It is no secret that a bankruptcy can drastically hurt your credit score, but what most people don’t know is that the biggest hit comes right after the bk papers are filed. This is why it is much harder to obtain a Spokane, WA auto loan in open bankruptcy than it is after you’ve been discharged.
It’s actually more common than you may think for bankruptcy clients to have credit scores ranging from low 600s to low 700s after being discharged because you either paid the chapter 13 payments on time, or the debts were closed in chapter 7. These two things help your credit score during your Spokane bk process, without you even knowing it.
If you’re one of the fortunate Spokane residents that have found yourself coming out of bankruptcy with fair credit scores you should have no problem finding a lender that will work with you. For those of you that didn’t have these scores after discharge then you’re still in luck. Here at BankruptcyAutoFinancing.com we work with a network of Spokane, WA subprime lenders that can help get you into an affordable car loan.
Bankruptcy Car Loans in Spokane
The Spokane lenders we work will give you the best chance at an auto loan approval because they have the tools and experience necessary to work with your credit and bankruptcy history. Going to a traditional lender could leave you paying extremely outrageous interest rates with high payments and short loan terms, which could also leave you in the same situation that forced you into bankruptcy.
If you’re ready to get started on your way back to good financial standing and good credit scores apply online today using our secure bankruptcy auto loan application. You could be driving away in your new car in just a few short days.
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.