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If you have filed Chapter 7 Bankruptcy and got a discharge on it almost 4 yrs ago why is it affecting your credit score and how can you get help clearing your credit report to get a car financed at a?
Wiki User
∙ 11y ago
GOOD LUCK!!!! MY HUSBAND AND I FILED IN 2002 AFTER LOSING TWO GREAT JOBS TO PLANT CLOSINGS,WENT FROM $80.000 DOWN TO $30.000 A YEAR.WHAT DO YOU DO WHEN YOU HAVE A BIG MORTGAGE,2 CAR PMYS,CHILDREN,CREDIT CARD BILLS AND OTHER BILLS,BILLS,BILLS.BUT AS FAR AS GETTING A LOAN WE HAVE BEEN TURNED DOWN FOR MANY LOANS,3 CAR LOANS....2 FURNITURE STORE CREDIT TURN DOWNS AND A HAND FULL OF OTHER LOANS WE HAVE TRIED TO GET..........THEY REALLY FROWN UPON PEOPLE WHO FILE BANKRUPTCY......AND YOU KNOW WHAT I WOULD LIKE TO SAY TO THOSE LUCKY PEOPLE----I HOPE FOR THEIR SAKE THEY NEVER LOSE THEIR GOOD PAYING JOBS LIKE MY HUSBAND AND I DID. WAITING 7 YEARS,DIANE
Wiki User
∙ 11y ago
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Can you get financed for a vehicle if you filed bankruptcy then had a repossession eight months after the discharge?
This situation will make it challenging to obtain financing as you will have clearly demonstrated a lack of ability or desire to continue a time finance repayment schedule. There are lenders out there who may be prepared to finance a car for you. They will, undoubtedly, charge extremely high interest rates and will have little or no tolerance for any past due payment.
Can you get financed for a mortgage if you are a first-time home buyer but filed Chapter 7 bankruptcy?
Yes, if it's has been more than 2 yrs. since your bankruptcy and you've paid all your current bills on time.AnswerI am a mortgage banker and I've made helping people with bankruptcies my specialty. I'd like to correct the person who posted above me, for an FHA loan you must wait 2 years after discharge. But you do NOT have to wait 2 years, you can actually qualify for up to 100% financing 1 day after a discharge of your bankruptcy, literally a single day out of discharge. You can also qualify for a loan while you are still in a chapter 13 re-payment program as little as 1 year from your filing date. You don't have to wait until your chapter 13 is paid off to get a loan or refinance your existing one and the best part is that you can payoff your chapter 13 balance during the refinance using equity from your property.
Is a new loan possible if you have perfect credit and have financed and paid off all assets but due to contractor negligence the home has been condemned and you've been advised to file bankruptcy?
Anything is possible.
What if i fail to surrender my car in bankruptcy?
You shouldn't have to, if it's financed they might want you to reaffirm but even that would be unusual, as long as you pay, they won't repo it. If not your exemptions can be used to cover enough of it to prevent a forced sale.
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