Rate Reduction or Refinance?
I am going to refinance my 13.31% Capital One Car loan in probably 6 months or so - it says online they won't refinance their own loans BUT has anyone ever been able to call Cap 1 and ask for a rate reduction?
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Jessica
Filed Chapter 7 (Minnesota): 5/23/11
Discharged 8/30/11, Not yet closed... -
Nope, they will also tell you in person that they don't refinance their own loans. Been there, tried that. In my case, I would have been giving them a higher interest rate than the 6% that I'm paying so I could re-encumber my truck, but it didn't matter. Try a local credit union, now that your debts are discharged it will be easier than if you tried prior to your BK7. Good luck. -
Ah well, I guess I will actually have to refinance it then! Thanks for the info, azdebtor!
If I can get it below 8% I can shave a year off the payments, which would save me tons of money!Jessica
Filed Chapter 7 (Minnesota): 5/23/11
Discharged 8/30/11, Not yet closed...Comment
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