7 | Can You Buy A Car If You File Chapter

Armed with his discharge papers and a fresh pay stub, Marcus headed to a local dealership known for "second chance" financing. He didn’t aim for the sporty SUV he once craved. Instead, he looked at a certified pre-owned commuter car.

The engine of Marcus’s old sedan gave one final, metallic wheeze before dying in the middle of a rain-slicked intersection. For Marcus, the timing was poetic. Only three weeks ago, a judge had discharged his Chapter 7 bankruptcy. He was debt-free, but he was also now walking-to-work-in-the-rain free. can you buy a car if you file chapter 7

"I won't sugarcoat it," the finance manager said, flipping through Marcus’s file. "The bankruptcy is there. Your interest rate is going to be high—around 14%. But since you’ve stayed current on your rent and utility bills since the filing, we can get you behind the wheel." Armed with his discharge papers and a fresh