car loan for current bankrupt

Hey everyone, i'm sure you guys get this alot, but i want to know if i can get a car loan while i am a current bankrupt?

I am a 23yr old single mum of a 3yr old girl, my income is the single parent pension, the dad doesnt pay child support, I made some very bad decisions and it led to me declaring bankrupt in november last year, as a result i lost my car, I need a car and have no money to buy one outright, and want to know if i could get a loan? does anyone know of any websites i could try and apply through??? i hope someone can help me :(

Where are you from? There are many dealerships that have financing for people who have previously filed bankruptcy.

I have done some research and someone on the board posted this site. www.fundingway.com

The site says that they will consider an applicant if they have had their 341 hearing. I am in a similar situation, but have been hesitant to apply. I think with all the credit issues in the economy, I have decided to wait, my company just took my company car away and I don't have another to use.

I would suggest you call them and ask some questions.

Good Luck, please let us know if it works, I'm sure we are not alone.



Filed 8/29

341- 9/26

I have done some research and someone on the board posted this site. www.fundingway.com

The site says that they will consider an applicant if they have had their 341 hearing. I am in a similar situation, but have been hesitant to apply. I think with all the credit issues in the economy, I have decided to wait, my company just took my company car away and I don't have another to use.

I would suggest you call them and ask some questions.

Good Luck, please let us know if it works, I'm sure we are not alone.


Strange. On the home page it says...

Car Financing Basics
- At least $1,500 gross monthly income required for credit scores less than 625.
- Chapter 7 Bankruptcy. 341 meeting of creditors must be completed.
- Chapter 13 Bankruptcy. An Authorization to Incur Debt from the trustee is required.
- Zero auto loan repossessions in the last year unless included in a bankruptcy.
- Auto loan approvals are for buying a car direct from our authorized licensed car dealer lots.
- Residents of USA and Canada at least 18 years of age.


But, on the FAQ page it says...


Car Financing Basics
- At least $1,500 gross monthly income required for credit scores less than 625.
- All Bankruptcies must be discharged.
- No repossessions in the last year unless included in a bankruptcy.
- Loans are for automobile purchases from our authorized licensed car dealer partners.
- US Residents at least eighteen years of age.

The parent company is Auto Credit Express and they say "As long as the bankruptcy is discharged, or you have an Authorization to Incur Debt from the bankruptcy trustee Auto Credit Express can help."

What I don't like about them is how they send you to a participating dealership. What I'm looking for is a loan on an inexpensive car with a low payment for a short period of time. All of the places associated with car dealerships want you to buy something new or nearly new. Personally, I'm not willing to sign up for years of oppressive payments.

Very confusing to say the least. When I called and asked what dealers they worked with, they wouldn't tell me, said I'd have to apply.

I went through these guys and 20 min. after I sent the info I got a call from a dodge dealer. The dealer said he was able to work with me even though I don't have a discharge yet.

That is great news, please let us know the details of the deal when you finalize

The OP said "currently bankrupt". If she filed in November, I assume this means she is in a Chapter 13.

That being the case. It IS possible, but very very difficult. Trust me, been there done that. You also need approval from the trustee.

At the time we bought a vehicle in the midst of our 13, many lenders wanted us to be at least halfway through our plan.

I'm not so sure now how possible it might be to finance during a plan. What with the economy the way it is, and the credit markets freezing up.

I wish you the best of luck. Dont' give up. We did, for about 6 mos out of sheer frustration, and then we tried again and got lucky.

Olly, let us know the details if you go thru them for financing. (such as interest rates, etc.)

Best of luck.

Olly, let us know the details if you go thru them for financing. (such as interest rates, etc.)

Best of luck.

The reason why we were looking at getting another car is due to my asset ch7 case. The trustee wants our only car or a monthly payment of $470. We were thinking about giving up the car and just finance a used one. But my body just shuddered about the thought of borrowing more money and came up to a solution. I am going to join the national guard and cash the $15,000 enlistment bonus check and pay off the trustee.

The reason why we were looking at getting another car is due to my asset ch7 case. The trustee wants our only car or a monthly payment of $470. We were thinking about giving up the car and just finance a used one. But my body just shuddered about the thought of borrowing more money and came up to a solution. I am going to join the national guard and cash the $15,000 enlistment bonus check and pay off the trustee.

Get more clarification on the enlistment bonus. When my husband joined the Air Force, he was to receive a 8,000 enlistment bonus. What they didn't tell him is that he would receive 1,300 per year for 6 years on the anniversary of his enlistment date. Check with the recruiter and make sure, I would hate it if you were counting on that money and they didn't give it to you in a lump sum. Ohh, one other thing, recruiters LIE :cry:

Get more clarification on the enlistment bonus. When my husband joined the Air Force, he was to receive a 8,000 enlistment bonus. What they didn't tell him is that he would receive 1,300 per year for 6 years on the anniversary of his enlistment date. Check with the recruiter and make sure, I would hate it if you were counting on that money and they didn't give it to you in a lump sum. Ohh, one other thing, recruiters LIE :cry:

I know what you mean. I already checked on the dispersment meathod and it look like a lump sum. This isn't my first rodeo.

I know what you mean. I already checked on the dispersment meathod and it look like a lump sum. This isn't my first rodeo.

lol, "rodeo" is a fitting term. Jump through hoops and barrel jumping.