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Can a person discharged from chapter 7 bankruptcy purchase real property after discharge?
Wiki User
∙ 13y ago
Unlikely, because no lender will give the person a mortgage. There is no legal barrier to buying real property if the person can get the funding.
Wiki User
∙ 13y ago
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Are you able to purchase anything after being discharged?
Purchase from where, and discharged from where? If this is a military question, it's circumstantial. A regular honorable discharge due to ETS, no. A disability discharge, you MIGHT be able to retain some PX/Commisary privileges. Same with retirement.
If you are in bankruptcy can you still purchase a new or used car?
If it is chapter 7 and has not been discharged then, no. If it is a chapter 13 then the bankruptcy filer would need the permissin of the trustee to make any major financial transactions.
Is it legal for a collection agency to purchase an account that has been discharged in Chapter 7 and report it as a charged off account?
As a general rule, "No". You need to be certain that the debt was actually discharged in the bankruptcy. If so, you should contact the attorney that handled the BK and have them forward the necessary information to the collection agency. Or you can send the documents yourself (COPIES of the discharge, etc.) and send them by registered mail to the agency.
Can you sell your house while in bankruptcy?
You cannot sell your property during a bankruptcy proceeding. If a bona-fide offer is made to purchase the property a motion is filed for permission to sell. If allowed, an order is issued by the court that frees the property from the bankruptcy so it may be sold free and clear of your bankruptcy by the trustee. The proceeds from the sale will then be controlled by the trustee in bankruptcy.
How long after your bankruptcy has been discharged can you purchase a home?
my brother filed then got married she has good credit but no job. they bought one a year after he filed but had to have a large down payment.
How do you purchase two vehicles after chapter 7 bankcuptcy discharge?
You purchase two vehicles any way you can. Since the bankruptcy has already been discharged, you are under no obligation to the courts anymore. Basically, you are free and clear to continue with business as usual. So, either pay cash for them or attempt to get financing, whichever way you find adventageous to your situation. If you are asking about obtaining credit? I have known many people that, once the Chap 7 bankruptcy was discharged, they had no problem getting credit as the credit companies knew they could not file bankrtupcy for another 7 years, so they were basically protected and knew they would get their payment one way or another.
Can you get an auto loan after filing for bankruptcy but before it is discharged?
Yes, you can get an auto loan before bankruptcy discharge. If you have filed a chapter 13 bankruptcy, you must receive permission from the court trustee. Contact your attorney to begin the process. The court will set limits as to maximum loan amount and monthly payments. DO NOT apply for a loan of any type before getting approval from the court! Doing so could be grounds for dismissal of your bankruptcy, depending on the regulations of your particular court district. If you have filed a chapter 7, there are certain automotive lenders who will finance you after you have attended the (sect. 341) meeting of creditors. However, if you are unable to find one of these lenders, your discharge is usually granted within a few weeks of the 341 meeting and you will be able to purchase then.
Where can you find financing to purchase an RV after bankruptcy?
where can you find financing to purchase an Rv after bankruptcy?
What will the loan rate be on a mortgage if you have a 628 credit score but you declared bankruptcy 5 years ago and you now have a 0 balance on all credit cards and an income of 64k?
My only question would be what type of bankruptcy did you file and was is discharged? I would be able to qualify you but i'd also need to know how much financing are you looking for, do you need 100%, how much is the property you are looking to purchase? Do you currently own any property? If you're looking to buy a single family property that you will occupy then you should qualify for a very good rate depending on what LTV ratio you are looking to finance.
Can you purchase a home if your bankruptcy isn't discharged yet?
Only if you go through the Trustee and in that case you have to show how you came up with the money and risk the Trustee wanting to use that for creditors. Also, while you're going through a BK, no one will really give you a good rate or a loan without the Trustee's approval or discharge so it would be a waste of time.
Can a wife deed a half interest of her solely owned real property to her spouse without the approval of the chapter 13 bankruptcy trustee?
No. All transfers, sale, purchase of property or any major financial transaction must have the consent of the trustee in charge of the chapter 13 bankruptcy. The state of residency is not relevant, nor whether it is a federal or state bankruptcy.
Is their a law saying you cant purchase a travel trailer after bankruptcy?
AFTER your BK is discharged....you have a fresh start to do what you want without restrictions. You should of course, take the lessons learned from the experience and not go back into a debt spiral.
