Hi,
We are thinking forward to discharge next month, and surrendering our current car, a Kia with multiple issues and we owe twice as much as it's worth....
We will have a 30% down payment for a newer and more reliable vehicle, looking at 2-3 year old Honda Pilot or something like it (no more Kias for us), we have 3 kids so need something big enough but also very reliable and something we can just drive into the ground that will hopefully last us a long time.
So my question is...when we apply for financing next month, should both of us apply as co-borrowers? We filed a joint Ch. 7, included our house (2 mortgages) in the bk, but I was NOT on the mortgage so my credit is currently 631, my husband's is 598. Would my being included in the application help our chances of getting financing? (He works full time, I work part time)
Also, does previous credit history affect your chances of getting financing right after discharge? I've heard of a lot of people on here not getting approved, and it's concerning. Our credit histories were stellar until last December when we stopped paying everything, 780s for both of us.
Thanks for the help!!
We are thinking forward to discharge next month, and surrendering our current car, a Kia with multiple issues and we owe twice as much as it's worth....
We will have a 30% down payment for a newer and more reliable vehicle, looking at 2-3 year old Honda Pilot or something like it (no more Kias for us), we have 3 kids so need something big enough but also very reliable and something we can just drive into the ground that will hopefully last us a long time.
So my question is...when we apply for financing next month, should both of us apply as co-borrowers? We filed a joint Ch. 7, included our house (2 mortgages) in the bk, but I was NOT on the mortgage so my credit is currently 631, my husband's is 598. Would my being included in the application help our chances of getting financing? (He works full time, I work part time)
Also, does previous credit history affect your chances of getting financing right after discharge? I've heard of a lot of people on here not getting approved, and it's concerning. Our credit histories were stellar until last December when we stopped paying everything, 780s for both of us.
Thanks for the help!!
