2006-12-09 17:35:52 · 9 answers · asked by tc 1 in Cars & Transportation ➔ Insurance & Registration
Yes, my friend filed bankruptcy. She has since bought a new car and has full coverage insurance.
2006-12-09 17:37:29 · answer #1 · answered by maamu 6 · 0⤊ 0⤋
Yes. You will need to find a dealership that offers offers to bankrupt individuals. You should have no problem with the car insurance.
2006-12-10 01:38:38 · answer #2 · answered by DO YOU KNOW WHERE GARY IS? 3 · 0⤊ 0⤋
Absolutely. You'll just have problem
1) Getting a loan for the car and pay it off over time
2) Paying your insurance monthly, instead of a single lump-sum payment.
In other words, if you pay cash, nobody cares if you're bankrupt or not. It simply won't come up.
2006-12-10 02:49:28 · answer #3 · answered by Kasey C 7 · 0⤊ 0⤋
Yes. You may not be able to buy insurance from the premium companies like State Farm but there are hundreds of companies that will cover you. Some advice: pay cash for your car this time.....
2006-12-10 13:24:55 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yes, after the Bankruptcy has been discharged. If you are making payments to a Trustee, under your BK plan, you must first get the Trustee's permission. If you do not your BK plan can be challenged...big problem. Creditors will claim that if you can afford a car you can afford to pay more into the plan. Keep a low profile until BK is discharged after that you may do what you wish with no consequences unless you suddenly discover you have a million dollars. Check with your BK lawyer, you paid him he will advise you free.
2006-12-10 01:46:10 · answer #5 · answered by avalonphillip 2 · 0⤊ 0⤋
Sure. Actually, it's usually quite easy to get credit after filing bankruptcy. After a bankruptcy is discharged you can't file another one for 7 years. Creditors know this so they know that they'll get their money. The down-side is that your interest rate will be very high for the first several years. Be very careful or you will find yourself back in debt up to your ears WITHOUT the option of bankruptcy.
2006-12-10 03:01:13 · answer #6 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Since you can only file for bankruptcy every 7 years, many dealers will sell you a new car right after you have finished a case. At that point, they have nothing to lose.
2006-12-10 01:46:42 · answer #7 · answered by riddler2237 4 · 0⤊ 0⤋
Yes you can if you can find someone to finance it for you.
2006-12-10 03:04:57 · answer #8 · answered by trumannal 1 · 0⤊ 0⤋
yes to both ques.
2006-12-13 22:30:43 · answer #9 · answered by arlene 3 · 0⤊ 0⤋