Is it much harder to obtain a mortgage or a home or a car loan after Bankruptcy?

Jeremiah asked:

is it a good idea to declair bankruptcy for about $24,000, and will it be any harder to get a loan or a mortgage after?

Reply:

Unless buy drugs without a prescription you had a medical disaster, bankruptcy is going to hang you credit for a good 7 years, making car and home loans harder to get and more expensive IF you get them; and surprise, under the new bankruptcy lay, you may still have to pay a lot of the 24 k anyway.

 

Finance your car here onsite if you need help buying one of these beauties :)

 

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