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Can you sell your car and pay off the loan after filing chapter 7 but before the discharge?
Wiki User
∙ 12y ago
Well first and foremost I would not suggest doing so without first consulting your attorney. If you are representing yourself contact the trustee administering the case.
However with that said the clearest answer is you cannot until the trustee has abandoned their interest in the property. If a trustee has done so it will be a part of the case history.
Wiki User
∙ 12y ago
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Can you sell your car and payoff the loan after filing chapter 7 before the discharge?
You should be able to do so, yes.
What is the maximum personal loan that can be discharge in chapter 7?
Chapter 7 has no maximum loan amount.
Can you get a car loan before chapter 7 discharge?
No. And if someone wants to give you one, run away from that dealer.
How soon after your discharge date after filing chapter 7 can you make a purchase for a 4-wheeler?
You could probably get a loan somewhere the same day, but the interest rate you will pay will be extremely high.
Can you finance a car during filing of chapter 7 new york state?
Bankruptcy is a federal action in a federal court, whether in New York State or elsewhere. You cannot get a loan while in a Chapter 7. No creditor will lend to you until you have received your discharge.
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.
Can a home loan be included in chapter 7?
Yes you can. After being discharge the lender will continue any process they were into. By filing BK you are only buying more time in the house. In CA it's about 3 monthd or more depending on your lender.
How long do you have to wait to file chapter 7 after obtaining a personal loan?
There is nothing stopping you from filing right away. Any loans or deals for at least 2 years before filing will bescruitinzed closely and possibly reversed or excluded from protection.
How long after filing chapter 7 buy a house using your veteran loan?
According to some commercial VA loan companies, you have to wait for 2 years after your discharge to start the process. As soon as you can find a willing lender/bank/mortgage company after that time. You will have to improve your credit, which may take a few years.
Are cars an asset when filing for Chapter 7?
Yes. There may of course be a liability of a loan secured by it you also need to report.
How long after bankruptcy do you have to wait before refinancing?
Refinancing after a bankruptcyThe time period you have to wait depends on what chapter bankruptcy you filed. Generally, you are able to refinance 2yrs after a Chapter 7 discharge.If you are in Chapter 13, you can refinance the next day with many lenders. You can email a mortgage broker like myself to find out more.To add to the above answer, you do NOT have to wait 2 years to refinance after a chapter 7 discharge, those are for fannie Mae loans. You can refinance a chapter 7 a day after discharge. A chapter 13 can also be refinanced before discharge since it's on a payment plan for 3-5 years from filing date. You can get a chapter 13 refinance as little as 6 months from filing, not discharge and you can payoff your chapter 13 in the process if you have enough equity in your home.
If you filed for chapter 13 can you purchase a new car?
While in a Chapter 13 debt repayment, the person(s) involved must have the permission of the assigned trustee before making major financial transactions. Failure to do this can result in the dismissal of the filing and/or other penalties. Not quite true. You can purchase a new car by obtaining a specific car loan agreement which does not seriously affect your chapter 13 plan payments and filing it with the court with a motion to approve the loan. The chapter 13 trustee must also agree to the new car loan. The details vary somewhat from one bankruptcy district to another, so consult a local bankruptcy lawyer.
