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Getting a loan after bankruptcy can be difficult depending on what type of bankruptcy one files. A Chapter 13 bankruptcy, one cannot even apply for credit during the length of the bankruptcy. In a Chapter 7 bankruptcy, that is a different story. One can file Chapter 7 bankruptcy and as soon as it is discharged can apply for credit. The only problem with getting a loan after bankruptcy is that you may have to have a co-signer until you build up some positive credit.
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∙ 10y ago
Victoria City Lahor...
Akeba Walcott
One way to improve your chances of qualifying for a personal loan after bankruptcy is to find a co-signer.
A co-signer with good to excellent credit and sufficient income can boost your approval chances for a personal loan. You might also be able to secure a lower interest rate than you would have without one.
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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 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 is an unsecured loan used for?
The difference between an unsecured loan and a secured loan is very big if for some reason bankruptcy is declared or the loan cannot pay repaid. Secured means that the buyer still needs to repay and unsecured mean he doesn't if bankruptcy is declared.
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.
How can someone with bad credit get a home loan?
The Federal Housing Administration can assist people with bed credit get a home loan. They have programs available for people who have declared bankruptcy or have a foreclosed property.
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 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 is an unsecured loan used for?
The difference between an unsecured loan and a secured loan is very big if for some reason bankruptcy is declared or the loan cannot pay repaid. Secured means that the buyer still needs to repay and unsecured mean he doesn't if bankruptcy is declared.
when will a person be egible for a fha loan after having been in bankruptcy?
To receive a FHA loan after one has declared bankruptcy one has to meet the following minimum requirements: payment on the bankruptcy for at least one year, court approval to enter into the mortgage transaction, and a minimum of two years waiting period from the date of discharge before he or she can apply for the loan.
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.
You declared bankruptcy a year ago it has been discharged can you rent to own a home?
Yes. You can buy one too. But getting a loan may still well be impossible.
How old was Michael Jackson when he declared bankruptcy?
He never declared bankruptcy.
Where can someone go to obtain a bankruptcy home loan?
To obtain a bankruptcy home loan one could make an appointment with their local bank to talk to an advisor. One could also make an appointment with a bankruptcy lawyer.
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.
How can someone with bad credit get a home loan?
The Federal Housing Administration can assist people with bed credit get a home loan. They have programs available for people who have declared bankruptcy or have a foreclosed property.
If your wife included a joint car loan in her bankruptcy but you did not file bankruptcy are you still liable for that loan?
You will be responsible for the whole debt since you are the only one capable of paying the debt after your wife's bankruptcy.
What companies have filed bankruptcy in Michigan?
While many small companies (mom and pop) business have declared bankruptcy the biggest is GENERAL MOTORS who declared bankruptcy.
