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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Credit Card Debt - Best Approach? Date:  10/8/2012  8:38 PM
Author:  Gingko100 Number:  306036 of 312185

And - another argument in favor of NO car loan.

If he gets the loan and then declares bankruptcy he probably won't be able to discharge it - you can't just load up on debt and then plan to turn around and discharge it all in BK. That's considered fraudulent. And he won't be able to get a car loan after bankruptcy for a while (a few years).

Obviously, based on my posts above, I already think a car loan would be an awful idea. But BK makes it even more complicated and difficult.
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