Can I Buy or Refinance a Car During Chapter 7 Bankruptcy?
If you're considering filing for Chapter 7 bankruptcy, you may be wondering what will happen to your car. Can you keep your car after filing? And can you buy or refinance a car during Chapter 7 bankruptcy?
Here's what you need to know about buying and financing a car during Chapter 7 bankruptcy.
While it's possible to finance a car during Chapter 7 bankruptcy, it's not always easy. Lenders are often reluctant to extend loans to people who are in the midst of a bankruptcy proceeding. So if you're looking to finance a new car, you may have to shop around for a lender who is willing to work with you.
If you're hoping to refinancing your existing car loan, that may also be difficult to do during Chapter 7 bankruptcy. Again, lenders are often hesitant to work with people who are going through bankruptcy proceedings.
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