Should I tell auto lender about future bankruptcy?

[awnmwn]

We are planning on filing a Chp 7 very soon & surrendering our very upside down auto & reaffirming our home. We have to have a vehicle & found a nice dependable one less than NADA value for cheap. My question is........when applying for our small loan, we were told our debt to income ratio was off. (due to 3 credit cards) Should I be honest & tell them about filing BK in the near future to help with the debt to income numbers? Would this help at all or only make it look worse for future business?
Note: I've already told them about the 1 auto being returned.

[DebtHater]

A nice brand new bankruptcy isn't that much better than a bad debt to income ratio. Besides, if you do tell them, they're going to have a target on their back as you will have to include them as well.

[momofthree]

We are planning on filing a Chp 7 very soon & surrendering our very upside down auto & reaffirming our home. We have to have a vehicle & found a nice dependable one less than NADA value for cheap. My question is........when applying for our small loan, we were told our debt to income ratio was off. (due to 3 credit cards) Should I be honest & tell them about filing BK in the near future to help with the debt to income numbers? Would this help at all or only make it look worse for future business?
Note: I've already told them about the 1 auto being returned.

I used to work for a finance co years ago (Wamu), and anytime someone said they were planning to file bankruptcy, that was grounds for an automatic decline on their application. Didn't matter what type of loan, didn't matter how stable their job was, or what their credit score was. If they verbally said they were going to file, automatic decline. Now, I don't know if other companies work the same way, but just wanted to let you know....

[mand15]

no nothing good will come of disclosing this info.