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A reaffirmation agreement allows you to modify the terms of your loan to make repayment easier during and after Chapter 7 bankruptcy. A car loan will allow you to keep your vehicle as long as you ...
Even after your bankruptcy file gets discharged, some lenders might require you to wait an additional 12 to 24 months to apply for an auto loan. How Bankruptcy Affects Your Car Loan Eligibility
Loans, medical debt and credit card debt are generally all able to be discharged through bankruptcy. Tax debt, alimony, spousal or child support and student loans are all typically ineligible for ...
3. Auto loans. After personal loans, focus on paying off auto loans next if it makes sense. The average car loan rate is 8.40% for five-year terms and 8.76% for six-year terms, with the average ...
When you're going through bankruptcy, applying for a loan might be the furthest thing from your mind. "People can absolutely recover from bankruptcy," says Jordan van Rijn, senior economist at the ...
From there, two potential consequences could occur: a case dismissal or conversion to Chapter 7 bankruptcy. Case dismissal. After one or more missed Chapter 13 payments, the trustee may file a ...
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