how long does it take to borrow money after filing a chapter 7 bankruptcy?
pickle_pickle200
2005-12-13 17:51:54 UTC
how long does it take to borrow money after filing a chapter 7 bankruptcy?
Two answers:
Charlie
2006-01-09 23:38:37 UTC
Legally, you can borrow money the same day you file bankruptcy. Keep in mind that no company would give you an unsecured loan or line of credit for a long time after filing bankruptcy. Your best bet is to get a secured loan where you put down collateral (such as your house or car) and the bank loans you the money and holds your collateral until you pay them back. However, if you don't successfully pay the loan back they can forclose on your house or car and sell it to pay off your loan. The second option is to get a credit worthy friend or relative who has good credit to co-sign on your loan. Just make sure to pay it back on time or the person who co-signs will get the delinquency placed on their credit report as well as your credit report.
bob
2005-12-13 17:53:00 UTC
As little as 1 day
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