What kind of car and how big a loan can I get? There are no restrictions on the type of car you buy, except that you have to be able to afford it! Affordability depends on your payment-to-income and debt-to-income ratios, which are what lenders look at when evaluating your applicati...
We specialize in helping people get connected to lenders that know how to work through unique credit situations. Many of our network partners have options for all types of bad credit situations, including bankruptcy car loans. Typically, we can get back on track with a great vehicle loan rebuil...
Student loans Government debts like tax debt, fines or penalties Child support and alimony Secured debts like your home mortgage or a car loan (you’ll have to either sell them to pay your lenders or negotiate payments to keep them) Expensive items purchased right before filing bankruptcy, like...
Bankruptcy can also have a serious impact on credit. Because lenders view bankruptcy negatively, it could limit someone’s ability to apply for financing in the future. If they are approved for a loan, it’s likely they’ll have less-than-favorable terms and a higher interest rate. Depending...
In the U.S., bankruptcy is a legal process handled in federal court in which an individual or business can have their debt forgiven or restructured. Through this process, lenders may also be able to recoup some form of repayment on missed loan payments. In theory, bankruptcy can be a posi...
Unluckily, however, lenders saw this law as giving fewer payments to them and forgiving so much debt for so many debtors. Consequently, Congress repealed the law in 1843. After the Civil War and a second financial panic, Congress tried again and enacted The Bankruptcy Act of 1867. This law...
3. I will not be able to obtain credit again. It will not be long before you will be getting credit card offers again. They will just be from lenders that will charge high interest rates. 4. All of my debts will be discharged in a Chapter 7 bankruptcy. ...
Bankruptcy Restructuring and Guarantee Liability: Issues for Debtors, Borrowers, Lenders,... April 2, 2024 • CLE • CLE On-Demand, Download This CLE webinar will discuss the legal and economic issues related to the treatment and enforcement of personal and intercorporate guarantees before, dur...
Our Colorado foreclosure lawyers and their teams of experienced legal staff have experience in representing lenders, lien holders, homeowners’ associations (HOA’s), governmental entities, and property owners in these proceedings, as each has differing rights and interests. Call us at 303-688-3045 ...
your credit is probably already damaged. But it's worth noting that a Chapter 7 filing will stay on yourcredit reportfor 10 years, while a Chapter 13 will remain there for seven. Any creditors or lenders you apply to for new debt (such as a car loan, credit card, line of credit, or...