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That'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".

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โˆ™ 2006-04-04 02:51:43
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Q: How soon can you borrow money from your bank after being discharged from a bankruptcy?
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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 does discharged mean on bankruptcy?

Debt discharged -- you no longer owe that money to that person.

What happens if you get unexpected money after bankruptcy was discharged?


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.

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.

If you have a promissory note from a person who filed for bankruptcy can you still recover that money?

Not if the debt is included and discharged in the bankruptcy. If the debt is not discharged in the bankruptcy the lender(note holder)may take whatever actions are permitted under the laws of the state where the debtor resides to recover the money owed.

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).

How does bankruptcy afact your credit?

you will pay high interest rates when you borrow money

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.

Do you have to pay taxes on money discharged from bankruptcy?

Cancellation of Debt is income. HOWEVER there is a special exemption for bankruptcy cancellations that may be applied in most cases.

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 non-school certified private student loans be discharged in bankruptcy?

I heard they can be discharged if one can show that the money was used for expenses not related to school. Can anyone provide evidence of this?

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.

What is credit-?

The status of being trusted to borrow money to buy something and pay it back later.

Will my kids father going into bankruptcy stop you from receiving child support?

Child support is not discharged in bankruptcy. However, there is sometimes a temporary hold on collecting any debt. And if the obligor has filed bankruptcy, it seems likely that he doesn't have money for child support.

Can my attorney's fees be placed on my bankruptcy?

Bankruptcy attorneys will collect all money due to them prior to them filing the bankruptcy case in court because uncollected fees will be discharged. If you're talking about unpaid attorney's fees for other legal matters, they will be discharged, unless the attorney has had you sign a lien on real estate or other collateral which has been perfected as required by state law.

Can you still get a loan after filing for bankruptcy?

Once 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.

Can an employee be bonded if they have filed bankruptcy and it was discharged?

Many financial jobs require wonderful credit history, since you will be handling money and financial affairs.

If your ex fiance owes you a large sum of money and files for bankruptcy can he include you in that bankruptcy and after he is discharged can you sue him for the money?

No, that's the point of filing bankruptcy. Suing him would be in violation ofthe permanent stay against creditors including you. He can have the bankruptcy court stop the suit and allow him attorney's fees and even damages.If you had grounds for objecting to dscharge, you should have filed an objection with the court.

Should the balance of a creditor you filed chapter 7 on show zero on your credit report after it has been discharged?

No. Bankruptcy discharge does not mean the money isn't owed. It means that creditors cannot attempt to collect it. The money will always be owed. Accounts included in bankruptcy will stay on the cr marked included in bankruptcy, for the full seven years.

How do you get a student loan forgiveness?

This is a VERY hard thing to get and rarely are student loans discharged. Additionally, student loans are not discharged in either a chapter 13 or chapter 7 bankruptcy proceeding. In the event that a student loan is discharged, the court requires a showing of extreme difficulty in paying the money back.

Can you open a new business if you file for bankruptcy personal and business bankruptcy?

I suppose you could, but even if you did manage to get the financing together to open another business, any profits from it would be subject to seizure by the court and the bankruptcy trustee to pay off the bankruptcy judgement. There is no bankruptcy "judgment." If the bankruptcy is over and you have your discharge, you can open a business, and any money you make is yours. Providing the first bankuptcy is discharged.

Is it safe to do credit card cash advances before file bankruptcy?

Not really. Cash advances can and will be scrutinized by the bankruptcy Trustee for up to ONE YEAR prior to your bankruptcy filing date. If you take a cash advance and then file bankruptcy, that portion of your debt may not be discharged, on top of having to account for why you took it and what you spent the money on.