2007-01-15 08:17:31 · 14 answers · asked by melissa c 1 in Business & Finance ➔ Personal Finance
No, depending on which chapter you file, all debt incurred in the last one to two years is not absolved in the process of a bakruptcy.
2007-01-15 08:20:11 · answer #1 · answered by SchrodingersTigress 5 · 2⤊ 0⤋
Morally this would be a very very bad thing. Most loans include a clause that states something along the lines of "you are not currently in, or plan to file bankruptcy" ... so taking the loan with the intent to defraud by filing bankruptcy can seriously get you into some deep troubles
2007-01-15 16:22:38 · answer #2 · answered by Theresa C 1 · 2⤊ 0⤋
By doing so you might not be allowed to clear your debt by bankruptcy. If you are able to pay back a loan then you are not eleigible to file bakruptcy. If you take out a loan and then file that is fraud and you can be sure will effect your entire banruptcy.
It sounds like you need some leagal advice. Go call a lawyer
2007-01-15 16:23:21 · answer #3 · answered by mutvulture 3 · 0⤊ 0⤋
I'm a lawyer. Any loans you make within one year of bankruptcy will not be cleared by bankruptcy. Also, with the new law changes you can't get out of any credit card debt. Give a big thanks to the Republicans for that.
2007-01-15 16:21:51 · answer #4 · answered by Larry62 5 · 1⤊ 0⤋
If you are to the point of filing bankrupcy I doubt you will be approved for a loan... But keep in mind, you wont want to file for another 3 months if you did get the loan, a lot of judges would frown upon that one...
2007-01-15 16:21:16 · answer #5 · answered by Jessica 4 · 0⤊ 0⤋
Yes, technically you can take out a loan. But if the creditor finds out that you took out a loan knowing that you'll file for bankruptcy, you'll probably get sued for fraud.
2007-01-15 16:20:40 · answer #6 · answered by Anonymous · 2⤊ 0⤋
Yes, but if your credit is so bad you can't make payments you probably won't get one; and remember the bankruptcy judge has some leeway as to which debts are absolved, and he might not "forgive" something if he thinks it borders on a fradulent use of bankruptcy.
2007-01-15 16:20:50 · answer #7 · answered by wizjp 7 · 1⤊ 0⤋
If you take out a loan, knowing that you are filing for bk, then you have committed fraud, and could be arrested. Most people that are filing for bk, cant get loans however.
2007-01-15 16:20:45 · answer #8 · answered by Anonymous · 2⤊ 1⤋
yes but if you file for bankrupcy within 6 months of taking that loan out you can not include that loan on the bankrupcy.
2007-01-15 16:20:39 · answer #9 · answered by silentjealousy77 4 · 1⤊ 0⤋
FRAUD!
Should be ashamed of yourself. Even thinking of piling more debt onto unsuspecting public who has to pay for your defaulting. The money has to come from somewhere if it doesn't come from you.
Probably wouldn't qualify for one anyway if you're that much in the hole that you have to default on what you legally owe already and what was loaned to you in good faith.
2007-01-15 16:27:40 · answer #10 · answered by parsonsel 6 · 2⤊ 0⤋