Can you get a car loan with an open chapter 7 bankruptcy?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

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. Chapter 7 or 13. In a Chapter 13 you will need the trustee and judges permission. Go to to learn more.
53 people found this useful

Which schedule do you list student loans on in a Chapter 7 bankruptcy?

Answer . It probably doesn't matter since most student loans arenon-dischargeable (see 11 USC 523(a)(8), which says that studentloans may NOT be discharged in bankruptcy if they are "for aneducational benefit overpayment or loan made, insured or guaranteedby a governmental unit, or made under any p (MORE)

Can you get a car loan with an open chapter 13 bankruptcy?

Answer 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.

What is the earliest you can get a mortgage loan after Chapter 7 bankruptcy?

Answer . There is no legal waiting period, so theoretically you could buy a new home the day after the Chapter 7 is closed. However, every mortgage lender I have asked has said the same thing: 2 years. You could probably get one sooner than 2 years, but your interest rate might be terrible so it (MORE)

What do you do if you stopped making payments on a car loan after filing chapter 7 bankruptcy and the creditor has refused to repossess the vehicle but will not release the lien?

Answer . \nA vehicle is a secured loan and cannot be discharged in bankruptcy. If a reaffirmation agreement between the lender and the borrower is not possible the vehicle is usually repossessed. However, the lender does not have a legal obligation to recover the vehicle. The lien will not be re (MORE)

Do you have to be discharged from chapter 7 bankruptcy before you can get an unsecured loan?

As soon as you can find anyone wanting to give you a loan, you can get a loan. As you don't just have no credit, you have certifiably terrible credit and are a bad risk, those wanting to do so are typically out to charge more than even people in better financial situations than you can pay, and to t (MORE)

If you file Chapter 7 bankruptcy can you reaffirm your car loan for a lower interest rate?

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 (MORE)

Can you file chapter 7 on a car loan?

You file BK and it effects all your debts and all your assets. You do not pick and choose what you want included. A car loan is generally a secured loan, and the security maybe used to pay the debt under the bankruptcy.

Will you lose your car in Chapter 7 bankruptcy if car is paid for?

If you own your car then you'll be able to keep it if its valuefalls under your state's vehicle exemption amount. The stateexemptions vary widely and some use the federal exemption. Thefederal bankruptcy exemptions allow you to exempt up to $3,675 ofequity in your car.

When we have two car loans can you keep your cars if I file chapter thirteen bankruptcy?

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 (MORE)

You filed Chapter 7 Bankruptcy can you get a home equity loan?

Probably not...for many reasons.. First, in todays financial world, even well qualified people, with reasonable equity in their homes, and who have paid back heir other creditors on time and have no real chance of liens or judgments or losing assets have a tough time getting loans.. You are in BK. (MORE)

In Arizona can you keep your car under chapter 7 bankruptcy?

Yes you can, what you need is to show the courts that it is a requirement for your to still go to school or work. Make sure that you make out arrangements with the original creditor and keep paying on the car. You will then be allowed to keep your car as long as your payments are current.

Can you get a new car loan while paying a chapter 13 bankruptcy?

First not without approval of your can't change any financial things without 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 (MORE)

Can you file Chapter 7 Bankruptcy on a Signature Student Loan?

First, you don't file BK on a thing..a loan or a debt...YOU file BK and it effects everything you own and everything you owe. No picking and chosing.. Gov't insured or Guranteed student loans - which means most all programs - are exempt from discharge in bankruptcy. Therefore, they will not be chan (MORE)

Can you take out a 401k loan before you file bankruptcy chapter 7?

You can, but this is just about the worst thing you can do. You lose in every way!. Your 401 is protected and cannot be seized or used. If you take a loan from it, the money loses the protection and can be taken...even the deals you made with it can be reversed or considered preferential. Leaving y (MORE)

Can you keep your cars if you file chapter 7 bankruptcy?

The law actually limits it to 1 car of $500 or less...however, virtually all Judges (realizing that old amount gets a car with more troubles than solutions) simply make it a reasonable know - 3 year old Toyota OK, New Mercedes..not gonna be. If the vehicle is really a work a (MORE)

Is it possible to get an auto loan while currently in an active chapter 7 bankruptcy?

Who would loan this!? You can certainly ask someone to goive you a few hundred for a car, but no loan company would do so. This is what got the person in trouble to start with. There are very few investments worse then a car. Tell them to buy a $200 beater. I know that the current administration is (MORE)

Can you keep your car when you file a chapter 7 bankruptcy?

In the event of chapter 7 bankruptcy, you may retain possession of secured property only in the event you reaffirm with the lender. In the event no reaffirmation is signed for each piece of property, the property that has not been reaffirmed must be returned to the lender. If non-reaffirmed property (MORE)

Get a car loan with an open chapter 13?

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 (MORE)

If you file for bankruptcy chapter 7 will you lose your car?

Most clients are happy to find that Chapter 7 bankruptcy does not result in them losing their car or home. The answer to your question depends on a variety of factors. First, under the bankruptcy code, each state is given authority to choose exemptions for Chapter 7 debtors. You can view California (MORE)

Can a car loan be lower after chapter 7 discharged?

Only if the lender agrees to lower the amount due, remember that the BK discharged the promissory note; there is no legal mechanism to force the lender to lower the amount due (you are in a very weak bargaining position). If you dont make the full payments the lender is entitled to repossess the car (MORE)

Are AES Student Loans Dischargeable under Chapter 7 Bankruptcy?

All federally backed student loans are, for practical purposes, NON-DISCHARGEABLE. I say practically because the only way it would be dischargeble is if there was no way you would be in a condition to pay the loan off. Court precedent basically allows discharge if, for example, you are paralyzed fro (MORE)

Does the court frown upon too many loans in bankruptcy chapter 7?

This is a loaded question, and I must start out with the fact i am NOT an attorney. Anything like this needs to be put past a lawyer who has experience in bankruptcy. there are SO many factors involved, it's impossible to speculate. The premises of bankruptcy though is to afford people a "Fresh (MORE)

Can you keep your cars in a chapter 7 bankruptcy?

Yes, you can keep you car in chapter 7 bankruptcy. In Chapter 7 bankruptcy there are some rules. You can only file Chapter 7 if your income is below your state's median or is not enough to pay off your current debt.

How soon can a car be repoed after filing chapter 7 bankruptcy?

Because of the "automatic stay", which goes into affect as soon as a Bankruptcy is filed, your car cannot be re-possessed while the Bankruptcy is in progress (unless the creditor files a motion with the court asking for relief from the automatic stay). However, as soon as the Bankruptcy is discharge (MORE)

How do you pay off a loan that was not reaffirmed during a chapter 7 bankruptcy?

If it was a secured loan, you either reaffirm or surrender the collateral. If it was an unsecured loan you can pay it off. Do not repay in regular monthly installments or you may reinstate the debt. If it is close to the date your c 7 was closed, I do not advise you to pay it off right away. If it i (MORE)

Can you keep a new car and file chapter 7 bankruptcy?

Maybe, it depends on whether or not the debt is secured and the secured amount. If you own it free and clear, and is very valuable, it will be seized and sold by the trustee. If there is a secured creditor, but the claim is small and the car value is great, it can still be seized, with the secured c (MORE)

What is the effect of bankruptcy chapter 7 on mortgage loan?

Chapter 7 bankruptcy is also known as total bankruptcy. It's a wipeout of many (or all) of your debts. Also, it might force you to sell, or liquidate, some of your property in order to pay back some of the debt. Chapter 7 is also called "straight" or "liquidation" bankruptcy. Basically, this is the (MORE)

How long after a chapter 7 bankruptcy can someone get a car lease?

You can get a car lease immediately after filing for Chapter 7 bankruptcy. Since it would be a post-petition debt, there is no waiting period provided that you qualify income wise. Some lenders may require you to have a discharge, however, it is not required under the law to lease post-filing.