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Chapter 7 bankruptcy stays on your credit report for a maximum of 10 years and a Chapter 13 bankruptcy filing stays on your credit report for up to seven years.
What happens to your auto loan if you file for bankruptcy. The lender may repossess your car if you file for Chapter 7 and aren’t in good standing with your auto loan. Your vehicle won’t be ...
A personal bankruptcy filing is a serious matter. It can stay on your credit report for seven to 10 years, during which time it can cause your credit score to plummet. And a damaged credit score ...
The bureaus also recommend looking into so-called credit builder loans. According to CNBC, these specialty loans come with fixed monthly payments, the same as personal loans and car loans. But ...
The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
A bankruptcy will make it harder to get loans or credit in the future, and your rates will be higher if you do qualify. Chapter 7 bankruptcy can stay on your credit reports for 10 years, while ...