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Loan after bankruptcy

Old 08-18-2012, 07:54 PM
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Default Loan after bankruptcy

Is it possible to get financing after a Chapter 7 Bankruptcy?
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Old 08-19-2012, 08:36 AM
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Originally Posted by RBeyer
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.
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Old 08-19-2012, 09:47 AM
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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

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Old 08-19-2012, 06:59 PM
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Originally Posted by RBeyer
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.
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Old 08-20-2012, 12:43 AM
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People with good credit are having a hard time finding financing.
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Old 08-20-2012, 08:05 AM
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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.
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Old 08-20-2012, 05:16 PM
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Perfect for someone coming out of bankruptcy... check out the rates on the upper right
https://www.westernsky.com/
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Old 08-20-2012, 06:14 PM
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Pay back $62,453 for a $10,000 loan............Damn


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Old 08-20-2012, 06:16 PM
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Talk about being scalped!
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Old 08-20-2012, 06:22 PM
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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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