I know I have asked this over and over but on more time... Does anyone here know of a finance company that is willing to work with those that have poor credit and NEEDS to purchase a new car prior to filing bankruptcy? Is this something you might disclose to a potential financier just so they know you are planning on keeping current with the payments OUTSIDE of bankruptcy? Any companies that won't charge an arm or a leg? Please advise! I hope what I'm asking makes sense. BTW... my husbands credit score is 585 and mine is 530... I can remember only a year ago mine was 742!!!
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08-2009:Quit Paying Credit Cards
04-2010:Hired 2nd Attorney;05-2010:Filed 7
06-2010:341 Meeting (went very well)
08-24-2010: Discharged; 09-02-2010 Closed!! -
Go with any dealer, they will find you something. No one really NEEDS a new car. I know most want to buy a car before they file but why? Just more debt, any old clunker will last you. It is always cheaper to buy used with cash and pay for any repairs along the way. I've learned my lesson...Originally posted by Ann View PostFiled: 6-7-2010 341: 7-15-2010 DISCHARGED: 9/17/2010
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Originally posted by nc73 View Post
Ditto. Having car payments is the first step on our journey to remain poor/broke and in debt.
Take advantage of your BK's chance to be debt free. Don't pick up new payments either before or after your filing. JMO.Filed CH 7 9/30/2008
Discharged Jan 5, 2009! Closed Jan 18, 2009
I am not an attorney. None of my advice is legal advice in any way..Comment
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ABSOLUTELY. The best feature I have on my car and most of my neighbors do not, is a clear Title. It is mine, all mine. Boy does it need a car wash. 'HubOriginally posted by StartingOver08 View PostDitto. Having car payments is the first step on our journey to remain poor/broke and in debt.
Take advantage of your BK's chance to be debt free. Don't pick up new payments either before or after your filing. JMO.If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.Comment
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Great advice BUT.....I assume she doesn't have the funds to pay cash for a used car.filed chapter 7 BK 4/27/09
341 meeting 6/4/09
DISCHARGED!!! 8/5/09Comment
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Yes don't put yourself into debt at a high interest rate for a new car.
Many find they can survive with a used car just fine.
If you can afford those big payments chances are you can afford to pay for repairs when required.
We kept our car in BK and it was new, but it was a cheap car to start with, we only owed $10k against it with 8k miles on it and the interest rate was only 6% and the payment was $224 which we could afford.Comment
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