With a median income of just $36,850, an unemployment rate of 10.3%, and a poverty rate of 21.3% Mississippi has been named the poorest state in the US by the US Census Bureau. This is a huge factor as to why there were over 12,500 bankruptcies filed in the small state in 2012. Many of these bankrupt residents are now in need of rebuilding their credit, and here at BankruptcyAutoFinancing.com we can help.
One of the best ways to start re-establishing good credit is to get a car loan after bankruptcy. You may think it’s not possible, but when you apply with us online it is because we have a network of Mississippi lenders that specialize in post bankruptcy vehicle financing.
How MS Bankruptcy Car Loans Can Help
Many Mississippi residents don’t believe that you can actually fix bad credit with bankruptcy car loans because they are afraid of falling behind on their payments again. The fact is even though the interest rates will be higher than someone with good credit would get, when you apply with one of our MS dealerships you are allowing yourself to get the best rates and deals around.
Once you have been approved for your auto loan you can start car shopping. Now that you have a an approval amount you know what your budget is and what kind of cars to expect to get. When you stick within your budget you should be able to afford the monthly payments and make them on time. This will help your credit score tremendously, and within a year you may be able to refinance to get a better rate.
If you’re living in Mississippi and have been negatively affected the by economic downturn leading to your bankruptcy, don’t give up. Submit our free and easy online application today to see how much you prequalify for. Once we receive your information we can get into onef of our many MS dealers accepting bankruptcy clients and you could be into your new car and onto a better credit score in no time!
Remember we are not lawyers and cannot give legal advice. The situations discussed are only our experiences over the years and may vary with each customer.