loan?
If you have gone through chapter 7 bankruptcy and you need to buy a new car, can you get a loan if someone co-signs the loan with you?
2006-10-06 12:05:23 · 8 answers · asked by nwafanusa1 2 in Business & Finance ➔ Credit
If this car is under $10k and is bought on a loan with no more than 10% down...your co-signer is take risk on it though...after filing Ch-7, basically, they can't do any but denied your apps...but your "someone" is taking full responsibilities of your payments. If you are late even one payment, it will go on his/her credit score...
2006-10-09 14:19:31 · answer #1 · answered by Mimi 4 · 0⤊ 0⤋
1
2016-09-26 14:03:34 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Information on Chapter 7 Bankrupt
Chapter 7 bankruptcy is the commonest denotation of bankruptcy. It stands for waiving or canceling of debts that you have incurred. As an individual, you can select between Chapter 13 or Chapter 7 bankruptcy. Selecting between the two is not easy. The bankruptcy court will study your circumstances before deciding which type of bankruptcy is applicable to you.
2006-10-07 00:42:30 · answer #3 · answered by sing i 2 · 0⤊ 0⤋
it really depends on how good is your co-signer's credit. he would be the primary borrower. if he has good credit, he can get an interest rate in the single digits. by yourself, coming out of a CH.7, you would be in the high teens or in the twenties.
2006-10-06 12:16:49 · answer #4 · answered by Ruby 2 · 1⤊ 0⤋
yes the reason you need a co signer is because who ever is giving the loan knows your a loser and that the person signing will pay up if you don`t.You signature really means nothing.Basically the co signer is buying what ever
2006-10-06 12:10:30 · answer #5 · answered by xlhdrider 4 · 1⤊ 1⤋
yes if that person's credit is A1 you could get a decent rate, i hope he knows what he is doing, because if you default on the loan he has to pay the piper.
2006-10-06 13:20:04 · answer #6 · answered by glasgow girl 6 · 0⤊ 0⤋
Not until 3 years after discharge
2006-10-06 12:14:07 · answer #7 · answered by Bogie Boy 3 · 1⤊ 1⤋
I wouldn;t co sign for you, you have already proven that you don't pay your debts, why would I risk my money on your trackrecord.
2006-10-06 12:28:26 · answer #8 · answered by ? 6 · 1⤊ 1⤋