How To Get A Credit Card After Bankruptcy

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  alfredb1979 posted: 31 Aug at 3:34 pm

  Depending on state laws, that car could get taken away to pay creditors.

  Also, with the new bankruptcy guidelines, she has to verifiably make less than the state average income to be granted bankruptcy protection.

  That’s tough to prove with a recently bought car.

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  insidebuy posted: 31 Aug at 3:48 pm

  Bankruptcy laws have changed over the last few years. It now takes a lot more to qualify than before. Having more debt than assets will not always work today. And making a major purchase on a credit card just before filing will get her in a lot of legal hot water. The law really comes down hard on someone making a purchase with the intent of taking the lender down in a BK.

  And it’s also up to the judge to decide what can be part of the BK. If the car isn’t included, your friend will have to continue paying for it. If she can’t afford it, it goes into repo which will destroy her for a very long time. She’ll have a BK and a repo on her credit report. And those two will haunt her for well over a decade, if she’s not behind bars for intentionally taking down a lender.

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  Scott H posted: 31 Aug at 4:02 pm

  There is language in the US Bankruptcy Code that prevents people from running up credit cards then filing bankruptcy to avoid paying the debt. She may find herself in big trouble because the court won’t allow her to include that debt in her bankruptcy. Besides, buying something with no means or intent to pay for it is fraud at best, theft at worst.

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  Ed Atun posted: 31 Aug at 4:08 pm

  I asked the dealer if i could buy a car on my credit card. He said no. It is too dangerous. You leave with the car and then call the card company to cancel the charge. He said that , in rare instances, he might accept 49% of the price on a credit card.
  But your friend can declare bankruptcy and walk away from many bills..

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