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  1. #1
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    Loan after bankruptcy

    Is it possible to get financing after a Chapter 7 Bankruptcy?

  2. #2
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    Quote Originally Posted by RBeyer View Post
    Is it possible to get financing after a Chapter 7 Bankruptcy?
    Would depend on what ya wanna buy. A car loan yes immediately after you bk is over with. I don't know about boat loans however.

  3. #3
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    for a boat you will need to wait a few year's and build your credit back up and have a large down payment unless you go with a shark

    mike

  4. #4
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    Quote Originally Posted by RBeyer View Post
    Is it possible to get financing after a Chapter 7 Bankruptcy?
    Absolutely, assuming a boat wasn't part of the BK. Join a credit union. Establish new credit. Might take a few years and you might pay a few points extra. Big banks and marine companies will not touch you with a 10' pole though.

  5. #5
    Charter Member # 55 Charter Member Griff's Avatar
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    People with good credit are having a hard time finding financing.

  6. #6
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    you have to finish first. Depending on what you wanted Im sure you could find it. I think you would have a hard time finding a bank to loan you 50k plus. Either way nobody big will touch you and I would prepare to have a nice interest rate of at least 10 or higher.

    Not to be a dick but if you just got out of chapter 11, is buying a boat really in the cards?
    Last edited by soldier4402; 08-21-2012 at 07:10 AM.

  7. #7
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    CNC is offline
    Fedoism Platinum Member CNC's Avatar
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    Perfect for someone coming out of bankruptcy... check out the rates on the upper right
    https://www.westernsky.com/

  8. #8
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    Pay back $62,453 for a $10,000 loan............Damn


    WwW

  9. #9
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    Talk about being scalped!

  10. #10
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    You declared bankruptcy to get out of debt and get away from toxic assets.

    Why the hell would you buy a depreciating asset aka a boat?




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