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    #1

    new auto loan - pre filing

    We are close to filing C7. We have two vehicles, a jeep we're making payments on and a paid for '78 Chevy Truck.

    For various reasons we need to - quickly - sell the Truck and finance a newer one.

    Obvious our credit is not stellar at the moment b/c we are in a foreclure and recently stopped paying CCs, but we do have a good payment history aside from that.

    Tranditional financing isn't going to work, me thinks.


    Have any of you been down this path? Any dos or don'ts to pass along?

    May seem silly to you, but we are really scratching our heads how to embark on this.

    TIA
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    8/10 - began researching bk, 9/10 - stopped paying ccs, 10/10 - paid atty fees, 11/10 - filed c7 - over median income , 12/22 - 341, 12/23/ - no distribution
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    #2
    Originally posted by ozarkmiss View Post
    We are close to filing C7. We have two vehicles, a jeep we're making payments on and a paid for '78 Chevy Truck.

    For various reasons we need to - quickly - sell the Truck and finance a newer one.

    Obvious our credit is not stellar at the moment b/c we are in a foreclure and recently stopped paying CCs, but we do have a good payment history aside from that.

    Tranditional financing isn't going to work, me thinks.


    Have any of you been down this path? Any dos or don'ts to pass along?

    May seem silly to you, but we are really scratching our heads how to embark on this.

    TIA
    make sure u sell it at fair market value and don't sell it to friends or family members
    try US BANK
    Filed chapter 7 on 9/17 341 on 10/20
    Chapter 7 Trustee's Report of No Distribution on 10/21
    Discharged and Case Closed on 12/21/2010

    Comment

      #3
      Originally posted by scorpion35 View Post
      make sure u sell it at fair market value and don't sell it to friends or family members
      try US BANK
      Great advice. Our neighbor and friend wants to buy, but I don't want to make any moves that would raise a flag.

      USBank, huh? One of the big guys will lend with not so good credit. Wow.

      This is encouraging. We live very remotely and will need to shop outside our market.

      Thanks for your input scorpion.
      ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~
      8/10 - began researching bk, 9/10 - stopped paying ccs, 10/10 - paid atty fees, 11/10 - filed c7 - over median income , 12/22 - 341, 12/23/ - no distribution

      Comment

        #4
        selling it to friends or family members will raise a BIG bright RED FLAG with the trustee
        I filled 1 month ago and US BANK just sent me some mail telling me that they will finance me if i decide to replace my truck
        Filed chapter 7 on 9/17 341 on 10/20
        Chapter 7 Trustee's Report of No Distribution on 10/21
        Discharged and Case Closed on 12/21/2010

        Comment

          #5
          carsdirect.com states that they are the online leader in poor credit auto loans....
          ?
          ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~
          8/10 - began researching bk, 9/10 - stopped paying ccs, 10/10 - paid atty fees, 11/10 - filed c7 - over median income , 12/22 - 341, 12/23/ - no distribution

          Comment

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