I got a new car, made the first payment, but can't afford the car anymore. Can I still file for bankrupty after just making 1 payment?
2007-11-10 11:11:38 · 6 answers · asked by norsgl81 1 in Business & Finance ➔ Credit
If You can't afford it now,You couldn't afford it then. Are You thinking You are going to get the car for free?Keep paying on the car and try to sell it and buy something that You can afford....
2007-11-10 11:17:48 · answer #1 · answered by phockit47 4 · 1⤊ 0⤋
If you knew you couldn't afford the payments when you bought the car, that's fraud. If you file for bankruptcy, the courts will force you to make the payments since it's new. You got yourself into a situation that you can't get yourself out of.
2007-11-10 22:00:47 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Don't file for bankruptcy! It's a trap.
Work it out. Call the finance company. Tell them you want them to take it back. Clean it meticulously, as well as you possibly can. Do your best to make it look perfectly new. The finance company will sell it for what they can get out of it and you'll owe them whatever's left on the loan.
It'll be a ding against you on your credit report, but it won't be nearly the disaster that a bankruptcy would be. Call the lender and make arrangements before you start missing payments. That looks very bad on your credit report.
2007-11-10 19:23:29 · answer #3 · answered by Dinky 3 · 0⤊ 0⤋
God I hope not!!
If your finances were so bad that you were on the verge of bankruptcy, why in the world would you buy a car? Especially one you couldn't afford!
You are in need of some serious budgeting and financial management instructions.
2007-11-10 21:22:28 · answer #4 · answered by bdancer222 7 · 2⤊ 1⤋
Of course you can! Money Management.
2007-11-10 19:51:19 · answer #5 · answered by tsportsstar01 2 · 0⤊ 0⤋
Sure you can. but you'll lose your car
2007-11-10 19:20:53 · answer #6 · answered by mAD~mOD 5 · 0⤊ 0⤋