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How can you get a personal loan for money for a down payment on a house with bad credit and a recent voluntarily dismissed Chapter 13 bankruptcy?

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2005-09-05 22:59:21
2005-09-05 22:59:21

Depends on the state you live in. There are many states that have low income housing programs that will give you loans for home purchases. Especially for first time home buyers (in some states that is anyone who has not owned a home in the past 3 years). I would suggest calling some brokers in the phone books and asking them if they deal with any state or federal home loan programs that would help you get a down payment. Your other option is to go with a 80% first and a 20% second. Some lenders will go as low as 520 on 80/20s. Geneva, Gateway, Lend America, Loan Center, Option One, Express are all sub-prime lenders that I believe do have 80/20 programs and may lend to people with sub 600 credit scores. You would have to call and find out for sure.

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Related Questions


Yes. If you voluntarily have a chapter 13 bankruptcy dismissed, your creditors will be notified of the dismissal.

The same thing that happens when a Chapter 13 is dismissed in any other state. It is as if the bankruptcy was never filed. The automatic stay is lifted and the trustee returns any money left on hand to you.

You can't. A valid entry for a dismissed chapter 13 bankruptcy will remain on a credit report for seven years from the date of dismissal.

No, once a bankruptcy is dismissed it has to be refiled after the time limit has expired. The time limit to refile after a chapter 13 dismissal is two years.

A chapter 13 can be filed if it has been at least two years from the date the first filing was dismissed.

:A bankruptcy under chapter 7 or 11, or a non-discharged or dismissed chapter 13 bankruptcy generally remains on your credit file for 10 years from the date filed. A discharged chapter 13 bankruptcy generally remains on your credit file for 7 years from the date filed.

You can't get it removed. It is a public record. If you file a bankruptcy and get it voluntarily dismissed the next day, it will still be on your credit report. Also, by the way, not paying into a Chapter 13 plan is not a voluntary dismissal. The Trustee moved to have the bankruptcy dismissed. - The easier approach would have been to actually voluntarily have it dismissed. Regarding Nate's posting, I agree that non-payment of a Chapter 13 normally results in the trustee moving to dismiss your case, which is an involuntary dismissal. I have no idea if whether a Chapter 13 is voluntarily or involuntarily dismissed affects your credit rating differently (probably not, credit reporting agencies barely seem to recognize the difference between Chapter 7's and Chapter 13's, much less the way in which any particular case is dismissed), but there can be a big difference to the debtor whether a case is involuntarily or voluntarily dismissed if a creditor has moved to get property back. Once a creditor asks the court for permission to get back some property (such as a car or home), which they do by filing a Motion for Relief from Stay, then if you voluntarily dismiss your case you are barred from re-filing a new Chapter 13 for 180 days. This 180 days may be enough time for the creditor to foreclose/repo and sell the property. Once a creditor moves to repo/foreclose in a Chapter 13, many people prefer to be involuntarily dismissed so they can re-file a new Chapter 13 immediately and get protection again before the creditor sells the collateral. Please keep in mind this is not legal advice but simply a statement of what many people do in that situation from my perspective. So, while Nate (in the posting above) said it is easier to voluntarily dismiss, that does not mean it is always better to voluntarily dismiss, depending on the circumstances.

No. You can only have one bankruptcy proceeding at a time. You can convert the 13 to a 7.

Yes. It will show that you filed bankruptcy and that the bankruptcy was dismissed.

No once filed on file. * A dismissed or discharged chapter 7 will remain on a credit report for ten years. A dismissed or completed chapter 13 will remain on a credit report for 7 years.

You wont get any money back, garnishment should stop the next pay period after dismissal.

"Case dismissed" means the same as any other time you hear it. Dismissed means that the case has no merit or means to go forward and that charges (in this case, the charge of bankruptcy) can not be proven or declared. The bankruptcy was not granted.

Probably, though it may depend on why the case was dismissed. Consult an experienced bankruptcy lawyer about whether your dismissal order would present you with problems, and about whether filing another Chapter 13 or filing a Chapter 7 would be advisable.

You can have your Chapter 7 claim dismissed as long as the dismissal will not harm your creditors. This is filed with the court in much the same way as when you initially filed for chapter 7 bankruptcy

Yes, a bankruptcy lawyer can assist with personal and business bankruptcies if you file for Chapter 7 bankruptcy.

No. If it is not covered by the allowed bankruptcy exemptions then it is subject to seizure and sale or liquidation. The filer always has the option to have the bankruptcy dismissed,

not at the same time, and you'll have to wait a certain period of time after being dismissed/discharged from one before filing the other.

Chapter 7 bankruptcy information can be found at US Courts, Corporate Bankruptcy, Lawcore, Personal Bankruptcy, Legal Helpers, NOLO, and Bankruptcy Help.

If your Chapter 13 was dismissed, meaning you did not complete your Plan, then you are essentially right back where you started before you filed for bankruptcy. The creditors can pursue you for the debts without any legal ramifications.

Bankruptcy is meant to give an honest debtor a fresh start in life. Just because your chapter 7 petition has been dismissed it does not mean that you can never file for bankruptcy protection. If your chapter 7 petition was dismissed less than a year ago, then the automatic stay that comes into operation on the filing of a bankruptcy petition will be operational only for 30 days after which it will be terminated unless you can show that your prior filing which was dismissed was filed in good faith. For an official opinion, it is advised you seek legal counsel.

If you are referring to a Chapter 7 bankruptcy, you are stuck with debts incurred after filing the bankruptcy unless your case is dismissed without a discharge and later refiled. In a Chapter 13 case, sometimes post petition debts can be paid through plan or the debts can be covered if you voluntarily dismiss the case and refile or convert it to a Chapter 7. In the case of a conversion to a Chapter 7, it would cover all debts up to the date of the conversion. The reform laws that went into effect in October 2005 contain much stricter rules on cases where a bankruptcy has been dismissed and refiled to prevent "serial" filers. Before making a decison, you must consult a local bankruptcy attorney to decide if dismiss your case and refiling is a valid option for your circumstance. Finally, Chapter 7 cases are very difficult to dismiss voluntarily.

The time limit for a discharged chapter 7 or 13 bankruptcy to remain on a credit report has always been 10 years. A dismissed chapter 7 wil remain 10 years, a dismissed chapter 13 will remain 7 years.


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