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How do you get a car loan with an open bankruptcy a total loss car and no co-signer?
Wiki User
∙ 8y ago
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.
Wiki User
∙ 8y ago
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Can you get a bank loan after bankruptcy?
It is very risky and difficult for one to get a bank loan after going bankrupt.But you can actually go for a loan considering what kind of business or project thefund is to be invested on. Besides before this loan can be granted to you, theyhave to be collaterals and security measures put in place outside the otherbusiness collaterals that led to your bankruptcy in order to prevent reoccurrence or loss.
What happens to unused loan loss reserves?
Unused loan loss reserves represent an overestimation of the bad loans on the books. Ultimately, the unused loan loss reserves would be taken into income
What is loan loss reserves coverage ratio?
On the high side 15 bips of the loan amount should be set aside for loan loss reserves. example a $100,000. loan amount $150.00 should be set aside for the llr.
Why is a loan a liability for a bank?
The person or business may not pay the loan back and the bank has to take the loss
What does Loan Loss allowance mean?
Amount of money that a bank might lose because of its loan not being fully repaid.
Can you get a bank loan after bankruptcy?
It is very risky and difficult for one to get a bank loan after going bankrupt.But you can actually go for a loan considering what kind of business or project thefund is to be invested on. Besides before this loan can be granted to you, theyhave to be collaterals and security measures put in place outside the otherbusiness collaterals that led to your bankruptcy in order to prevent reoccurrence or loss.
How are loan loss provision and loan loss reserve recorded?
ojkpk
What happens to unused loan loss reserves?
Unused loan loss reserves represent an overestimation of the bad loans on the books. Ultimately, the unused loan loss reserves would be taken into income
What is the difference between Loan Loss Reserves and Loan Loss Provisions?
loan loss reserve: loans are going to default so banks use part of provision to book reserve. loan loss provisions: percertage of gross loans that all banks have to keep in their balance sheet as regulated
Do provisions for loan loss go in the balance sheet or profit and loss?
Profit and Loss.
What is loan loss reserves coverage ratio?
On the high side 15 bips of the loan amount should be set aside for loan loss reserves. example a $100,000. loan amount $150.00 should be set aside for the llr.
Does a cosigner have any liability if the owner of vehicle has an accident?
You are certainly responsible for the actions of primary to the extent of the loan. No. In no way could a person be held legally responsible for an accident on grounds that they were the cosigner of the loan that procured the vehicle. You are neither responsible, and the other side of the issue, nor at any particular risk of loss. Even if the owner is entirely liable, and unresponsible to the degree of not having insurance or other assets to pay for damages they caused, any judgment against them would probably try to get other $ first, and could only try and get to the equity, that is the amount of value above the amount of the secured loan on the car, if any, AFTER paying off the secured creditor - which is the loan you co-signed, releaving you of any responsibility. But, it would make just as much sense, and maybe more, for someone to sue the bank that made the loan as to try and get you, a co-signer of the loan, involved.
Why is a loan a liability for a bank?
The person or business may not pay the loan back and the bank has to take the loss
Does gap insurance on you car expire?
GAP insurance helps cover the difference if your car is deemed a total loss and is worth less than what you owe on the loan. GAP insurance only runs out when you pay down your loan enough that you have equity in the vehicle.
What is the duration of Total Loss?
The duration of Total Loss is 1.58 hours.
Paying for a car but it was charged off. the car was not re-affirmed but was included in chapter 7 bankruptcy?
The fact it was charged off means nothing to you...it is simply an accounting entry by the lender so his financial reports record the loss on the loan. You still owe it and they have the right to collect it.
What does Loan Loss allowance mean?
Amount of money that a bank might lose because of its loan not being fully repaid.
