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How soon after filing a chapter 7 can someone take out a loan to purchase a car?
Wiki User
∙ 13y ago
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.
Wiki User
∙ 13y ago
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Can you pay cash for a car after filing chapter 13?
Well I did, so yes you can. Think about it - it's cash, you can buy anything with enough of it. If you needed a loan - forget it.
Can you exclude your spouse when filing a Chapter 7?
Yes, but do you want to. If your spouse is signed with you on any loan or credit card and he/she doesn't file for banruptcy, he/she will now be responsible for the debt.
When filing Chapter 7 is a car loan department discharged by your credit union?
An automobile loan is secured by the vehicle title, meaning that the lending institution has filed legal notice of interest in the vehicle. Even if you file chapter 7 bankrupcy, the lending institution can repo the car if you don't make payments.
What is the difference between a mortgage and monthly rent?
Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.
What is the maximum personal loan that can be discharge in chapter 7?
Chapter 7 has no maximum loan amount.
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.
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.
Can you sell your car and payoff the loan after filing chapter 7 before the discharge?
You should be able to do so, yes.
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.
CAN I QUALIFAY FOR A HOUSE LOAN IF I HAD CHAPTER 13?
Yes it is possible to qualify for a mortgage despite a Chapter 13 bankruptcy filing. In a Chapter 13 filing the debtor agrees to a court structured debt repayment schedule. Typically, after making payments on time to creditors as required by the bankruptcy agreement an individual can be discharged by the Court from the Chapter 13 proceeding. Once discharged from bankruptcy an individual can apply for a mortgage. Each bank has different rules about how soon someone can apply for a mortgage after a bankruptcy. Most people coming out of bankruptcy apply for an FHA mortgage loan since this program has the most lenient underwriting standards.
How long to wait after filing chapter 7 to buy another vehicle after you voluntarily turned in your current vehicle?
You can buy as soon as you can afford it. If you expect to get a loan to do so, you may have trouble finding a loan company to do it.
If your vehicle is stolen prior to filing chapter 7 bankruptcy can you still file the remaining loan amount?
Yes... but make sure you get an attorney. It may get complicated.
Can you pay cash for a car after filing chapter 13?
Well I did, so yes you can. Think about it - it's cash, you can buy anything with enough of it. If you needed a loan - forget it.
Can you exclude your spouse when filing a Chapter 7?
Yes, but do you want to. If your spouse is signed with you on any loan or credit card and he/she doesn't file for banruptcy, he/she will now be responsible for the debt.
Can a car be repossessed AFTER chapter 13 filing in Missouri?
Yes. Only if there was a relief of stay issued for the vehicle or you signed a reaffirmation for the vehicle loan and didn't make the payments.
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.
When filing Chapter 7 is a car loan department discharged by your credit union?
An automobile loan is secured by the vehicle title, meaning that the lending institution has filed legal notice of interest in the vehicle. Even if you file chapter 7 bankrupcy, the lending institution can repo the car if you don't make payments.
