I just left my Attorney's office. I have my final meeting for signing paperwork next Thursday, 04/21/11 and an anticipated Chapter 7, No Asset, filing date of 04/25/2011.
With that being said, the biggest topic of conversation during today's meeting was my auto. I intend on surrendering the current vehicle. And currently, my intentions are to save some money and purchase with cash a "commuter car" to get back and forth to work with, probably something old and hopefully gently used.
My attorney referred me to a finance company: Prestige Financial. He said it was of course, just another option, I make my own decisions. He in now way pushed the program but only gave me the information. They have an "Attorney Referral Program" for Bankruptcy clients. (I assume my Law Firm would get some sort of referral fee if I used the program.)
This program is available to individuals that are not discharged from bankruptcy. Part of the program is a Rate Reduction, as long as monthly payments are made on time and insurance is up to date, the interest rate on the loan will drop up to one half of one percent every three months, for a total reduction of up to 2% per year.
Course the underlying question is what is the initial rate? (I assume rather high.)
Anyway, just looking for some feedback. I still plan on purchasing a clunker old car initially. But I like to be well informed of all my options in advance.
With that being said, the biggest topic of conversation during today's meeting was my auto. I intend on surrendering the current vehicle. And currently, my intentions are to save some money and purchase with cash a "commuter car" to get back and forth to work with, probably something old and hopefully gently used.
My attorney referred me to a finance company: Prestige Financial. He said it was of course, just another option, I make my own decisions. He in now way pushed the program but only gave me the information. They have an "Attorney Referral Program" for Bankruptcy clients. (I assume my Law Firm would get some sort of referral fee if I used the program.)
This program is available to individuals that are not discharged from bankruptcy. Part of the program is a Rate Reduction, as long as monthly payments are made on time and insurance is up to date, the interest rate on the loan will drop up to one half of one percent every three months, for a total reduction of up to 2% per year.
Course the underlying question is what is the initial rate? (I assume rather high.)
Anyway, just looking for some feedback. I still plan on purchasing a clunker old car initially. But I like to be well informed of all my options in advance.