. If you try to get a $50,000 loan at $600/mo on a new Corvette, probably not since its not reasonable and necessary that you drive a Vette to work. If you try to get a loan on a second car when you have one perfectly good car, again probably not reasonable and necessary.\n. \nPlease note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks! (MORE)
That depends on the state you live in and the loan company. Talk to your lawyer about this.. ans . The bank can always agree to rewrite the loan, which is essentially what has to happen for it to be given a new interest rate. Why they would provide a bankrupt a loan, especially one at a lower rate…, I don't know. Maybe they don't want the security back, and feel they would have a greater loss by doing so and in order to prevent a loss by your BK they would rather get less on the existing one. So while you may be able to reaffirm (or get someone to give or maintain your creditability)...you cannot just decide to change the terms to what you want and reaffirm. (MORE)
If you own a home and you have made your payments on time to the bankruptcy trustee, you may be able to complete your bankruptcy very quickly. There are several thinks that must be considered. It is very important that you work with a Mortgage Lender who has a lot of experience in this type of refin…ance. If you have equity in your home you may be able to do a cashout refinance of the home and use the cash you take out to pay off the bankruptcy. Normally the best option for someone who wishes to do a cashout transaction is an FHA loan. You can get an interest rate that is aggressive and you will not have a prepayment penalty. Another factor is how long you have been in the bankruptcy. (MORE)
How can you improve your credit score after filing chapter 13 bankruptcy have no credit cards or loans and car is being paid off through court?
Building you credit can be easy. Since you filed Chapter 13, you will have to get permission to obtain additional credit.. Try one of the following ideas to build your credit:. Ask your bank or credit union about a secured credit card . You can make a deposit to your account and have a credit lim…it in the amount of your deposit. The bank takes little risk and you build credit slowly.. Use a co-signer on your first few credit accounts. Lenders will consider the co-signer's existing credit. The co-signer essentially 'vouches' for you while you build credit. Note that this is a big responsibility - you can cause major headaches for the co-signer if you don't pay as agreed. ( Use retailer programs for modestly large purchases like furniture. For example, you may buy a television on the "$40/Month Payment Plan". Gas station cards may work as well. These programs can be easier to qualify for and they certainly help you build credit. Be sure that the retailer will report your loan to the major credit reporting companies.. Get a credit card with any reputable institution that will give you one. Again, you have to make sure they'll report your timely payments to the credit reporting companies. Of course, you have to always pay at least the minimum before the due date.. All of this is to get your credit score calculated; here is the information about your credit score.. 1. Payment History (35% of score). The first thing any lender wants to know is whether you have paid your past credit accounts on time. The payment history factor of credit scoring takes into account:. Payment information on many types of accounts. These include credit cards (such as Visa, MasterCard, American Express and Discover), retail accounts (credit from stores where you do business, such as department store or gas station credit cards), installment loans (loans where you make regular payments, such as car loans), finance company accounts and mortgage loans.. Public record and collection items. These include reports of events such as bankruptcies, judgments, suits, liens, wage attachments and collection items. These are considered quite serious, although older items count less than more recent ones.. Details on late or missed payments and public record and collection items. A 30-day late payment is not as risky as a 90-day late payment, in and of itself. But recently and frequency count too. A 30-day late payment made just a month ago will count more than a 90-day late payment from five years ago. Note that closing an account on which you had previously missed a payment does not make the late payment disappear from your credit report.. How many accounts show no late payments? A good track record on most of your credit accounts will increase your credit score.. 2. Amounts Owed (30% of score). Owing money on different credit accounts does not mean you're a high-risk borrower with a low score. However, owing a great deal of money on many accounts can indicate that a person is overextended, and is more likely to make some payments late or not at all. Part of the science of scoring is determining how much is too much for a given credit profile. This factor takes into account:. The amount owed on all accounts. Even if you pay your credit cards in full every month, your credit report may show a balance on those cards. The total balance on your last statement is generally the amount that will show in your credit report.. The amount owed on all accounts, and on different types of accounts. In addition to the overall amount you owe, the score considers the amount you owe on specific types of accounts, such as credit cards and installment loans.. Whether you are showing a balance on certain types of accounts. In some cases, having a very small balance without missing a payment shows that you have managed credit responsibly, and may be slightly better than no balance at all. On the other hand, closing unused credit accounts that show zero balances and that are in good standing will not generally raise your score.. How many accounts have balances? A large number can indicate higher risk of over-extension.. How much of the total credit line is being used on credit cards and other "revolving credit" accounts. Someone closer to "maxing out" on many credit cards may have trouble making payments in the future.. How much of installment loan accounts are still owed, compared with the original loan amounts. For example, if you borrowed 3,000 to buy a car and you have paid back 3,000, you owe (with interest) more than 80% of the original loan. Paying down installment loans is a good sign that you are able and willing to manage and repay debt.. 3. Length of Credit History (15% of score). In general, a longer credit history will increase your score. However, even people with short credit histories may get high scores, depending on how the rest of the credit report looks. This factor takes into account:. How long your credit accounts have been established, in general. The score considers both the age of your oldest account and an average age of all your accounts. . How long specific credit accounts have been established. . How long it has been since you used certain accounts. . 4. New Credit (10% of score). Research shows that opening several credit accounts in a short period of time represents greater risk, especially for people who do not have a long-established credit history. This also extends to requests for credit, as indicated by "inquiries" to the credit reporting agencies (an inquiry is a request by a lender to get a copy of your credit report). This factor takes into account:. How long it has been since you opened a new account. . How many new accounts you have. . How many recent requests for credit you have made, as indicated by inquiries to the credit reporting agencies. Be assured, however, that if you request a copy of your credit report to check it for accuracy - which is always a good idea - it will not affect your score. This is considered a "consumer-initiated inquiry," not an indication that you are seeking new credit. Also, your score is unaffected by lender inquiries into your credit report for purposes of making you a "pre-approved" credit offer, or for reviewing your account with them, even though these inquiries may show up on your credit report.. Length of time since credit report inquiries were made by lenders. . Record of recent credit history following past payment problems. Re-establishing credit and making payments on time after a period of late payment behavior will help to raise a score over time.. 5. Types of Credit in Use (10% of score). This factor considers your mix of credit types: credit cards, retail accounts, installment loans, finance company accounts and mortgage loans. It also looks at the total number of accounts you have; for different credit profiles, how many is too many will vary. This means it is not necessary to have one of each type, nor is it a good idea to open credit accounts you don't intend to use. The credit mix is generally not a key factor in determining your score - unless your credit report does not have a lot of other information upon which to base a score. Why Do Credit Scores Vary? The major credit reporting agencies - Experian, Equifax and Trans Union - consider only the data in your credit report at that particular agency. Since different lenders report to different agencies, one firm may generate a different score than another one.. Below is a way of interpreting your credit score.. Given the current credit score stats, how does this relate to your own personal score? Generally, if your score is higher than 660, you will be considered a good credit risk. If your score is below 620, then you might have a tougher time getting a loan. The following ratings explain the impact of the different score ranges:. 720-850 - Excellent - This represents the best score range and best financing terms. . 700-719 - Very Good - Qualifies a person for favorable financing. . 675-699 - Average - A score in this range will usually qualify for most loans. . 620-674 - Sub-prime - May still qualify, but will pay higher interest. . 560-619 - Risky - Will have trouble obtaining a loan. . 500-559 - Very Risky - Need to work on improving your rating. (MORE)
Yes, depending on your situation. You should contact an attorney to discuss how it will effect you. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
The short answer is yes. Of course, BK or not, to sell a car that has a loan means you must pay off the loan. And, it is unlikely anyone will give you another now. That actually may be fine, and exactly the type of compromise your situation calls for now...at least for a while. You absolutely n…eed to co-ordinate any financial changes like this with your trustee. (MORE)
You CANNOT do any major purchases, sales, new debt, etc.....WITHOUT the approval of your administrator.. Do something, like RIGHT NOW, that you absolutely should have done before: All those papers that have what you generally not only agreed to, but ASKED THE COURT TO DO, and swore you would abide …by (signed and everything)...and even signed agreeing that not doing them would subject your case to dismissal and you to possible legal prosecution.......READ THEM. (MORE)
The best way, especially for a Ch 13 is to contact a local attorney. You may end up with a lower repayment plan by using an attorney as well because they understand all the exemptions that you may qualify for. If you are set on doing it yourself, contact the clerk of the local Bankruptcy Court fo…r the forms. Remember, the Clerk can NOT give you any advice. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one. (MORE)
You can apply for most anything ... but most likely one will get rejected if there are any negative marks on their credit report.. ans LEGAL? Now you care about legal. It was a legal requirement you pay all those bills you swore you would pay. Every time you signed that credit card it was mak…ing a legal agreement and covered by the laws, that you must pay. No there is nothing illegal about applying for or getting a loan or such. However, as a term of your C 13, if it is like 99% of them, you have agreed to NOT MAKE ANY new debt, or change your financial situation, without getting prior approval of the Trustee. (You know, that person who is now in charge of your financial affairs, because you failed to be and YOU asked the court to protect you...). So getting loans and such isn't against the law. But breaking the agreement you swore to with the court almost always results in the dropping of the protection 9that is the BK you requested) and most frequently is prosecuted as criminal fraud. Courts don't have a great sense of humor about being lied to. HEY, READ YOUR C 13 AGREEMENT . AND EVEN THEN DO NOTHING WITHOUT TALKING TO THE TRUSTEE. (MORE)
First you should answer some hard questions Is the car worth what you owe on it? Maybe just let it go and start over.....If you let the cars go can you deal with having only one car for a short time? Many dealers will finance bankruptcy customers and charge only higher interest rates.....Will bankru…ptcy help your family to accept their concequences and be financially responsible from this day forward? The statistics say most familys who declare bankruptcy will be in the same financial way in less than one year.... (MORE)
I'm currently in my third year of chapter 13 repayment, I was going to go back to schools full time night time program, looking for advsie on trying to pay for it, also I make over 60,000, but my chapter 13 repayment is based on this amount
While they cannot be discharged in BK, they can be incurred. But any change in financial circumstances, any new debt, MUST be approved by the BK administrator...or not only will your case be dropped, you would be subject to charges for breaking your agreement with the court. (You really should re…ad the court agreement). Normally, an adminstartor wouldn't allow new obligations (you cannot borrow your way out of debt...and you already can't pay what you've got)...however if properly presented that the education/training this debt will provide means that your "fresh start" on life that BK wants to provide, would be better for all if you had the ability to work and earn more, may be favorably recieved....but I suggest presenting it that your new education is part of your own re-evaluation of needs and to avoid ever being in this situation again. (MORE)
With or without a co-signer...you cannot get any loans, or change any of your financial resposnibilities (especially making new ones) without the approval of the administrator of your case.. Doing so, will have your case dropped and very possibly contemp of court, if not fraud charges levied...you …swore in your agreement to the court to not do so.. Don't you understand - that your in BK, you can't pay what you owe - you cannot borrow your way out of debt - any loan against the property you can't pay for already is using what could now go to someone else - someone else you owe - and should get paid before anyone else - but only isn't because you have legal protection while you do so? (MORE)
If you wreck your car after filing for Chapter 13 bankruptcy youcan file it on your insurance. You can then replace your car basedon the bankruptcy order.
Yes but if your BK and the selling of the car to satisfy the debt (and all the expenses of doing so) doesn't provide enough to satisfy the debt, the co-signer may have to pay the rest.
This question is incomplete. In most districts, you cannot incur new debt if you are a debtor in an active chapter 13 case. To refinance or incur any new debt, you have to obtain the consent of the Standing Chapter 13 Trustee in your case.
First not without approval of your trustee...you can't change any financial things without that...by agreements YOU made to have them take control of what you couldn't handle.. And in reality, you ain't finding anyone that would loan you mone really...unless they are taking advanatge of you and cha…rging an absurd rate or such.. Finally, YOUR IN BANKRUPTCY, YOU CAN'T BORROW YOURSELF OUT OF DEBT!!! And you've shown you can't pay waht you promise you will. (MORE)
It's fairly easy to buy a nice used car after you've been discharged from bankruptcy; there are companies that send mailings to these people offering them car loans. You'll pay a high rate of interest,though. Buying a nsw car or leasing a car tends to be more difficult, but if you have an income …adequate to pay off the loan, you may be able to get those, too. (MORE)
In GA Can you get your car back after a repossession if you file chapter 13 bankruptcy
Sometimes. Expect the interest rate to be high. The reason some lenders will give the loans is once a person has had a bankruptcy, they can't file again for 7 years.
A charge-off is a tax-related matter and has nothing to do with bankruptcy. The debt is still owed.
Assuming you mean, can you get a car loan if you are in a Chapter 13, the answer is yes. You must have a contract for the purchase and loan with all elements determined (no blank spaces) and then file a motion for it to be allowed. If the payments replace a prior car loan or an existing car loan, th…ere should be no problem. If your car loan payments would be significanly higher, you will have to amend your plan to show how you can afford the payments without affecting the plan. (MORE)
Depending on the circumstances, you may be able to adjust that amount or file for a chapter 7 if you're eligible.
The answer differs from one bankruptcy jurisdiction to another, so discuss it with your bankruptcy attorney. In general, student loans are unsecured loans and have to be treated as all unsecured creditors in a plan. The student loan lender cannot use its collection/garnishment powers until the case… is over. That means you may be paying the student loan lender nothing or up to full payment over the life of the plan. Few people can pay student loans off completely in 5 years or less, so interest will accumulate. When the plan ends, you will owe a lot more. In some jurisdictions, it is possible to place student loans in a separate class and treat them differently in a plan, or pay them outside the plan as a monthly expense in Schedule J. (MORE)
What do you mean by "safe"? The rental agreement or lease will not be affected by the Chapter 13, but you as a prospective landlord should make sure the rent amount is in the plan or is supported by the debtor's current income, which would have to be more than the original income. Many Chapter 13s c…rash in the first year, or before they are completed, and are converted to Chapter 7s. Check with the trustee or check the docket in the bankruptcy court to see if there have been problems. (MORE)
Can a title loan be deducted in chapter 13 bankruptcy I have a title loan on my car and am filing chapter 13 - but the trustee is objecting based on re Ransom?
Sure the trustee is objecting. Because you are making payments on your car, Ransom v. America Bank , means the amount of money you would be required to pay would be less than if you did not have a title loan. The trustee wants you to pay off the loan before you declare bankruptcy. Update: I have… not been making the payments - I thought the chapter 13 would be making the payments when I send the trustee my monthly payment. I supposed the questions is: is a title loan considered a secured loan. I would check the lending company to make sure they are getting the payment. I would not assume anything. I simply read Ransom. I do not trust trustees. If you walk in and pay the loan with a piece of paper and get a written receipt and send that receipt to the trustee and keep a copy, there can be no doubt. That way your car can not be repossessed and the trustee can not stab you in the back by not paying your loan. Then when your car is repossessed, he can not take the money that you would have used to repay your loan and have you use it to pay your other creditors. (MORE)
Chapter 13 bankruptcy, or reorganization bankruptcy is a very different type of proceeding An individual's debts are not discharged under Chapter 13 bankruptcy, but rather, the individual may lower his debt payments to affordable levels, making payment over a designated period of time. The plan for …getting out of debt is formalized and approved by the bankruptcy court. Some unsecured debt (debt that is not collateralized) may be discharged. However, if you owe more than $250,000 in unsecured debt and more than $750,000 in secured debt, you cannot reorganize under Chapter 13; you must do so under Chapter 11. To file for Chapter 13, you must have regular income and debts under those levels. (MORE)
Your question is too broad and would involve a research project. There is no existing list to fill your request. You will need to call or inquire at the various lenders' websites.
Chapter 13 bankruptcy involves filing a plan with the bankruptcy court suggesting how you will repay your debt. Some debts must be repaid in full while others require only a percentage or nothing at all. Debtors are subject to a very strict budget and repayment plan and when you are done paying all …the debts the court determined you owed, then you are discharged. This information should be in your court papers. (MORE)
No, this is not legal. When you filed the bankruptcy, you and your property are automatically protected under the "stay." The stay prevents any collections or repossession action for the duration of the bankruptcy, and will not be lifted until the BK is discharged or dismissed.
That is not how a Chapter 13 is usually described, since assets are irrelevant except to compare what a Chapter 7 would provide to unsecured creditors. But it is possible that the monthly income or the means test shows the debtor can do a plan, even though the debtor has no non-exempt assets.
Yes, they can be discharged. A chapter 13 may not be the best way to go, however. You should consider a chapter 7, if you qualify. Consult a local bankruptcy lawyer.
Whether your car loan is discharged by a bankruptcy or not will depend on your state and the equity in your car. Whether the loan will be discharged or not is called an "exemption".
If your bankruptcy is currently active, collection efforts on the student loan will cease until the bankruptcy inactive at which point collection activities will start again.
Yes, if the money is going to pay the balance of the plan, or pay 100% of all claims in the plan. Consult your bankruptcy attorney.
No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself. No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself. No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself…. No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself. (MORE)
The Chapter 13 bankruptcy law allows a debtor to keep their property and pay their debt over time, usually over a period of between three to five years.