Posted on: 11th Jan, 2012 12:54 am
We are getting ready to pay off our Ch 13 plan in a few weeks and I’m glad for that. I just want to know what I should do next. Last week, when I pulled the reports, everything seemed to be reporting fine. Now I want to take out an auto-loan to buy a car for myself. I hope I won’t be facing any issues in that.
While in a Chapter 13 debt repayment bankruptcy, you must consult the bankruptcy trustee before engaging in a major financial transaction, such as the purchase of a vehicle.
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hi queeny,
you should note that immediately after a chapter 13 bankruptcy discharge, you won't be able to qualify for a new loan. you will have to wait for 1-2 years in order to qualify for an auto-loan. meanwhile, you can take steps in order to improve your credit score.
thanks,
jerry
you should note that immediately after a chapter 13 bankruptcy discharge, you won't be able to qualify for a new loan. you will have to wait for 1-2 years in order to qualify for an auto-loan. meanwhile, you can take steps in order to improve your credit score.
thanks,
jerry
