It is very risky and difficult for one to get a bank loan after going bankrupt.
But you can actually go for a loan considering what kind of business or project the
fund is to be invested on. Besides before this loan can be granted to you, they
have to be collaterals and security measures put in place outside the other
business collaterals that led to your bankruptcy in order to prevent re
occurrence or loss.
A "reaffirmed loan" is a loan that the claimant in a bankruptcy has left out of the bankruptcy and is "reaffirming" that they will still pay the loan as usual.
If creditors believe the person is trying to remove funds from accounts to keep them from bankruptcy proceedings; creditors can petition the court to freeze all accounts/assets. A bank cannot arbitraily seize account funds unless the depositer has a loan with the bank which includes a set off provision. Even then the bankruptcy trustee can request the funds be returned and included as assets in the bankruptcy.
Try searching your credit report for info. Last resort would be to go to Lawyer that filed your bankruptcy.
Metropolitan Bank (or any bank, really) will not cancel a loan unless (1) you successfully are discharged from a Chapter 7 bankruptcy or (2) you defaulted and the bank decided to write it off after collection efforts. If your account was cancelled and you still have a loan outstanding, you are still responsible for making payments on that loan.
What you need to do is get a new loan from a different bank and work it out with the car dealership. If no bank will fund you, then you have no choice but to turn over the car - since there isn't a bank to pay them for the car, they can take it back.
Of course.
Someone will buy the loan from the bank. Unfortunately, they don't just go away.
It is not possible to say what an average loan is that a bank will offer after bankruptcy. This is because each situation is different and the bank will judge the request on its individual merits.
To obtain a bankruptcy home loan one could make an appointment with their local bank to talk to an advisor. One could also make an appointment with a bankruptcy lawyer.
While you are a bankrupt you can not legally take out a personal loan. Further before issuing you with a loan (even after your bankruptcy has cleared) all banks will perform credit checks and they will probably refuse you credit (the loan) on the basis of your history.
Bankruptcy will prevent a foreclosure but you still have to reaffirm the loan and begin paying or the bank will repossess your house regardless of bankruptcy. Bankruptcy temporarily halts the process for up to a couple months.
The bank should not have your car title if it is paid off. If you declared bankruptcy and it was discharged, your bank credit card account should be dismissed.
If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.
A "reaffirmed loan" is a loan that the claimant in a bankruptcy has left out of the bankruptcy and is "reaffirming" that they will still pay the loan as usual.
Not enough information is disclosed about the situation in order to answer. If you have an attorney assisting you in your bankruptcy ask them.
Yes, Weekenders ceased operations as of noon on Monday, June 9th. An international bank called its loan, forcing the bankruptcy. I am devastated!
You can receive a car loan after declaring bankruptcy by applying to any bank that offers the option. However you might have to rebuild your credit score first, or just have a co-signer with amazing credit.