How long after bankruptcy can you get financed for a car?

Answer 1

From a search asking this question

Generally, you can sell it as soon as you receive your discharge. If you > sell it for significantly more than you scheduled it, though, there > could be > problems. > > -- > Brett > > ***************************************************************** > * Personal Injury/Malpractice Bankruptcy * > * * > * BRETT WEISS, P.C. * > * Attorneys at Law * > * Maryland, D.C. and Federal Bars * > * lawyer@antispambrettweiss.com * > * www.brettweiss.com * > * * > * Small Business Estates & Estate Planning * > ***************************************************************** > > The Small Print: This response is for discussion purposes only. It isn't > meant to be legal advice and you shouldn't treat it as such. If you want > legal advice, speak with a local lawyer familiar with your state's laws > who > can review *all* of the facts and the law applicable to your situation.

Answer 2

answer to your question is about five years This and many similar questions have been asked and fully discused several times before. Please refer to them. Nothing prevents you from buying a house. Getting a loan may be a different story. That is a choice each lender makes, and certainly how much your down payment is, the quality and security of your job, amount of income for the debt, etc., all come in to play...as they do for anyone. Your ability/credability based on your past, not your desire or need. In todays (2007) mortgage market...getting a mortgage is getting much more difficult for anyone. Someone with a history of bankruptcy, even more so. The general rule of thumb is that it will be at least 7 years until lenders will not consider the bankruptcy.

Answer 3

As soon as you can find anyone wanting to give you a loan, you can get a loan. As you don't just have no credit, you have certifiably terrible credit and are a bad risk, those wanting to do so are typically out to charge more than even people in better financial situations than you can pay, and to take advantage of you one way or another.

See your question about getting a loan is only part of the issue. You may think getting loans is the hard thing and all you care about....and your entirely wrong....PAYING for the loan is the hard thing. And how exactly do you expect to do so? And is it really the same way you expected to do so before...and didn't?

Answer 4

Depends on the lender and your request...and general apporvability. the Bk is on your report for 10 years, and will be considered an adverse thing for that time..but positive factors..paying all your debts timely...having secure income...having saved for areasonable downpayment..may mitigate that.

Answer 5

You can buy anything you want. You probably mean can you get a mortgage. That is at every lenders discretion. In todays mortgage and lending market...it is almost impossible to get a loan with any blemish on your credit, and BK is a biggie! You would clearly have to have a very sizable downpayment....and secure income, well sized for the mortgage...etc., etc. New mortgage, new debt, an obligation to pay as agreed? You can understand by your history why it would be tough. If possible at all, you would have to expect that you would pay a very high interest rate, likely making it something even people with stronger financials and ability wouldn't consider --- and following their lead as to what to do, something you shouldn't either. The above is really the nice answer...the fact really is - for a good long while after BK, and then only if you re-build your credit and maintain it as pristine...no exceptions...and then be able to actually be able to afford the debt and have real verifyiable income, etc....will you then mabe be able to get any substantial credit. Frankly, for a along while it ain't gonna' happen...and you should have understood that before filing BK.

Answer 6

You can buy anything you want at any time. Getting a loan will be an entirely different story. That will take years of establishing yourself as credit worthy, (meaning no new blemishes), down payment and secure income.

Answer 7

You have to wait until it has been discharged or dismissed. At that time the trustee's jurisdiction (control) over the house reverts back to the owner.

However, if you need to do so while the bankruptcy is pending, you can petition the trustee to release the house, state the reason why it would be best to let the house be sold, and the trustee will make the decision whether it can be sold or not.

Answer 8

You can stay as long as you continue paying the mortgage. Or if you dont plan to keep the house, then you would be able to stay several months before the lender forecloses.

Answer 9

There's not set time, however you have to have unblemished credit after the discharge of a bankruptcy, mortgage companies like to see at least a year, maybe two.