Question by : Why do people who filed bankrupt get better interest rates?
My friend filed for bankruptcy a year ago and she already bought a brand new car with a great 2% interest rate and she also got a Discover credit card with a good interest rate. I don’t understand. I’ve never filed for bankruptcy and my credit is good, but my interest rate on my vehicle is 4% and my credit cards have a higher interest rate as well. I don’t’ think its fair how someone who has filed bankrupt gets better interest rates! WHY and HOW?
Answer by Cameron
bankruptcy no longer carry the same ideas as it did back in the 80’s and 90’s
you will notice a difference in mortgages but for other lending services, it may not matter that much
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