Getting a car is one of the most expensive purchases a person can make. Even with a good credit situation, there can be a lot of anxiety about an automotive purchase. However if you're recently recovering from a bankruptcy the process can become a lot more nerve wracking.
Continue ReadingAuthor Profile: Michael Smith
Articles Posted By Michael
You may know someone that is looking for auto financing following bankruptcy discharge and you’re considering being their co-signer.
Continue ReadingBankruptcy is a difficult decision to make, but sometimes it is the only option that Denver, CO residents have. Unfortunately, while it does wipe away your debt it also leaves your credit score down in the dumps.
Continue ReadingPennsylvania’s median income is the primary factory in determining if a debtor will be filing for a chapter 7 or a chapter 13 bankruptcy.
Continue ReadingReliable transportation is essential, especially in a big state like Wyoming. But if you've recently undergone a bankruptcy and couldn't keep your car in chapter 7, you can easily find yourself in desperate need of a car but staring the difficult task of taking on more debt so soon after clearing your finances.
Continue ReadingKeeping personal property is usually a big concern for Iowa residents filing for a personal bankruptcy and rightfully so. Keeping your property all depends on what chapter you file and what the property’s valuation. Your car, like your house, also depends on whether you are current of behind on your monthly car payments.
Continue ReadingWhen you file bankruptcy, you are usually in a better position to pay your bills than you were before, and can begin to work on creating a brighter future. Depending on whether you filed Chapter 7 or Chapter 13 bankruptcy, many of your debts including medical bills, credit card bills, and car loans are either discharged or reduced. This means that you should have more money available, but you may not know the best way to manage that extra money.
Continue ReadingOne of the best ways to rebuild your credit after bankruptcy is to get a car loan and make the payments on time; however, if you are in open Chapter 13 bankruptcy you will have to get approval from the court. Although you may not want to go through the hassle of getting approval, it’s absolutely necessary before you take on additional debt. Not doing so could land you in hot water, and could even result in dismissal of your bankruptcy.
Continue ReadingIt's often difficult to find dealers that accept bankruptcy clients, which will also help you rebuild your credit. Most large car dealers won't work with you because of your bankruptcy status, and most Buy Here Pay Here dealers don't report your on-time payments. So where do you turn when you need to buy a car after filing bankruptcy?
Continue ReadingWhen you purchase a car with a post-bankruptcy auto loan you may wonder if you need gap insurance. Although gap insurance is never a requirement for a high risk auto loan, sometimes it makes sense. Determining whether or not you need it is relatively simple.
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