Before You Go and Get Ripped Off on Your New Auto Loan...
Let's try to stay on topic.
Let's try to stay on topic.
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Bankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain
All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation. -
houses give you equity
cars are just an expense.
I can't believe how people whine about bk or cc annual fees - but don't mind paying outrageous interest fees for a car.
if u have to buy a car - pick a new one, try a lease - and get dealerships to bid for you by trying to get you a earthly interest rate. Don't be pulled in by pushy salesmen who try the 'u had a bk, your credit sucks, this is your best choice, u can always refi later' crap. It's scripted and so many don't have willpower and just sign. Those 'stealerships' make a killing off bad-credit people, and are ready wih their trained script the moment u walk in. Stay away from these predators.
if you got a good job - let your paycheck be your credit - and try in person at your bank first. I'm back at work, make $95k/yr - and i'll let banks bid for me. If it's too high' a 'sorry not interested' works great. I have no probs driving a nice $5k or so used car for however long it takes til i get a car loan i like. No rush. This gives me the advantage.
rFiled: 05/04/06 (los angeles)
341: 06/05/06
Discharged: 8/29/06
Closed: 9/08/06Comment
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We just bought a 95 Volvo for $3000.00 @ a 10% rate so the payment is 100.00 a month. You can't rent a car for that .. So it was worth it for us and the balance is low so the 10% won't e so bad .. Our House Mortgage owns US ... That is why we are selling.. and going to Rent .. Which I agree with a lot of you it will be great to rent and not have to worry about fixing anything like the heat and air.. hot water heater .. Plus we are going from 1200 a month to 700 .. I just can't wait I know we will not get the tax break every year but it is better to have more time to enjoy your family then be STRESSED OUT... I am learning this... So I think you learn a lot from BK7 it makes you think about thing more in depth.. We may buy again in about 1-2 years after our home sells but this time it will be under by budget not above. To where if something happens to one of our Jobs we won't sink until another one is found..DISCHARGED Case CLOSED = 01/03/2006
Credit Cards
Washingon Mutual 3000.00
HSBC 1600.00Comment
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Well my car is paid off except the maintenance is a pain- but dont wanna buy yet until I can wait and get a decent loan which will be a few more years after the ch7. Homes are great but in southern california the prices are way too high right now so I am renting for a lot less money until the market corrects itself.Comment
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