Cuckee.com » Bankruptcy

Applying for car loans after filing for bankruptcy

cooldude — Tue, 10 Aug 2010 21:54:38 +0000

Filing for bankruptcy may be a practical way out when you have a lot of financial liabilities. But a fact may often cross your mind about whether you are eligible to apply for a car loan right after filing your bankruptcy or not. The fact is that it can be quite a tricky job to get a loan after you declare yourself bankrupt. But that does not mean that you can’t have access to money at all.

To make your case stronger, all you need to do is start rebuilding your credit status after declaring yourself bankrupt. Another major consideration is your affordability. You should only go for a car for which you will be able to afford the monthly payments with ease. Going for an over priced car will only add to your problems. You can also get in touch with a reputed car loan lender who will guide you through the whole process quite effectively and help you get the loan sooner.

Alternatives to filing bankruptcy

cuckee — Sun, 03 May 2009 07:33:18 +0000

Unplanned loans, fall in income etc contribute to the problem of payment of debts.
There are many options left before a person files bankruptcy .A few alternatives to filing bankruptcy are as follows:-

• Selling out old car

• Renting out rooms in our guest house and earn some money for payment of dues

• Selling share equities which we own

• Finding work which can be done after our office hours are over and get paid for it.

• Surrendering insurance policies to get cash for payment of dues

• Selling out our home and staying in a rented place

• Take loan from our family friend or relative on a condition of payment on a future date

• Cash out refinance is also a good option, here the homeowner mortgages his house at a higher value than previous mortgage and uses the extra money to pay out his debt

Finally, the last option which remains is selling the jewelry of the house