Think you'll be stranded with no way to get a loan if your car dies soon after your bankruptcy? If so, read this…
A past client called me last night to thank me for taking her through her Chapter 7 bankruptcy. Why? Because her 12-year-old high-mileage car died last week and she went right out and bought a great two-year old car, loan and all. I checked her file and found that she got her discharge of debts on January 6 of this year, and it's now April 21 (April 15 when she got the car). That's three months plus about a week since her discharge of debts in her Chapter 7 bankruptcy.
Why am I writing about this? Because I still hear so often "If I file bankruptcy, my credit will be ruined for many years" or words to that effect. This is one example to show you that it just isn't necessarily so.
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