Got the ok to buy a car..But from who?

[tiredgrandma]

So the trustee and the judge gave us permission to get a car.

WOW huh...nope so far the few places i have called wont even bother with us, We dont have extra cash to buy from a private party and been there and done that and that car needs a ton of work...My husband works far and we need a reliable dependable car..I wish we would have just kept the money instead of buying that pos car , Live and learn lesson..Our lawyer asked why we just didn't go to him in the first place..Well duh were chicken! Didnt want to shake any feathers, We have a year left and this is the first problem that has come up...Our car that we have had during the whole bankruptcy is about to die, And that crap he bought is dead.

Has anybody been able to get a loan anywhere? Im just stressing about this and tired of being told no..I haven't tried the online ones yet and haven't gave any personal info only because I didnt want it to put dings in our credit report....Just made some calls and as soon as I say bankruptcy its over....
Also how long do we have once i start the process of filling out the personal info, before it starts counting more than once on credit report?
Thanks

[tiredgrandma]

I don't get this, I'm in my last year of a 13 our 9 year old car is on its last leg and will cost way to much to fix than its worth and if I could I would ...What i don't get is you need a car to get to and from work to get to the home you pay for.
if you have no car and no other means to get to that job u lose your home and more..I have read where some are able to go out and refinance a house some just out of 7 that are able to go right out and buy houses and cars . So why is this backward, Our trustee even knows we need a car in order for my husband to get to work to pay the bankruptcy and the house and bills...He has been at his job for 18 years our house is almost paid for ..We live a very simple life always had. So why isn't there more places to help get you a car like it is with houses....Dam this isn't right, We have only bought 2 cars from a lot, the other cars we had we paid cash.
I'm in a 13 because of medical bills BIG TIME medical bills...(My son was and still is sick but he is 23 now)
I'm sure some of you know that feeling and how as soon as you pay 3 bills ,10 more are in the mailbox..and it was non stop with blood work lab work Iv drips and on and on...Insurance might as well go out the window when you are faced with certain medical problems..Oh god Im sorry im just venting...I was just hoping that it wasnt going to be this hard to get a car if we can even get one...Thank you..

[aces67]

Honestly several of my relatives have filed BK and for some reason those of us that filed Ch 7 are able to get credit with no problems. The ones that filed 13 are struggling even after discharge. I really don't understand that.

Have you gone down to one of the dealerships and talked to a finance manager? If not I would just be upfront with them and let them know what's going no. They can pull your credit report right there and look it over and see if they think they can get financing.

Good Luck!

[justbroke]

You may not be able to find Traditional Financing. If you go to a dealership, call around FIRST to make sure that they have programs for people in active Bankruptcy.

Your lender of last resort is USBank/722Redemption. They will finance in a Chapter 13 or right out of a Chapter 7, but there interest rates are more like those of credit cards. (Think high teens to low twenties.)

(Wow, this original post is old, so sorry someone never answered until now.)

[bigjoewebb]

newbie here, i looked and found that 722 doesn't finance chapter 13's unless you switch them over to chapter 7.....

[justbroke]

newbie here, i looked and found that 722 doesn't finance chapter 13's unless you switch them over to chapter 7.....

Yes, thanks for pointing that out, and yes, please don't confuse the two.

Redemption is for a chapter 7. The people who have created specifically own 722Redemption is USBank. USBank does (re)finance inside a Chapter 13, but it's neither "redemption" nor through their 722Redemption company.

[bigjoewebb]

sooooooo will they help?

[justbroke]

sooooooo will they help?

You would contact USBank, not their "722Redemption" subsidiary. They "might" help you. They are about the only ones that will.

[dscurlock]

I just have to shake my head and wonder if anyone will help in todays
new financial economy. What you could have done 2 years ago, can
not be done today for obvious reasons, but who knows.

[justbroke]

I just have to shake my head and wonder if anyone will help in todays new financial economy. What you could have done 2 years ago, can not be done today for obvious reasons, but who knows.

Yes! This is exactly why the Warren Buffetts of the world get richer! Where you see economic failure, they see the upside potential! This is truly why the rich get richer, even in times where everyone is losing. They bet on recovery.

[Never_Again]

Help is a great thing, but businesses (banks and finance companies) are there to make a profit... not to be a social help organization.

I don't mean to be callous, but that is not a bad thing. Most of us with a job go to that job to make a profit. We may do some volunteer work to help others, but the job, well, that is where we make the money! The bank is the same way. They do not have to lend to someone that they feel is a poor credit risk.

Many of the "rich" are getting richer as well, because they are looking for the opportunity, and are making good decisions. They are not chasing after FICO scores, and doing crazy things to try to manipulate a three digit number.

[chguthrie]

There are places that will help you. My neighbor words at an upper end buy here pay here place that reports to the credit bureaus, he was telling me that they had financed a guy that was under a 13, it took like 2 months to get all the paperwork and the letter from the bankruptcy court together. Also, I am under a 7 will be discharged next month and my truck is about to die...I called a few places (bigger car lots) and one of them has a guaranteed finance program. He explained to me that the terms would be alot easier on me if I waited until after my discharge, so that's what I am trying to do. But with 240,000 miles and other issues with my truck I am really crossing my fingers I can wait that long. I just wanted you to know it can be done.