Approximately how long does it take to receive your certificate after "discharge"? Our "60 day" date is 12/31. Won't a car dealer want to see the certificate if they choose to finance us?
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Probably not, they can and will pull up your credit history. They don't care USUALLY discharged or not to try and sell you a car along with a high interest rate!
CatchmeifyoucanJuly 2006: Filed Ch13 :blink:
Oct 2006: Converted to Ch7 :clapping:
Jan 2007: DISCHARGED :clapping:
Nov 2007: CLOSED :yahoo::yahoo::yahoo: -
So if some don't care whether you are discharged or not, then the "high" rate wouldn't change much at all before or after discharge, correct (before credit rebuilding)?Comment
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Discharge Cert/Interest Rates
Approximately how long does it take to receive your certificate after "discharge"? Our "60 day" date is 12/31. Won't a car dealer want to see the certificate if they choose to finance us? Also, I know of the "high" rates we are about to incur. But is there much difference of interest rates between "before discharge (waiting period)" or "after discharge" (discharged but before any credit rebuilding).Comment
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Teddy, I merged your two threads asking the same question here so that all your answers will be in one location in the forum that matches your question best - Buying a Car After BK.
Our members look through all the forum areas, so there's no need to post the same question more than once. Thanks!Last edited by lrprn; 11-24-2007, 03:40 PM.I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
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Your Discharge papers should arrive within a week or so of the 60 day mark. You may not necessarily need the discharge in hand if you need to buy a car, but it never hurts to have in handy.
With the interest rates.....I wouldn't worry about if the rate is better before or after discharge because you'll more than likely have to wait until after discharge. There are not too many lenders that will finance you while in active BK. Anyways, the rate you'll get is hard to pinpoint because we've all had very different rates. Some were under 10%, some between 10% and 20% and some were just over 20%. Take some time to read through the Buying A Car section of the forum and do your homework before you go shopping.Bankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain
All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.Comment
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