I am 90 days late on CC payments.....question.

[Falcon]

I plan to file Ch 7 in Jan or Feb....but I deperately need a new vehicle to get myself out of this piece of junk Im in now.

Question is....before I became delinquent my credit score was 709. Now, after 90 days of delinquency, will my score be decent enough to allow me to get a used car? I am $30,000 in CC debt, and how important is debt/income ration to car dealers?


NB

[Falcon]

Can anyone help?

[BrokeMike]

You should check your credit score first.
If you don't have a steady income dealers may not give you any financing. Try to buy a car on cash and make sure the value will be exempted when you file bk.
Good luck.

[jribe]

I plan to file Ch 7 in Jan or Feb....but I deperately need a new vehicle to get myself out of this piece of junk Im in now.

Question is....before I became delinquent my credit score was 709. Now, after 90 days of delinquency, will my score be decent enough to allow me to get a used car? I am $30,000 in CC debt, and how important is debt/income ration to car dealers?


NB

depends on the dealer- but most want to see a DI ratio of under 30%.

I would check your credit first- because the CC's might not show delinquent at 90 days yet.

If you have steady income, and show disposable income- they should let you buy a car. The rate may not be the best though, and i would count on having to do a downpayment.