Snippets home page
 
 
register
 
 
debt

Is it possible to get a car loan during a chapter 13 bankruptcy?

asked by Teresa24 (26)

You have 50 words left!
 
 
related questions

Can I file chapter 7 bankruptcy after I retire?

Can you file a 401k loan on a bankruptcy?

Can you tell me how to file a motion in a Chapter 13 bankruptcy?

How do I file chapter 7 bankruptcy for my C-corp?

How is car loan debt handled in a Chapter 7 Bankruptcy?

If my debt was dismissed by a chapter 13 bankruptcy can I still sell my home?

What rights to tenants have if a home is surrendered in a chapter seven bankruptcy?

Tags:  debt  finance  possibilities

answers

Yes, it is possible to get a car loan, you will just have to deal with a higher interest rate than you might be used to.

7 votes

It is not possible to get a car loan through bankruptcy. You are getting rid of your debt and the courts will nto allow you to get any new loans until you have satisfied the obligation of your prior debts. You should not even be considering this while going through the bankruptcy process

6 votes

It is possible. However, the interest rate will be very high, often in excess of 10%. A better alternative is to seek a personal loan from a family member or even seek one through charity.

6 votes

Not really. When you're filing for bankruptcy your lawyer will tell you that you should only spend money on your every day purchases and not do anything elaborate. Not to mention you probably won't be able to get a loan since your credit is shot.

6 votes

While any bankruptcy proceeding is happening, you are prohibited from getting any new loan or entering into any new debt. This could invalidate your bankruptcy and discharge.

reply
posted by John (7911)
6 votes

Yes, it is. Lenders will make a loan to you, but at a much higher interest rate than you would get outside of bankruptcy or if your FICO score was higher. Make sure the payments are affordable for you given your budget and plan payments. The Chapter 13 Trustee and/or the Bankruptcy Court must approve the loan before you apply.

4 votes

Report a post on this page as inappropriate
 If you have questions about user content, read our liability disclaimer

  
   
Add your own answer in 50 words or less! Add your comment in 50 words or less!

copyright © 2008
conjecture corporation

FAQ About Us Contact Us Terms & Conditions Privacy Policy