Have you filed for bankruptcy? There is no reason to be ashamed because you are not alone. There are many Americans that have filed for bankruptcy throughout the United States, especially in Colorado. For example in 2011 alone there were over 24,000 bankruptcies filed. The question is now that you are out of debt how will you start rebuilding your credit? Here at Bankruptcy Auto Financing we can help you get a used car loan after bankruptcy.
Colorado Bankruptcy Trend
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According to the District of Colorado U.S. Bankruptcy Court, Colorado was on a steady incline for bankruptcies filed from 2007-2010. So why has the number of people filing decreased so drastically in 2011? Experts believe it is because the economy has steadily improved and less people are unemployed. This means that more people are able to make their payments on time creating a recession in the number of bankruptcies.
The last recession in the number of bk recorded in Colorado was in 2005 after the new bankruptcies laws were implemented. The new stricter laws, protected under the BAPCPA, made filing fees more expensive and created a state income median. If you made more than your state median you did not qualify to file for chapter 7 bankruptcy. You were forced to file a chapter 13 repayment plan. This follows our data that shows the number of chapter 13 applicants increased from 2005-2010.
How We Can Help You
If you have recently been discharged from bankruptcy you might find yourself in a pickle for transportation. Maybe you had your car repossessed or maybe you simply had to include the vehicle in the bankruptcy to repay your debt, either way we specialize in after bankruptcy auto financing.
Start by filling out our online application to see if you are pre-approved. Your information will be sent to our nationwide lenders to see who will be able to get you the best deal in your area. Our lenders can even get you car loans while in bankruptcy, so if you have not been discharged yet, but need an automobile, you are not out of luck.
Remember we are not lawyers and cannot give legal advice. This article describes only our experiences over the years, and circumstances may vary with each customer.