Re: Chapter 7 and a New Loan
Once your bankruptcy IS discharged (and it's a chapter 7) you are free to spend your money how you wish. Be very careful thou...the interest rate on that is likely to be very high. Once you do a chapter 7, you can't do another one for several years.
Re: Chapter 7 and a New Loan
Ok thanks. Does someone monitor your account to see if large amounts of money are deposited?
Re: Chapter 7 and a New Loan
No, not the bankruptcy court. And although 5 grand is a lot of money...it could be someones's pay check (that could be a lot of people to "watch").
The purpose of a bankruptcy is to give someone the opportunity to start clean. The court has already ruled that you get a clean start. Its over..start your new begining.
Good luck.
Re: Chapter 7 and a New Loan
Agree, after discharge you can get a loan if someone is willing to give you one. Usually you can find a facility that will but like gigirle noted you interest rate will probably be quite high due to your bankruptcy hx.
Be sure that you can make the payments if you take out a loan. You just got done going through a bankruptcy due to debts.