Buying A Car In Chapter 13

[MISSLADY]

Has anyone had a hard time trying to buy a car while in a chapter 13, I have a car that is being paid for through my plan, however the miles are getting up there im afraid that it wont last. I tried in the past to finance a car, but I keep getting turned down. Any suggestions?

[HHM]

First, if you are still in the Chapter 13, you will need to get consent from the Trustee and permission of the court to buy a car on credit.

[HRx]

Hi, if you couldn't get financing prior to your Chp13, you're probably not going to be able to get any now. Most lenders only finance BK members once they have been discharged*

Good Luck!

[harvijo]

i speak from personal experience. we have tried for nearly a year to find financing to trade my present vehicle, which has had to have major repair during the course of our plan. we got our letter from the trustee, like we were told by the car dealership(s) but then when we went to try to do it we were told that the lenders they had were no longer doing any open Chapter 13. One place even told us that we would be better off to discharge the 13 with a 7, come back in a month and they could do it with no problem. Something about the hassle and legal issues with dealing with the courts. I recently spoke to a loan officer at a dealership, and he did have a lender that would still do an open 13; however, it would require a substantial down payment. Ofcourse, i asked how they expected us to have a down payment because being in a 13 obviously meant that we didn't have a large stash of money just lying around. He told me then that they had ways of keeping the trustee from finding out where the down payment came from. To make a long story short, we just decided to keep the vehicle until our plan is over (about 7 more months) and then we should be able to trade it and just pray that it doesn't kick the bucket before then.
Hope this helps. ; )

[MISSLADY]

Im Currently At The Point Where I Just Want To Either Convert Or Dismiss This, I First Filed In 2002 In A Five Year Plan, Some Things Came Up This Past October So I Had To Dismiss My Case And Refile Again Which Is For 42 Months, My Car Already Have 110,000 There Is No Way I Can Pay On This For Another Four Years. Since I Had To Start Over I Have To Wait Until My Attorney Fees Are Paid Before I Can Convert, But It Looks Like I Will Be Converting. I Dont Have Much Income Left To Save For A Car, I Dont Know What To Do

[MISSLADY]

Hi, if you couldn't get financing prior to your Chp13, you're probably not going to be able to get any now. Most lenders only finance BK members once they have been discharged*

Good Luck!

I had no problem getting financed for anything before my BK, I did get approved at one place BUT they wanted me to have a cosigner, of course i didnt have one.

[chicago57]

I'm in the Chicago area and got preapproved with 3 different dealerships - just doing the online thing... I asked the one finance manager can you get me a single digit interest rate and she said Yes I can. It can be done. I have completed my Chapter 13 and just am waiting for my dismissal papers which might have something to do with it... but i was still in it 4 mos. ago when i started all of it.

[MISSLADY]

I'm in the Chicago area and got preapproved with 3 different dealerships - just doing the online thing... I asked the one finance manager can you get me a single digit interest rate and she said Yes I can. It can be done. I have completed my Chapter 13 and just am waiting for my dismissal papers which might have something to do with it... but i was still in it 4 mos. ago when i started all of it.

See thats the problem, I have not completed my plan yet i had to refile but what websites did you use?

[chicago57]

Car dealers

Sorry for the delay in answering. I'm still not completed with my C13... they've been working on the audit for 5 mos. I used an online site... which basically I got turned down from most of the dealers ... I got approved with Webb Dodge; Bob Watson Chevrolet (those are 2 I remember). A Nissan dealer called too I cant think of the name. Basically if I didnt want an Altima, I wasnt going to get anything. My cluncker is still smoking and running, so I'm holding out for dismissal... I was screaming at them on the phone today! I said this is a joke.. I was told groups of people are talking about filing a class action suit against teh trustee I'm assigned with.

[MISSLADY]

See thats the problem, I have not completed my plan yet i had to refile but what websites did you use?

WHY ARE THEY AUDITING YOU?

[HRx]

See thats the problem, I have not completed my plan yet i had to refile but what websites did you use?

Below are some of the better websites, that can get in you touch with lenders that offer subprime auto loans. Keep in mind that these websites simply forward you credit application to a large network of lenders willing to finance individuals with bad or no credit, they aren't lenders. After you submit your credit app, you'll either recieve denial letters or calls from one of thier networked banks or dealerships within a 48 to 72 hrs, telling you, that you've been approved for a loan.

Good Luck!

http://www.roadloans.com/

http://www.driverloans.com/

http://www.auto-loans-financing-bad-credit.com/

http://www.autoloans.us/

http://www.carcredit.com/

[MISSLADY]

Below are some of the better websites, that can get in you touch with lenders that offer subprime auto loans. Keep in mind that these websites simply forward you credit application to a large network of lenders willing to finance individuals with bad or no credit, they aren't lenders. After you submit your credit app, you'll either recieve denial letters or calls from one of thier networked banks or dealerships within a 48 to 72 hrs, telling you, that you've been approved for a loan.

Good Luck!

http://www.roadloans.com/

http://www.driverloans.com/

http://www.auto-loans-financing-bad-credit.com/

http://www.autoloans.us/

http://www.carcredit.com/

Thank you.

[LeLe1970]

I recently went through this (TX)... My car was totaled, not my fault, a little after a yr into my 5 yr bankruptcy... Our Trustee was understanding and promptly provided me a letter of authorization to go and purchase a car.. The problem was trying to find a lender that would work with me, even though I had a sizeable down pymt from the insurance proceeds. I was told that it was because I had not been in my bankruptcy plan for at least 2 yrs... . Drive financial out of Dallas was the ONLY establishement that would touch me, and its an out rageous rate......best of luck

[chicago57]

Audit of Chapter 13

WHY ARE THEY AUDITING YOU?

I was told that is the normal procedure for discharging the Chapter 13 is to do a final audit. I confirmed it with my lawyer and told him the trustee told me it would take 30 days. He laughed. I thought that was not a good sign. That was back in December. He said good luck. Their audits have been averaging 90 to 120 days... He was not lying. It's now May... I am literally in the screaming mode when I call their office. My lawyer said one of his clients went to the Trustee office enraged and the police were called. He has at least 100 clients that want to file a class action suit. I think it's awful what they do to people trying to straighten out their life. These dismissal papers are holding up me refinancing and getting a new car. Driving me crazy.