0
How soon can you borrow money from your bank after being discharged from a bankruptcy?
Wiki User
∙ 18y ago
If you can find a foolish banker, yes. If not, try a grant of some sort. Charities that help you get your life back on track, welfare agencies.
If you are still in C 13, you must speak to your trustee about getting any new debt or changing anything financial...or your case will be dismissed and you may be charged with fraud. Otherwise, anyone can lend to anyone they want. most lenders will not lend to people who have been BK for several years, and charge much higher interest rates when they do. Also, you may want to consider the definition of insanity is sometimes said to doing the same thing you have done and expecting a different result. Remember what happened the last time you were in debt? should be clear by now, if you can't afford your lifestyle without it...you really can't afford life with debt!
Wiki User
∙ 16y ago
Wiki User
∙ 8y agoLEGALLY: Chapter 7: Day after you file. Chapter 13: Day after you file with permission from the Trustee and court.
IN THE REAL WORLD: Depends on other things on your credit, income, etc. I'm sure if you look hard enough though you can get a loan for any amount the day after somewhere.
The issue here is... WHY would you get a loan right after you filed bankruptcy unless its for a car or house.
Wiki User
∙ 18y agoThat's completely up to the lending institution. Most reputable lenders require at least 12 months of responsible credit history. The consumer should always be cautious of predatory lenders offering deals that are always going to be "too good to be true".
Wiki User
∙ 16y agoAnyone can give a loan to someone at anytime, in or out of Bankruptcy. Simply: Having a recent (or any) bankruptcy and the normally bad credit that led to it, makes getting a loan much more difficult. Most quality lenders will not consider it. Borrowing from other lenders mean you pay much more. As someone who has shown your financial inability by having a bankruptcy you really need to consider if you should go down that path again. Being able to get a loan is MUCH DIFFERENT than being able to afford to pay the loan.....if you can't do the last thing...then you shouldn't do the first thing. Start with the fact that someone who could otherwise afford a loan, probably wouldn't agree to accept one with the terms your going to be offered!
Wiki User
∙ 15y agoGiving a loan or mortgage is at every lenders discretion, but I suspect very unlikely.
New mortgage, new debt, an obligation to pay as agreed? Well, real tough - not impossible and certainly may depend on your downpayment. Especially with the concerns over subprime lending in todays market (which you by being in or recent BK more than likely would be under most any view). You would have to expect that you would pay a very high interest rate, likely making it something even people with stronger financial ability wouldn't consider. (Guess why?)
If your C 13 isn't closed you would need to discuss anything your doing with the BK trustee. Entering into a refinance or any financial contract without his explicit approval will end BK protection, and is sometimes prosecuted as fraud. Certainly, if it means you would have less disposable income to use toward your outstanding debt, he would have rightful objections.
And consider....your in or required BK, presumably because you had more debt than you could pay, and you haven't been able to handle finances very well.....you should have learned you cannot borrow your way out of debt, and understand that even after clearing some in BK, you can sure find yourself in over your head again.
Wiki User
∙ 15y agoCredit decisions are the option of every lender...but your going to be hard pressed to find on that would give you a loan...and no that you didn't pay those that agreed to give you one before...why would they. Obviously, now that you did BK, our finances are in great shape...you can't need it, unless your still living well above you means.
Wiki User
∙ 14y agoOnce the bankruptcy is dismissed or discharged it is quite acceptable to file for a new loan. In fact once your chapter 7 or chapter 11/13 is discharged, lending institutions will be lining up to loan you money. The potential of getting a loan approved if your bankruptcy is dismissed is extremely remote however. Considering the reasons for filing bankruptcy might be a good pre-loan application exercise though.
Wiki User
∙ 11y agohello, i am merimu bujuham from USA. There is a large number of people out there saying "I need a personal loan quick but I have bad credit", and they have no idea where to go to get a loan. They know one thing for sure - they're not going to get none from their local banks, because banks are hesitant about lending money to people with bad credit. If you are one of them, you'r win the right place to get a quick personal loan in the next hour or so. this is one of the best ways of obtaining quick cash without credit check, no collateral, no cosigner is needed, so i will advise you to cantact them via email: admin@konomarkloanfirm.cu.cc
Wiki User
∙ 14y agoAbsolutely, and many other secured items as well.
Add your answer:
Earn +20 pts
Can you get a loan after bankruptcy in Canada?
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.
What happens if you get unexpected money after bankruptcy was discharged?
nothing
Do you have to report money won after bankruptcy was discharged?
No. Done is done.
Is it legal to borrow from 401k before chapter 7 bankruptcy is discharged?
Yes, but it is one of the absolute stupidest things financially you can do. By the end of th BK you will lose the 401k money, which is only protected while it is IN the 401k, and be left with the debt to the plan, which won't be discharged and will seize the money in the plan to be paid.
How does bankruptcy afact your credit?
you will pay high interest rates when you borrow money
Paying back a discharged loan after chapter 7 bankruptcy?
There is no reason to repay a loan after a discharged bankruptcy, if you have done so, you can reclaim all your money from the creditor (you'll have to go through court).
When a person files bankruptcy in October and then wins money in a lottery are they required to report the winnings to the bankruptcy court?
You would only need to report the winning ticket if the bankruptcy was not discharged.
If you file for bankruptcy then shortly after you come into a decent sum of money can creditors go after that money?
The money might be included in the bankruptcy even is a discharged has occurred. The time between the discharge and the receiving of the money would be the deciding factor. If the bankruptcy has not yet been discharged the money might be included in the procedure as assets, unless it held exemption status.
Chapter 7 discharged bankrupcya cousin is now trying to take you to court for money that you borrowed a year before you filed for bankruptcy are you protected under the bankruptcy?
If you included it in your bankruptcy, you're protected by the discharge. If you didn't and you're already discharged from Chapter 7, you may not be protected. I suggest you discuss this with your bankruptcy lawyer.
Can you put an eviction in a bankruptcy?
No. Bankruptcy doesn't erase anything from your credit. In fact, it adds a very, very, bad thing to it.
If your wages were garnished and your employer is holding the money in an account how do you get the money released to you after bankruptcy has been awarded?
The back wages will not be released to the employee until the bankruptcy is discharged and the employer is notified by the court that the arrearages have been exempted from seizure.
Can a judgment be collected from a dissolved corporation?
The judgment would have to be presented to the bankruptcy court. Wow! Who mentioned bankruptcy? This is a money judgment against a admin dissolved corp. If bankruptcy had been filed the judgment, if listed, would be discharged and worthless.
