How Soon Can I Finance A Car After Bankruptcy?
Attorney Michael Ziegler explains that. Bankruptcy filers are usually able to finance a vehicle immediately after bankruptcy. In part, this is because the vehicle finance companies are aware that a consumer can only file a chapter seven bankruptcy once every eight years. In addition, they know that the bankruptcy filer doesn’t have any other debts. This makes them a safe bet, so to speak. However, while bankruptcy filers might be able to obtain lending very quickly after bankruptcy, consumers should be cautious about the nature of the loans that they qualify for. The loans that are available to them immediately after a bankruptcy filing may have higher interest rates and more aggressive terms.
The impacts of falling behind on payments in a chapter 13 case vary depending on the circumstances. If it is the first time that the filer has fallen behind and they are only a few days behind, there may not be any impact at all. If the filer has fallen behind several times and they are several months behind, then it could result in a dismissal of the case. Usually, if a consumer is falling behind, they should communicate with their attorney so that proactive steps can be taken. They should try to get their payments back on track as quickly as they’re able to. Contact attorney Michael Ziegler in Florida for a free case evaluation today. He founded his law firm on the principles of professional quality and personal care.
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