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After filing for bankruptcy in Canada you may borrow money. The risk is borne by the creditor. During bankruptcy, after filing but prior to being discharged, you may obtain credit with a value of up to $1,000. without advising the creditor of your bankruptcy. Should you seek to borrow more than $1,000 you are obliged to advise the lender that you have filed for bankruptcy.
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∙ 14y ago
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You owe your sister money can you file bankruptcy on that loan?
If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.
What is a reaffirmed loan?
A "reaffirmed loan" is a loan that the claimant in a bankruptcy has left out of the bankruptcy and is "reaffirming" that they will still pay the loan as usual.
Can you file for bankruptcy and not default on a title loan?
Yes. With the lender's permission, you can reaffirm the loan at the time your bankruptcy is executed.
What is meant by student loan bankruptcy?
Student loan bankruptcy happens when a student has not been a student for the last 7 years and declares bankruptcy. For more information please contact a student loan office.
Will your wife have to pay if you file bankruptcy?
If her name is on a loan that you file bankruptcy on than she would then be responsible for that loan. Filing a bankruptcy only gets your name off the loan(s), you would both need to file together.
What is loan reconcillation?
When you file bankruptcy, you may wish to reconcile a loan. Basically, it's a loan that you have that you don't want to file bankruptcy on. You intend to keep paying it as normal, while still declaring bankruptcy on other loans.
Student loan after bankruptcy?
You pay it.
Can you get a mortgage loan if you are in a chapter 13 bankruptcy?
If you are lucky, yes. But most likely, no lender will give you a mortgage loan if you are or have declared bankruptcy.
What are the rules for bankruptcy in Canada?
For the rules for bankruptcy in Canada you can check Wikipedia or Bankruptcy Canada. It is also a good idea to check with a debt solutions company or your accountant.
Can you apply for a student loan after a filing for bankruptcy?
Only if the bankruptcy is currently discharged.
How can one get a car loan after bankruptcy?
There are a number of places one may be able to get a loan to purchase a car after declaring bankruptcy. Depending on how long ago the bankruptcy was declared, a number of banks and credit unions may offer one a loan.
Can you get a loan with bad credit because of bankruptcy?
Yes, you can still get a loan even if you have bad credit from a bankruptcy. Everyone deserves a second chance.
