How Long Will It Be Before I Can Buy A House or Car?


Filing bankruptcy does not mark the end of your ability borrow money in the future. Instead, it is the end of sleepless nights, stress and fights caused by your debt problems. If you’re having trouble managing your debt, get professional advice. If you want to see how bankruptcy might benefit you, then call the law office of Geoffrey Nwosu at 408-912-5983 to schedule a free and confidential initial consultation.  Bring your debts and leave with peace of mind..

Many people that we meet for a debt consultation often ask “how long will it be before I can buy a house or care?  When a person is overwhelmed with debt with no foreseeable way out, then they are NOT in a situation to buy a house or car.  Ask yourself this question, “If you do not file bankruptcy, how will you ever get out of debt so that you can afford a house or car?”   If you debt is out of control, what bank or credit union will give you a loan?   If you’re having debt problems, then buying a house or car is very difficult. It is much easier to be able to buy a house or car on credit after you get debt free. But what about the bankruptcy on your credit?   That will be a challenge, but unpaid debt is a much larger challenge.  The good thing about bankruptcy is that it shows that you no longer have the unpaid debt that gave you so much trouble. Will it make your credit rating perfect and clean?  No.  But consider this: who is more credit worthy, a person with a lot of unpaid debt or someone with no debt?  Bankruptcy can give you the “fresh start” that you need to be able to buy a house or car.

Here are some questions that you should be asking:

  • What is the best way for me to get debt free?
  • How long is it going to take me to get debt free?
  • After I get debt free, how long will it take me to save 3-6 months of living expenses as an “Emergency Fund” so that I can avoid debt problems in the event I have a drop in income or I run into some unforeseen expenses?
  • After I have created an “Emergency Fund,” how long will it take for me to save enough for a down payment for the house or car?
  • What are some ways that I can increase my income so that I can save more money quicker?

Getting debt free is just the first step, but that freedom requires you to take action.  If you are overwhelmed with debt and you live in the Bay Area, call our San Jose law office for  a free an completely confidential consultation at 408-912-5983.

Law Offices of Geoffrey C. Nwosu

1710 Hamilton Ave.
San Jose, CA 95125

(408) 912-5983
(408) 375-7703



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Copyright Law Offices of Geoffrey C.Nwosu 2004 to 2010