can a person get car finance whilst bankrupt?

Question

ive been bankrupt but i did not declare my car was not paid for to courts because it was on finance i manage to pay for it after been declared bankrupt. iam now ready for a new second hand car will i have to wait untill the bankrupticy ends or can i get car finace before hand

Answer 1

It's a criminal offence to obtain credit of £500 or more either alone or jointly with any another person without
disclosing your bankruptcy. However, as long as you do declare it, you will find someone eventually who will lend, though at a horrendous rate, I suspect.

You have actually already commited an offence in not telling the courts about your car. I'd keep my head down and soldier on with what you've got, if I were you, or you might find your Receiver asking awkward questions about how you managed to afford a new one.

Answer 2

Pretty sure that you will find all financial solution at= loandirectory.info-

RE Can a person get car finance whilst bankrupt?

ive been bankrupt but i did not declare my car was not paid for to courts because it was on finance i manage to pay for it after been declared bankrupt. iam now ready for a new second hand car will i have to wait untill the bankrupticy ends or can i get car finace before hand

Answer 3

What Wilfred B and Colin M said above. Both good advice.

If you lied to the Official Receiver when you was made a bankrupt then you have already committed a serious criminal offence. The car and the remaining payments should have been mentioned. I wouldn't recommend adding to your list of offences by trying to obtain fraudulent credit.

I wouldn't have thought you would get finance unless you committed another criminal offence and lied. The Official Receiver can watch your fianances for about three years I believe it is and if your circumstances change (a lottery win, bequest in a will, new and higher paid job) then they are entitled to take some of it back to cover your debts. That's what I was told anyway, and I've been there, done it and got the T-shirt.

Answer 4

If some bank is willing to give financing to a known bankrupt person who ditched their debts recently then you can get a loan.

You'll probably have to look hard and pay more in interest because you're now a bad risk.

Start calling round to banks and all.

Perhaps you should just make due with the car you have and not get a 2nd one.

Answer 5

anyone nowadays can get finance, but beware as you will be paying the top APR and also if the car has to be repossessed, some companies still demand the full amount still. I have been done by this.

It is best just to save so much and buy a second hand used car for a couple of hundred.

Answer 6

dont think so I was under the impression thats once you are bankrupt they will keep an eye on your finances and if you ar seen to buying a new car etc they can come take it away from you!! just be careful xx

Answer 7

If you can make your payments hold on to your current car. You should conserve as much cash as possible after your bankruptcy and preferably pay cash for an inexpensive car when you need a replacement.

Answer 8

you cannot obtain finance without declaring you are a bankrupt and failing to declare you had a car during the bakruptcy proceeedings was a criminal offence also. and even when you banko ends you still have to decalre you were subject to banko in the past

Answer 9

Yes sure, we can help. Our lender offer car finance specialised for adverse bad credit history. Visit our site to find out more: http://www.direct2finance.com/carfinance.html

Answer 10

There is always some loan shark roaming the planet .

You can always get loans , the question is ,
How much % will you be paying ?

Figure on giving the shark all your $$$$ for months .

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