if i have recently taken out a loan, can i still file bankruptcy
Question Details: in the process of trying to settle a debt i took out a small personal loan with my car as colat. the car is paid for. i was unable to settle the debt. can i still file for bankruptcy even though the loan is new
Answered 7 years ago|
If a debtor purchases any single item for more than $500 within 90 days of filing, the presumption that the debt was incurred fraudulently and therefore non-dischargeable. Additionally, this is a secured debt so you will still be liable for the loan; if you don't pay, then your car can be repossessed.
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