0
It may make it difficult to get low or reasonable interest rates and there will likely be added stipulations as to extra fees and penalties.
Wiki User
∙ 17y ago
Add your answer:
Earn +20 pts
How does bankruptcy affect interest rates on loans and credit cards?
It cause interest rates to rise.
How does bankruptcy affect interest rates on loans?
Some lenders may find you a higher risk and thus charge you a higher interest rate.
How did high interest rates affect savings and loans S and Ls in the 1980s?
S&L's were affected because interest rates increased. When the interest rates increased, loans were not being approved thusly becoming insolvent. This is what also caused the Ponzi scheme.
Where can one get a bankruptcy loan?
Most banks offer bankruptcy loans to individually who have filed for protection; depending on which type of bankruptcy an individual has filed the interest rates could be as high as 10%. Smaller lenders and local banks will be more willing to work with small businesses to help pay back debts and nullify the bankruptcy.
How long does bankruptcy in the UK last?
Nowadays bankruptcy usually lasts about a year. Once your bankruptcy is discharged you will be free to start re-building your debt free life. You will probably find it almost impossible to get unsecured credit for a number of years. Mortgages are more available, but the rates will be higher. It pays to shop around, because the rates on adverse credit loans can vary widely.
How does bankruptcy affect interest rates on loans and credit cards?
It cause interest rates to rise.
How does bankruptcy affect interest rates on loans?
Some lenders may find you a higher risk and thus charge you a higher interest rate.
How does my poor credit and or bankruptcy affect my children getting student loans?
It does not affect them.
Auto Loans for Bankruptcy?
Take any offer for auto loans for bankruptcy with many grains of salt. Very few lenders will lend any money to anyone who has recently declared bankruptcy, and any lenders that do offer such loans will do so at very high interest rates with very high penalties for late payment and default. Since you cannot declare bankruptcy again if you default on a loan soon after bankruptcy, auto loans for bankruptcy are risky for you but very profitable for unscrupulous lenders who prey on bankrupt individuals and entice them to take out loans before they have a chance to rebuild.
Which bank offers the best rates on home equity loans for those going through bankruptcy?
Lending Tree is a website that allows one to compare the best rates that banks will offer on home equity loans for bankrupt individuals. Bankrate also provides similar services.
Do student loans automatically come with filing bankruptcy?
Federal Student loans cannot be discharged in bankruptcy. You must repay them.
How did high interest rates affect savings and loans S and Ls in the 1980s?
S&L's were affected because interest rates increased. When the interest rates increased, loans were not being approved thusly becoming insolvent. This is what also caused the Ponzi scheme.
Will a bankruptcy affect your auto insurance rates?
I don't actually work for an insurance company, but I do know that credit can affect your rates (bad credit = worse rates). Insurance, after all, bases its life on risk: the riskier they think you are as a client, the higher your rates. Credit is the same way, so it only makes sense that a bankruptcy would increase your auto insurance rates. Yes, bankruptcy will affect your insurance rates. I have Erie insurance and my rates did go up quite a bit. My home insurance more than my auto insurance. I had only filed one claim on my home insurance in 27 years and never late in payment and yet my rated jumped almost $200. I was told this was because of the bankruptcy. I recommend you this site where you can compare quotes from different companies: insureinfo.us
Where can one get a bankruptcy auto loan?
Most banks will not offer auto loans for people who are facing bankruptcy. It is a very bad idea for a bank to offer any kind of loan to someone who cannot pay it back.
Where can one get a bankruptcy loan?
Most banks offer bankruptcy loans to individually who have filed for protection; depending on which type of bankruptcy an individual has filed the interest rates could be as high as 10%. Smaller lenders and local banks will be more willing to work with small businesses to help pay back debts and nullify the bankruptcy.
How long does bankruptcy in the UK last?
Nowadays bankruptcy usually lasts about a year. Once your bankruptcy is discharged you will be free to start re-building your debt free life. You will probably find it almost impossible to get unsecured credit for a number of years. Mortgages are more available, but the rates will be higher. It pays to shop around, because the rates on adverse credit loans can vary widely.
Can you have two car loans after a bankruptcy?
yes
