The decision to file for bankruptcy should never be taken lightly. You will be committing to a complicated and invasive process that will negatively affect your credit for years. However, for some consumers, bankruptcy is a necessary and even beneficial ordeal.
At Auto Credit Express, we are often asked questions about qualifying for bad credit auto loans following a personal bankruptcy. Here is one we recently received about waiting until your chapter 7 bankruptcy is discharged before applying for a car loan.
If you have a car when you file for Chapter 7 bankruptcy, you could find yourself with a big decision to make. In many cases, a bankruptcy filer can choose to either keep the vehicle or surrender it to the lender.
A dismissed bankruptcy filing is extremely damaging to a consumer’s credit report. However, there may still be a way to get approved for a car loan.
Buying a car while in a Chapter 13 Bankruptcy is a lengthy process, but it can be done.
Purchasing a car is usually an exciting experience, but getting approved for an auto loan after a Chapter 7 bankruptcy can potentially be a stressful process. It is important to know how this works.
You’ve completed the process of filing for a Chapter 13 repayment plan, and you are ready to start fresh for the New Year. You made the resolution to reorganize your debt and be more responsible with your finances from here on out. But what can you do when the time comes for a purchase of another vehicle?