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Is it possible to get financing to purchase a house and a car after filing Chapter 7 bankruptcy for the second time?
You need your Bankruptcy Chapter 7 to be discharged first before getting a loan to buy a house. Most lenders require two to four years of re-established credit before they will consider making you a loan. However, many lending sources are competing today to make loans to borrowers with less-than-perfect credit even if you have had your Chpter 7 discharged less than two years ago. You may need to put down a sizable down payment,and have sufficient income to qualify howevevr. there are some mortgage lenders that will allow one day out of bankruptcy with 100% financing
What else can I help you with?
You are financing a vehicle but you can no longer afford payments what can you do?
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
Is it possible for me to file for Chapter 7 bankruptcy before the 8-year waiting period has passed?
No, you cannot file for Chapter 7 bankruptcy before the 8-year waiting period has passed.
How soon after filing chapter 13 can you hope to buy a home?
The best time to purchase a new home after filing for Chapter 13 bankruptcy depends on how long your bankruptcy will be. If you have your payments on a five year plan, then you may have to wait a little longer.
Is it possible to buy a home after filing chapter 13 then chapter 7 bankruptcy?
Yes, it is possible but there are circumstances. Time is a big factor, that is how much time has passed since the chapter 7 was discharge? I know of lenders who will provide loans just one day out of bankruptcy. But a fairly decent credit score has to be there and if its a refinance there has to be some equity in the property.
How long does it take after a bankruptcy is discharged to show on your credit report?
The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.
Is it possible to NOT qualify for chapter 13 bankruptcy?
Yes
You are financing a vehicle but you can no longer afford payments what can you do?
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
Can we purchase a business from a chapter 11 debtor?
Yes, with bankruptcy court approval.
How soon after chapter 7 can I buy a car?
After filing for Chapter 7 bankruptcy, you can typically buy a car immediately, but obtaining financing may be more challenging. Lenders often consider your credit history post-bankruptcy, so you may need to look for dealerships that offer in-house financing or special programs for individuals with bad credit. It's advisable to check your credit report and potentially work on rebuilding your credit before making a purchase.
If you filed bankruptcy four years ago and remarried can you file joint bankruptcy now?
It is possible for the married couple to file a chapter 13 or in some instances a chapter 11.
Does buying a new car with an open bankruptcy affect your bankruptcy?
If you filed a Chapter 7 bankruptcy and buy a car before the discharge is issued, there's no impact on your case. If you're in Chapter 13, however, your disposable income post-filing until discharge may be considered property of the estate; in addition, if you're financing the new car then you likely need to have the court's permission before entering into the financing agreement.
If you are in bankruptcy can you still purchase a new or used car?
If it is chapter 7 and has not been discharged then, no. If it is a chapter 13 then the bankruptcy filer would need the permissin of the trustee to make any major financial transactions.
Is it possible to exempt a tax refund in chapter 7 bankruptcy?
You can't "exempt" anything.
Is it possible for me to file for Chapter 7 bankruptcy before the 8-year waiting period has passed?
No, you cannot file for Chapter 7 bankruptcy before the 8-year waiting period has passed.
If your fiancee files a chapter 7 bankruptcy and you get married how will that affect you?
It will only become an issue if you apply for joint credit such as a mortgage, vehicle financing, and so forth.
How soon after filing chapter 13 can you hope to buy a home?
The best time to purchase a new home after filing for Chapter 13 bankruptcy depends on how long your bankruptcy will be. If you have your payments on a five year plan, then you may have to wait a little longer.
If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?
Yes.
