Assuming the bankruptcy has gone to discharge, the debtor can apply for a car loan almost immediately, as long as the income is enough to qualify. You will pay a high interest rate, though, if you make the payments on time for a year or so, you may be able to refinance. Watch out for "we finance here" dealers. They are often not licensed as lenders and will have you sign a document with a lot of blank spaces. Don't do it.
Go to a credit union or a small local bank, if possible.
If the bankruptcy is still pending, you need permission from the court.
If you are filing for bankruptcy, and you try to cosign -- two things can happen. 1. the lender will turn you down. 2. If the court finds out you have applied for credit the bankruptcy can be stopped. If you mean that the car and loan will be for you during or after the bankruptcy, this still has to be disclosed and again the bankruptcy can be stopped.
If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.
depends on who the lender is and how you pay it off. with most lenders(sub prime) you can get the loan anyway if you pay more down.
There are a number of places one may be able to get a loan to purchase a car after declaring bankruptcy. Depending on how long ago the bankruptcy was declared, a number of banks and credit unions may offer one a loan.
if the consigner files bankruptcy can the borrower take the car
To receive a car loan after filing for bankruptcy you will probably have to rebuild your credit before applying. You can also find a co-signer with amazing credit to counteract yours.
No, only unsecured debt is discharged.
If you are filing for bankruptcy, and you try to cosign -- two things can happen. 1. the lender will turn you down. 2. If the court finds out you have applied for credit the bankruptcy can be stopped. If you mean that the car and loan will be for you during or after the bankruptcy, this still has to be disclosed and again the bankruptcy can be stopped.
No - having had a car that was re-possessed will not affect the filing of a Bankruptcy.
If you wreck your car after filing for Chapter 13 bankruptcy you can file it on your insurance. You can then replace your car based on the bankruptcy order.
On the surface, no. As long as you have not defaulted on the loan contract, there is no reason for repossession. The lender wants your money, not your car.
The loan company can repossess any car that the payments are delinquent on. Your BK does not prevent repossession of your car.
Yes, but the bankrupcty applies only to the person filing. The other party would still owe the debt.
depends on who the lender is and how you pay it off. with most lenders(sub prime) you can get the loan anyway if you pay more down.
Whether your car loan is discharged by a bankruptcy or not will depend on your state and the equity in your car. Whether the loan will be discharged or not is called an "exemption".
That depends on what you're asking. Who filed bankruptcy? The owner of the car or the owner (holder) of the car loan? Did you co-sign on the loan? If you co-signed on the loan and the other signer files for bankruptcy, yes you are liable for the loan. If the owner (holder) of the car loan files for bankruptcy, you are still liable to the owner's creditors (and you need to find out who they are so you can get the lien released).
If all you did was sign the "Statement of Intention" saying you intended to reaffirm the debt, and did not in fact reaffirm the debt with a reaffirmation filed with the court, and did not continue making car payments after the date of filing, the secured debt survived the filing and you are not entitled to the title until you pay the loan off. The lender can repossess the vehicle and sell it. It's not a question of what the court did, but what you did or did not do with respect to the loan.