where should i apply?

[lovelylisa84]

My discharge of CH 7 is scheduled for July 1. I really need a car. I currently have a loan through Santander at 22%. I've been paying it for 5 years and have one more year but still owe 7k!bits been in two accidents and needs $2700 in repairs. It is a Nissan Altima and now we have three children (8 month infant).

Income is 90k per year. I've been at the same employer for 10 years. I have an old 6yr repo. Before that I had another car loan with good history but its so old its no longer on my report. My current loan was not reaffirmed so it is not showing on my credit report. My Equifax fico is 623. My transunion fako is 617.


I received a per approval in the mail from capital one a few weeks ago but the paper said a 17% interest rate which I'm not willing to take.


My auto enhanced might be lower than my fico...who knows


So where should I apply for a loan? Who is bk friendly? I'm planning to surrender the altima and wipe my hands clean as long as I can get a new car.

[Pjmax]

I would start researching BK friendly credit unions near you, or even some of the major ones you can join online. Talk to them in person or on the phone. If they indicate after you establish a relationship, they may consider re-financing, you're good. If you REALLY need a car, you may end up with Cap1's 17%, but after discharge, and credit report cleanup, you may qualify to refinance.

Any chance you're eligible to join NFCU? I hear great things about them for those post-BK. I've also heard good things about LogixCU, which I believe is in CA.

[IBroke]

I had to start at 19% right after discharge, too. However, after 6 months, I was able to refi at 9% (and that was with two (!) previous repos on file).

[lovelylisa84]

I had to start at 19% right after discharge, too. However, after 6 months, I was able to refi at 9% (and that was with two (!) previous repos on file).

Who did you refinance with?

[lovelylisa84]

I would start researching BK friendly credit unions near you, or even some of the major ones you can join online. Talk to them in person or on the phone. If they indicate after you establish a relationship, they may consider re-financing, you're good. If you REALLY need a car, you may end up with Cap1's 17%, but after discharge, and credit report cleanup, you may qualify to refinance.

Any chance you're eligible to join NFCU? I hear great things about them for those post-BK. I've also heard good things about LogixCU, which I believe is in CA.

Yes, I can join but from what I was told by another forum was that they are not BK friendly. My cousin used to be an underwriter at California Coast Credit Union (my local CU) and she said BK were nono's..automatic decline. I will call my CU (North Island CU) and see if they finance BK applicants. Thanks.

[kmjatl]

A dealer might be able to help. We have (reputable new car dealers, not buy here pay here) dealers here that seek out applicants in BK.

[IBroke]

Who did you refinance with?

Sorry for the late response - I refied with NuVision Federal CU.