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If you are planning to file Chapter 7 can you obtain a loan to buy a car before the filing?

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βˆ™ 2006-09-13 15:01:05

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You can but 1, if your financial situation is such that you're considering bankruptcy, you almost certainly won't get approved and 2, it wouldn't necessarily be forgiven or dismissed as part of the bankruptcy.

2006-09-13 15:01:05
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Q: If you are planning to file Chapter 7 can you obtain a loan to buy a car before the filing?
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Related Questions

How do you obtain an extension of two weeks to file your initial schedule in a chapter 7?

You must file a motion to extend the time, and it must be filed before the time for filing has expired. Read your local rules.

Can you obtain a mortgage after filing Chapter 7 if you just filed chapter 7 in December 2005 and are moving and your wife has good credit and can you both be put on the mortgage?

yes you can !i know from experience that you can the day you leave the courthouse!!!!!!

Can you buy new house after bankruptcy chapter 7?

Yes, you can buy a home after filing for bankruptcy. The question is going to be whether or not you can obtain financing. If you can wait 2 years after filing, you will have a better chance of obtaing a decent loan at a decent interest rate.

What happens when you file Chapter 7?

A Chapter 7 bankruptcy proceeding is started by filing a petition with the bankruptcy court. The person filing a Chapter 7 is referred to as the "debtor." The debtor is necessary to disclose to the court all of its property and debts and turn over all nonexempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors. The debtor then obtain a discharge of all dischargeable debts.

Is it necessary to obtain a lawyer for the conversion of chapter 13 to chapter 7?

No. The person would file a "motion to convert" and fill out the required forms. The party involved should make certain that they claim all their legal exemptions particularly the Homestead Exemption,(if it's applicable). Some states it is required that the homestead exemption be filed before filing a 7 or it will not be valid.

Does it hurt to apply for a credit card 3 years after filing Chapter 11?

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You will need to obtain the consent of the Chapter 7 trustee before selling any property of the bankruptcy estate.

Will it be hard to obtain a home loan after filing bankruptcy?

Virtually impossible.

How long will chapter 7 bankruptcy stay on your credit in ME?

The most obvious disadvantage of filing for bankruptcy is that it will ruin your credit for at least 7-10 years. Some other disadvantages include: * Losing credit cards * Losing non-essential possessions * Inability to obtain a mortgage for some time * Embarrassment * Not all debt will be discharged Because of all those reasons, it is really important to take that into consideration before filing!

Can you get a place to live after filing chapter 7?

Bozo No, you'll be homeless for the rest of your life. Of course youcan can "get" a place to live. However, it makes it very difficult to obtain financing to buy a home but you'll have no problem getting a rental.

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The insurance industry has pulled credit for many years to determine eligibility and rates. Rather than obtain a general answer to your question, why not pose it in a specific form to your agent?

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There are a lot of web sites that offer forms. Most bankruptcy courts have local forms available on the court's website. There is a standard Proof of Claim Form:

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