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Posted in Bankruptcy
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Ameretta

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How long after paying off bankruptcy can you get a loan again?
It was discharged in June, we want to buy a new camper but can't get a loan. How long do we have to wait before we would be able to get one?

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A discharge of bankruptcy means you are no longer legally obligated to pay the debts that were included in that bankruptcy.  If you filed under Chapter 13, you may have to wait 6 years after the final payment to be able to get a loan.  If you filed under Chapter 7, it will be 10 years.  Bankruptcy is not a "fresh start" but causes a need to rebuild your credit as if you had never had any before.  Please consider re-reading the articles on this site so you can refresh your understanding of how credit works.

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