Just had my bank tell me it is illegal to

[OneDay]

Just had my bank (Tier One Bank) tell me it is illegal to aquire an auto loan within a specific time frame after a discharge. They ask for 2 years of rebuilt credit before they will deal with you as well.

[Tbornetun]

It is not illegal, but it may go against their specific rules within their company. They may not lend to people until 2 years have past, but other banks will. Try someone else.

[BradyFL]

not true

It may be against their underwriting guidelines..Discharged 8/13..New loan through Car MAX Last friday

[aces67]

It may be against their rules but it is definitely LEGAL all the way.

[kenshirley]

The problem is you are dealing with an employee that is dumb enough not to understand the difference between against company policies and the law.

[UpsideDown]

Not true....I just got a new car loan for $17K from my CU about 2 1/2 months after discharge.

[debtmonster]

722redemption.com will get you financed BEFORE discharge. They even told me that it's okay to do this. They said it all has to be done before your discharge. I have them trying to get me approved on financing right at this very moment. Don't know if they will throw it out or not. If I don't get approved, I really don't care. I have a dealership that will personally finance me up the street as long as I put down a large down payment the same way a buy here pay here does.

[Pizza]

Don't mean to interrupt, but was it a Ch. 7 or 13? Since getting a car note increases expenses, wouldn't it violate the court-ordered budget, IF it's a Ch. 13?