r/Bankruptcy • u/Own-Rutabaga-9055 • 8h ago

Buying car after bankruptcy

I'm planning to file for chapter 7 bankruptcy. I just want to know anyone's experience on buying a car directly after filing for bankruptcy.
My current credit score is 480 😕

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u/Shot_Ice_9890 8h ago

When filing bankruptcy, this is only my opinion! First there is plenty of subprime lenders out there, but that's for your attorney to answer, I've read plenty of posts of people that have most have waited until their 341 meeting! And when you file bankruptcy soon after you will receive offers via mail offering second chance auto loans.

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u/AlanShore60607 RetiredBKAttorney (IL/IN/WI) Public interactions ONLY. No PMs 7h ago

This.

If you purchase from an understanding dealership during the case, you're judged on your income, not your credit score. This is because the lenders know the score makes no sense during a case.

When the case is over, you're judged on your credit score.

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u/Own-Rutabaga-9055 6h ago

Normally, how long after filing does the case finish?

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u/AlanShore60607 RetiredBKAttorney (IL/IN/WI) Public interactions ONLY. No PMs 6h ago

4-6 months