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There are loan companies that will take one spouse credit score into consideration. If you are trying to get a new loan to purchase a home, there is not much money currently available. You would have to make a large down payment, and expect to pay higher interest. To find a loan you may have to contact several companies before you find the one that works for you.
If you have a home loan, and your home has maintained it's value, you might have a better chance to refinance it. We refinanced our home by paying an additional downpayment into the escrow at closing. We were able to lower the monthly payments, by extending the length of the loan. Maybe that would work for you.
What else can I help you with?
Can you cosign on a loan if you declared bankruptcy but have a good income and a good future outlook for earnings?
Whethr or not you would be eligible would be the decision of the lender. Many lenders consider a person who has discharged a total liquidation bankruptcy and is gainfully employed as a good credit risk, as it is assumed the person has no outstanding debts.
If you have a 700 credit score but your chapter 13 just discharged what interest rates will you be able to find?
With a 700 credit score and a recently discharged Chapter 13 bankruptcy, you may still face higher interest rates compared to those without a bankruptcy on their record. Lenders typically consider the bankruptcy when assessing risk, which can lead to rates that are 1-3% higher than average, depending on the type of loan. However, your relatively good credit score can still help you secure more favorable terms than someone with a lower score. It's advisable to shop around and compare offers from multiple lenders.
How can you lower your finance charge after a bankruptcy?
That is part of the problem of using the bankruptcy laws. Afterward, lenders consider you to be a high risk and as such charge you more for a loan.
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 bankruptcy information should you know before you consider filing for bankruptcy?
Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.
Can I get a balance transfer card with a bankruptcy that won't discharge for 6 months?
It may be challenging to obtain a balance transfer card while you have a bankruptcy that hasn't yet discharged. Most credit card issuers consider your credit history, and a pending bankruptcy can significantly impact your creditworthiness. However, some lenders specialize in offering credit to individuals with poor credit or those undergoing bankruptcy. It's advisable to shop around and consider secured credit cards as an alternative until your bankruptcy is discharged.
Can you cosign on a loan if you declared bankruptcy but have a good income and a good future outlook for earnings?
Whethr or not you would be eligible would be the decision of the lender. Many lenders consider a person who has discharged a total liquidation bankruptcy and is gainfully employed as a good credit risk, as it is assumed the person has no outstanding debts.
What assets can they take in bankruptcy?
Its easier to consider what they can't/don't: 401K or IRA account. Household Goods. Work Tools. Reasonable (read cheap) Car., Medical type devices, a few other things.
If your credit score is 535 after filing a chapter 7 bankruptcy that is not discharged will it lower more when the discharge becomes official?
Your credit rating after bankruptcy is based on a number of factors. Many people are consider a good credit risk after bankruptcy if they have no debt and a job. Visit my web site for an article on rebuilding credit after bankruptcy: http://www.chs-law.com/2005/05/rebuilding-credit-after-bankruptcy.HTML.AnswerMy score raised from 530 to 572 when I received my chapter 7 dicharge.
If you have a 700 credit score but your chapter 13 just discharged what interest rates will you be able to find?
With a 700 credit score and a recently discharged Chapter 13 bankruptcy, you may still face higher interest rates compared to those without a bankruptcy on their record. Lenders typically consider the bankruptcy when assessing risk, which can lead to rates that are 1-3% higher than average, depending on the type of loan. However, your relatively good credit score can still help you secure more favorable terms than someone with a lower score. It's advisable to shop around and compare offers from multiple lenders.
Will you lose your house if you consider bankruptcy?
You can keep the house if you pay the enquity in your house to the trustee and if the mortgage company itself agrees. You can also consider some bankruptcy alternatives read more herehttp://www.totaldebtservices.com/bankruptcy_alternatives.asp
How can you lower your finance charge after a bankruptcy?
That is part of the problem of using the bankruptcy laws. Afterward, lenders consider you to be a high risk and as such charge you more for a loan.
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 kind of lawyer would one use when declaring bankruptcy?
When one is declaring bankruptcy, they should use a lawyer familiar with bankruptcy. There are different types of bankruptcy to consider, such as liquidation or cancelling your debts, or reorganizing for wage earners who can still make debt payments.
What is necessary to file for bankruptcy?
Filing for bankruptcy is a complicated process and one should consider hiring a lawyer to help with the filing process. You also need to undergo credit counseling and be aware of what type of bankruptcy to file.
Can you consider food as an important household material?
Food is an important household component. It isn't necessarily a household material. A household material would be more like something that cleans the floor, etc.
What bankruptcy information should you know before you consider filing for bankruptcy?
Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.
