@despritfreya wrote:
@IsambardPrince wrote:
"Hi, I just got a bankruptcy discharge and I'm looking to get myself in trouble again even though I can't file for 8 years. Can you help me in financing a white elephant kthxbai?"
LMAO. . .
1. Hard money lenders will finance the proverbial "pig in a poke". If you need a referral, I am sure I can get you one. But, typically, such lenders want your first born and/or will break you kneecaps if you don't pay (only kidding).
2. You don't have to wait 8 years to file again. You can file Chapter 7 as many times as you want. You just won't be able to seek a discharge until one of those cases is filed 8 years after the one in which you did get a discharge. You can also file a Chapter 13 and, if filed in less than 4 years after the successful Chapter 7, simply pay what needs to be paid. We call that one a "Chapter 20" (Google it). Of course, there are other consequences to being a serial filer.
3. If you hold off 4 years you can file Chapter 13 and, if you complete the Plan, you can get a discharge.
There are many options. You just need to figure them out.
Des.
I was pointing out the absurdity of someone pleading poverty in court and telling a judge they can't pay their bills and then the next month wants a camper. In case that wasn't obvious enough.
Who on Earth would use what little borrowing position they have left right after a bankruptcy to buy a recreational vehicle, assuming that's even possible? Many of them can barely get Capital One to give them a $500 limit credit card at that point.
This is the time to prove that it was a mistake, not a habit, and that you've learned, and that you'll do better.
One of my attorneys put me back in my place one time when I made a proposal that was a little bit out there. "You're sending me mixed messages, man." It really checked me, and made me stop and think about what my signaling should be to the other side.
Some people learn personal growth through pain and tragic mistakes. Some people get out of the frying pan and go immediately for the fire, which is what "camper after bankruptcy court" is screaming to me.
The same attorney reminded me "Remember, we did come to them." when I started pushing what he thought I could get away with from that position. In the end, and I have no idea what he said in there, we got 90% of the way towards what I was asking for anyway.
But the phrase "We did come to them." stuck with me as well. In this case, when you have a high FICO score, they come to you asking if you want their best offers. When you've just re-emerged from bankruptcy, you have to come to them and ask for garbage, at least for a while.
This is not a position to be negotiating a major and impractical expense from. Not now, maybe not ever, but at least not for some years.
I'm driving some older cars I paid cash for. They're not what I would be driving if anyone would give me an ideal loan rate. I'm certainly not going to pay 8-10% for a car loan when I have something that's at least working. Right after bankruptcy, they were offering me cars that they couldn't get past any buyer that had other options, and at over 25% interest.
And what OP is talking about isn't even something he needs to get to work or the store.
