Notices

Buying boat after BK

Old 12-19-2007, 09:32 PM
  #1  
Registered
Thread Starter
 
Join Date: Aug 2006
Posts: 36
Likes: 0
Received 0 Likes on 0 Posts
Default Buying boat after BK

sw

Last edited by sun west; 12-23-2007 at 03:16 AM.
sun west is offline  
Old 12-20-2007, 08:02 AM
  #2  
VIP Member
VIP Member
 
texaschopper's Avatar
 
Join Date: Aug 2005
Location: Miramar Beach
Posts: 540
Likes: 0
Received 0 Likes on 0 Posts
Default

Very difficult. Subprime banks will take a look if you have re-established yourself after 2 years. Limit is 40K interest is absured, no performance boats.

Other then that your looking at least 5 years.
texaschopper is offline  
Old 12-20-2007, 09:19 AM
  #3  
Forum Regulator
VIP Member
iTrader: (1)
 
Sydwayz's Avatar
 
Join Date: May 2001
Location: Worldwide
Posts: 22,840
Received 48 Likes on 22 Posts
Default

There is some company out of Florida, called International Marine 'something-or-another.'

They go down the list of the OSO classifieds, and call the private sellers offering to mate them with "buyers with past credit hurdles who will take over payments for two years" then take over the note.

That's all I know about them. Perhaps someone else would have some info. I have no idea how this works exactly, nor any idea how 'safe' this practice is for the owner/seller of the boat.
Sydwayz is offline  
Old 12-20-2007, 12:48 PM
  #4  
Registered
 
Join Date: Jan 2007
Location: Mansfield, TX
Posts: 5,881
Likes: 0
Received 0 Likes on 0 Posts
Default

The whole purpose of bankruptcy is to get out of debt..................
TexomaPowerboater is offline  
Old 12-20-2007, 01:30 PM
  #5  
Registered
 
Join Date: Apr 2007
Posts: 2
Likes: 0
Received 0 Likes on 0 Posts
Default

Buying a boat after a B/K is tough, but not impossible. Normally a minimum of 3 years is necessary after the B/K with re-established Installment loan (s) and no additional delinquent credit.
Legal Tender is offline  
Old 12-21-2007, 01:59 PM
  #6  
CNC
Registered
 
CNC's Avatar
 
Join Date: Sep 2003
Location: Ludington, Mi.
Posts: 574
Received 0 Likes on 0 Posts
Default

You should NEVER be allowed to own a luxury item like a boat, RV etc. after a bankruptcy. How much were your creditor screwed out of? Maybe after your creditors were payed back. Having been "SCREWED" out of THOUSANDS by people that bailed I'm bitter. Lets bring back debetor prisons.
CNC is offline  
Old 12-21-2007, 05:59 PM
  #7  
Registered
Thread Starter
 
Join Date: Aug 2006
Posts: 36
Likes: 0
Received 0 Likes on 0 Posts
Default CNC Know who your talking to!

sw

Last edited by sun west; 12-23-2007 at 03:16 AM.
sun west is offline  
Old 12-21-2007, 06:29 PM
  #8  
Registered
Thread Starter
 
Join Date: Aug 2006
Posts: 36
Likes: 0
Received 0 Likes on 0 Posts
Default P.S For CNC

sw

Last edited by sun west; 12-23-2007 at 03:17 AM.
sun west is offline  
Old 12-21-2007, 06:50 PM
  #9  
Registered
 
Join Date: Aug 2006
Posts: 1,348
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by sun west View Post
#1 A 27 Baja isn't a "performance boat.
marylandmark is offline  
Old 12-22-2007, 03:31 PM
  #10  
Registered
 
Join Date: Jun 2005
Posts: 21
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by CNC View Post
You should NEVER be allowed to own a luxury item like a boat, RV etc. after a bankruptcy. How much were your creditor screwed out of? Maybe after your creditors were payed back. Having been "SCREWED" out of THOUSANDS by people that bailed I'm bitter. Lets bring back debetor prisons.
Hmmm wow, I have know known many good people that have filed BK due to Job loss, out of control medical bills... issues that were totally out of their control. I would not have any issues loaning these folks money as they are very credit worthy.

As far as NEVER allowed to get back on your feet after a devasting life issue is totally insane. After all we live in America right? Well at least I do, not sure what country CNC is from... CNC
ikanscuba is offline  

Quick Reply: Buying boat after BK


OSO Sponsor
OSO Advertiser
OSO Advertiser

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.

OSO Advertiser