|
Typically, a person who is considering
a bankruptcy is overwhelmed with debt and is unable to procure a loan to
purchase a vehicle. By
filing a bankruptcy, one can relieve oneself of all debts which are
dischargeable.
Lenders today find consumers with no
debt to be more attractive than consumers who are overburdened with numerous
obligations. Usually
a debtor can obtain a loan for a vehicle upon receiving a discharge in
bankruptcy typically six months after filing. Recently
however, I have had occasion to run into lenders who will even make loans for
vehicles while a party is still awaiting their discharge in bankruptcy.
|
