My wife as I stated has almost perfect credit with a 740 credit score BUT she doesnt make the money. I however filed for bankruptcy a chapter 13 1 year ago and it has not been discharged yet. What are the chances of us obtaining a loan either before my debts or discharged or shortly after?
Or do you think it would be possible for my wife to obtain a loan on her own legally in some kind of no income stated program?
Thank you and your answers are very much appreciated.
2006-06-07 09:51:56 · 9 answers · asked by ncblkgy 3 in Politics & Government ➔ Law & Ethics
Hi! I deal with a similar situation between my husband and I. Therefore, you are totally NOT alone! There's no reason your wife shouldn't be able to obtain a loan since she has great credit. Unfortunately, as you already know, your chances are not as good. Don't fret though, you'll eventually build yours up. Be grateful your wife has great credit. Some couples have no help as they both have horrible credit, you know?! Just go forward with processing the loan in her name, regardless of her income. A bank can better advise you too, so seek their help. You'll never fully know till you try. So go out there and get you a loan! Good luck to you and your wife!
2006-06-07 09:58:05 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I would advise you to take out a loan immediately after your file for bankruptcy is discharged and also if you can, try to have your wife file for a loan on her own to better your chances to receive a loan. You should consult a credit counselor in your state because the loan guidelines varies in each state. Good luck. I hope everything works out.
2006-06-07 09:58:03 · answer #2 · answered by sam 7 · 0⤊ 0⤋
Hmmmmm...your chances increase with a sizable downpayment. You will probably pay higher than average interestes either way. It also depends on what kind of loan you are talking about. For instance, a car loan would be a lot easier to aquire than a home loan.
2006-06-07 09:57:23 · answer #3 · answered by Aaron G 2 · 0⤊ 0⤋
if your bankruptcy has not beem discharged yet it is best to let her get the loan find out why your bankruptcy is still active first your chances are still not bad my mother and father had the same situation and they got approved for aloan for a new house
2006-06-07 09:58:17 · answer #4 · answered by frances g 2 · 0⤊ 0⤋
after discharged there is a chance depending on how large the loan will be
2006-06-07 09:54:44 · answer #5 · answered by Shopaholic Chick 6 · 0⤊ 0⤋
Your chances are half/ half unfortunately. Some creditors do go by both credit. If may cancel each other out. Good luck.
2006-06-07 10:01:17 · answer #6 · answered by voice_of_truth_777 2 · 0⤊ 0⤋
You can get a loan together ...it's the interest rate you'd better be worried about.
If she doesn't have the income to back it...she won't get approved alone regardless of what her rating is
2006-06-07 09:56:38 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Your chances are good!! Good Luck :)
2006-06-07 09:53:28 · answer #8 · answered by Anonymous · 0⤊ 0⤋
you can try, no harm costs nothing
2006-06-07 09:54:56 · answer #9 · answered by baldyhugsblues 5 · 0⤊ 0⤋