A common concern for so many people is can I get financing for homes/vehicles after I file Chapter 7 Bankruptcy? Now, this is a good question although ponder this question- Can you get financing to purchase a home/car now? Most cannot. For those that can, I ask if you could get financing for a home/car now would you pay higher interest or need a co-signer in order to get the financing? Most say yes.
My point is for the vast majority of Americans considering filing Chapter 7 Bankruptcy, your credit is already bruised and getting financing now may be impossible or impossible without brutal terms. Now, think about the world you will be in after your Chapter 7 Bankruptcy is over and you have received your Chapter 7 Bankruptcy discharge. You will have no debt.
Banks love people with no debt. Why? Because then they know you will be able to pay them back the money you borrow from them and they lend you. Make sense? So, yes, you can absolutely get financing for homes/cars after Chapter 7 Bankruptcy. Now, to get even better terms, have a deposit or a down payment and you can demand better financing terms.
We know of not one single client who is living on the street after Chapter 7 Bankruptcy. Instead, they go on to purchase homes, cars, businesses and almost anything else you can think of. They seek and obtain financing all the time after Chapter 7 Bankruptcy. When you go from a position of debt to no debt you always improve your credit profile and make yourself attractive to future lenders.
When the time is right, or when you are ready, reach out to the law firm in Minnesota known for the BEST CUSTOMER SERVICE of any bankruptcy law firm in Minnesota by contacting us at www.kainscott.com. You will be so happy you did.