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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.

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โˆ™ 2011-09-12 14:53:29
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Q: Can you get an auto loan after filing for bankruptcy but before it is discharged?
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Related questions

Does filing bankruptcy decrease the chances of you obtaining a home or auto loan?

Absolutely.


If you have affordable auto insurance before filing bankruptcy based on good credit do you have to tell the insurance company you filed?

BK will not affect any insurance policies that are already in effect.


Are there any legal issues if your bankruptcy that included your leased auto has been discharged and you fell behind on on auto payments?

You need to ask this of your B/K attorney for state specific advice.


Is it okay to purchase a car before you file bankruptcy?

Yes, as long as it is not excessive and you plan on paying it back. In other words don't buy a Mercedes if you usually drive a Honda. And any auto loan made within 910 days before bankruptcy cannot be discharged. So if you can't pay for it they can come repossess it.


Does bankruptcy cover your debt from being sued by an auto insurance company?

It may, I would make sure they are listed as a creditor upon filing.


Can a lender report repossession of a discharged auto?

If they repossessed it as part of the bankruptcy (and you didn't get it back), probably yes. However, the bankruptcy itself is a bigger black mark than the repo, especially since it can stay on your credit report longer (up to 10 years after filing, though some bureaus remove Chapter 13 after 7 years; repos only stay for 7 years).


Will a voluntary auto repossession still show on your credit reports after Chapter 7 is discharged?

Most likely. They are two separate issues.AnswerYes. It will show that you no longer owe the debt, as well. AnswerIt MAY show up, however, if the debt for the vehicle was discharged in bankruptcy, it cannot be reported. There can be no negative reporting on a discharged debt - not even for a voluntary repo. If the vehicle was surrendered as part of the bankruptcy, the loan should show as a ZERO balance, no past dues, and 'included in bankruptcy' on your credit report.


Will filing of a chapter 13 bankruptcy prevent Auto car repossession in new york state?

Yes, at least for a short time. But you will have to pay what you missed and borrowed in order to keep it.


Can a person file bankruptcy on an auto accident claim?

Filing bankruptcy creates an "automatic stay" which is a court order stopping most efforts to collect a debt, including lawsuits. Whether or not you are eligible for a discharge of the particular debt depends on the type of claim filed against you. In the case of an auto accident, liability for death or injury resulting from driving under the influence of alcohol or drugs cannot be discharged. The decision to file bankruptcy and which type of bankrupty to file should be made after consultation with a qualified attorney. You must another an number of factors into consideration such as the amount of your dischargeable debt, value of your assets, income and expenses.


How long can you wait before filing an auto claim after an accident in Texas?

No time at all, call them right away.


Auto Loans Bankruptcy - Borrower, Beware?

If you have recently declared bankruptcy, you may be surprised to receive an offer for auto loans bankruptcy that promises you quick approval despite your financial status. Chances are that this offer is either an outright scam or a very limited loan at high interest with many restrictions. Auto loans bankruptcy are almost never offered by reputable lenders, and usually what you are really receiving is a solicitation from a credit advisor who may even demand a fee before searching for what he claims is an approved auto loan. Basically, auto loans bankruptcy are rarely available - so borrower, beware!


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.


Recovering From Bad Credit?

One of the best ways to recover from bad credit after filing bankruptcy is to get a car loan and make the payments on time. Perhaps it is possible to get an auto finance loan while in Bankruptcy but, there are a couple of issues to note. The interest rate for an auto loan while in Bankruptcy will not be good. Bankruptcy Trustee approval is needed if you do finance a vehicle while re-paying a Bankruptcy. An alternative to traditional auto financing is to borrow money from a family member or friend. This will allow you to get the money needed for your next vehicle without the worry of finance fees or interest rates. It is important to know that this is a business transaction and a signed agreement will protect all parties involved.


What are the advantages of filing for bankruptcy?

The advantages of filing for bankruptcy are different depending on which chapter bankruptcy is filed. Chapter 13 is more for home foreclosure and auto loans, it's advantages allow the person in debt to pay their debt back over a longer period of time and keep the things they have worked very hard for. Chapter 7 advantages are that the person in debt can make payments for less than a year and be debt free and most if not all of the unsecured debt owed can be dropped.


Can a person release after 5 year as bankruptcy?

Some countries like Thailand and Indonesia has ruling of auto discharge of a bankruptcy after 3 years.Is there such a rule in Singapore, auto discharge of bankruptcy?If there is, what is the procedure like and for how many years?


How many NAPA auto parts stores went into bankruptcy?

I don't find where any have filed bankruptcy.


Do you have to get full auto coverage if you file bankruptcy?

If you're auto payment is included in your bankruptcy, then yes, they will require you to keep full coverage as long as there is a secured balance on the vehicle.


How soon after filing a chapter 7 can someone take out a loan to purchase a car?

It used to be with a chapter 7, that you could go out as soon as your bankruptcy was discharged and get credit. In fact, you'd get credit card offers all the time. Not so much now with the economy the way it is. You should still be able to find some sub-prime auto financing, but be prepared to pay high interest rates for a while.


If you keep a car after filing bankruptcy can you turn the auto in later?

IF the lender will accept it. they dont always pick them up, it depends on the condition of the car, VALUE of the car, amount owed, time of sunrise in New Zealand, ect.


Auto Loans With Bankruptcy?

Bankruptcy is a life event most people want to avoid; however, it can happen to the best of people. Economic uncertainty and layoffs have led many people to have to file for bankruptcy. Many people just need an opportunity to start over with their financial life. Although it may be a little more difficult, it is possible for people to secure auto loans with bankruptcy on their record. The type of bankruptcy makes a difference. A chapter 7 bankruptcy gives a person the opportunity to start completely over. Lenders will look at the person's ability to pay for the auto loan. Auto loans with bankruptcy on the record may take more creative work, but it is possible to obtain.


Where can one get a bankruptcy auto loan?

Bankruptcy auto loans are very difficult to obtain. Some insurance companies do provide them. However they come with extremely high rates as well as poor terms.


Can an Attorney's Lien be discharged in bankruptcy?

Most of the online literature and case law appears to indicate "NO". After some thought about the fact that judgment liens can be discharged in a bankruptcy (though it's not automatic) by filing an adversary action seeking an order stripping the lien from an asset otherwise shielded under the exemption schedule, but NOT purchase liens (mortgage, secured auto loan, etc) it would seem an attorney's lien against the proceeds of a tort are tantamount to a purchase lien. i.e. The attorney PRODUCED the asset via his/her work product. Obviously the lien CAN be stripped (as can any lien) if the asset has less value than any portion of the lien, say the IRS is 1st in line, for example. If any competent bankruptcy attorney has a different opinion, please cite the case law, federal code, etc.


Do you need to file your auto insurance claim with your taxes when filing them?

Your auto insurance claim has nothing to do with filing your income taxes. You file your auto claim by notifying your agent right when the incident occurs so they can start working on the claim as fast as possible.


How do you file an SR22 to be able to drive your girlfriends car if its the only one you drive?

You have to buy Auto Insurace and request an sr22 filing, You may also be added to your girlfriends Auto Insurance and have her Insurance company issue you an sr22. SR22 Insurance is the same thing as Auto Insurance. Only your Auto Insurer with whom you are a named insured driver can issue you an SR22 Filing. An SR22 Insurance Filing is just proof for the state that you have obtained your auto insurance.


Whats the easiest way to get the ac lines apart when pulling a heater core out of a '89 sho?

First, the A/C system has to be discharged. If it is not discharged before you take the lines loose, you will be seriously injured. After it is discharged, there is a special tool that is made to disconnect those lines. That tool is available at most auto parts stores. You will not get those lines loose without that tool.