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Q: Can you get approved for a new car loan after your chapter 13 bankruptcy is dischared?
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Can you get a mortgage loan if you are in a chapter 13 bankruptcy?

If you are lucky, yes. But most likely, no lender will give you a mortgage loan if you are or have declared bankruptcy.


If you are planning to file Chapter 7 can you obtain a loan to buy a car before the filing?

You can but 1, if your financial situation is such that you're considering bankruptcy, you almost certainly won't get approved and 2, it wouldn't necessarily be forgiven or dismissed as part of the bankruptcy.


How hard is it to get financed for a home while in a chapter 13 bankruptcy?

To get a home loan while in chapter 13 bankruptcy is not that hard. The most important aspect of getting approve for a new home loan is your ability to repay the home loan. A lender may approve your home loan but your bankruptcy trustee may not allow you to get a new home loan. What you need to do is contact your trustee and lawyers involved with the case. You will need to get a payment history of your current chapter 13. Very important that you have never been late beyond 30 days for your current bankruptcy. You will need to provide you lender with all of your bankruptcy documentation to get approved for the loan. Once you have contacted your lawyers and trustee, they will request your most recent 2 year tax statements and will ask where is the down payment coming from. This is extremly important, unless you qualify for 100% financing or an FHA home loan. If you prepare yourself correctly there is about a 90% chance that you will get approved for a new home loan. Visit the page listed below for more information. We assist borrowers with purchases after or during bankruptcy to get new home loans. http://www.lowermymortgageratestore.com/BANKRUPTCY_is_bad_FORECLOSURE_is_worse.htm


Can you do a loan modification if you are in chapter 13?

A Chapter 13 bankruptcy puts the entire debt collection process on hold to give the filers time to work out a court-approved repayment plan for a portion of their debts. Thus, because the process is on hold, a loan modification can not be enacted while a mortgage is currently under the supervision of the Chapter 13 trustee. However, it is possible to negotiate a modification of a loan with the mortgage lender during the bankruptcy. But it will be necessary to have the bankruptcy case voluntarily dismissed before the modification can be finalized and put into effect. Banks may not be willing to negotiate with the borrowers under the circumstances of a Chapter 13, though.


Can a person get pre-approved for a home loan with a credit score of 567 if they are presently in chapter 13?

It's highly unlikely a lender would consider such a request. Additionally, while participating in a Chapter 13 bankruptcy, all major financial transactions must have the approval of the bankruptcy trustee before they can be undertaken.

Related questions

If your loan was approved by chapter 7 bankruptcy can the bank still deduct from your checking account?

Not enough information is disclosed about the situation in order to answer. If you have an attorney assisting you in your bankruptcy ask them.


Can you get a mortgage loan if you are in a chapter 13 bankruptcy?

If you are lucky, yes. But most likely, no lender will give you a mortgage loan if you are or have declared bankruptcy.


Can an advance cash loan be part of a Chapter 7 bankruptcy?

Yes, it is an unsecured loan.


Can you get a personal loan with an open chapter 7 bankruptcy?

maybe


Can you get a loan when you are still in chapter 13 bankruptcy?

yes u can


If you are planning to file Chapter 7 can you obtain a loan to buy a car before the filing?

You can but 1, if your financial situation is such that you're considering bankruptcy, you almost certainly won't get approved and 2, it wouldn't necessarily be forgiven or dismissed as part of the bankruptcy.


How hard is it to get financed for a home while in a chapter 13 bankruptcy?

To get a home loan while in chapter 13 bankruptcy is not that hard. The most important aspect of getting approve for a new home loan is your ability to repay the home loan. A lender may approve your home loan but your bankruptcy trustee may not allow you to get a new home loan. What you need to do is contact your trustee and lawyers involved with the case. You will need to get a payment history of your current chapter 13. Very important that you have never been late beyond 30 days for your current bankruptcy. You will need to provide you lender with all of your bankruptcy documentation to get approved for the loan. Once you have contacted your lawyers and trustee, they will request your most recent 2 year tax statements and will ask where is the down payment coming from. This is extremly important, unless you qualify for 100% financing or an FHA home loan. If you prepare yourself correctly there is about a 90% chance that you will get approved for a new home loan. Visit the page listed below for more information. We assist borrowers with purchases after or during bankruptcy to get new home loans. http://www.lowermymortgageratestore.com/BANKRUPTCY_is_bad_FORECLOSURE_is_worse.htm


Is a car loan discharged under chapter 7 bankruptcy?

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".


Can you do a loan modification if you are in chapter 13?

A Chapter 13 bankruptcy puts the entire debt collection process on hold to give the filers time to work out a court-approved repayment plan for a portion of their debts. Thus, because the process is on hold, a loan modification can not be enacted while a mortgage is currently under the supervision of the Chapter 13 trustee. However, it is possible to negotiate a modification of a loan with the mortgage lender during the bankruptcy. But it will be necessary to have the bankruptcy case voluntarily dismissed before the modification can be finalized and put into effect. Banks may not be willing to negotiate with the borrowers under the circumstances of a Chapter 13, though.


Can a person get pre-approved for a home loan with a credit score of 567 if they are presently in chapter 13?

It's highly unlikely a lender would consider such a request. Additionally, while participating in a Chapter 13 bankruptcy, all major financial transactions must have the approval of the bankruptcy trustee before they can be undertaken.


Can you get a car loan after a chapter 7 bankruptcy?

Yes you can if you have a fair credit score.


How can one get a loan if they have declared bankruptcy?

Getting a loan after bankruptcy can be difficult depending on what type of bankruptcy one files. A Chapter 13 bankruptcy, one cannot even apply for credit during the length of the bankruptcy. In a Chapter 7 bankruptcy, that is a different story. One can file Chapter 7 bankruptcy and as soon as it is discharged can apply for credit. The only problem with getting a loan after bankruptcy is that you may have to have a co-signer until you build up some positive credit.