credit score after discharge

March 11th, 2006 by Questions

I’m in the middle of bankruptcy, due to be discharged this spring. I still have the mortgage on my home, and a lease on my vehicle while bankrupt, never missing a payment or late on either one before bankruptcy, and during. How does this affect my credit score when discharged? Does it boost my chances of future credit? I’d like to finance or lease a car again in the fall when current lease expires through same creditor(chrysler). What are chances I’d get financing with a couple thousand dollars as down payment?


One Response to “credit score after discharge”

, Barton Goth, GCO Inc. Bankruptcy Trustees said:

I can’t tell you the specific impact on your credit score, but it definitely boosts your chances of obtaining credit once your bankruptcy is completed. As for whether or not you will be eligible for a lease, this is a question you will have to ask each individual lender as the each have their own internal policies and controls. Now I don’t think you will have any trouble finding a company that will be willing to lease a vehicle to you, but you will likely will have to pay a higher interest rate than with a conventional lender as you could be perceived as a risk depending on how close to the end of your bankruptcy it is.

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