I can't remember who posted it or in what thread, but we attempted to save our truck through them. This is to be done during active bk, and we missed it by 2 days and were discharged before they received the paperwork. They told us that we were approved through one of their alternative bk programs, and as of today we are the proud owners of a lovely 2006 Ford Fusion, loaded that they delivered to us. I belive they finance through US bank, and they don't allow you just any car, but you have about 30 to choose from and your payments are not dragged out forever, plus we were able to purchase a 24/24 bumper to bumper warranty for $1000. Our interest rate is 12%. I questioned the rep right and left about the car in addition to a carfax and I was not disappointed. I found out that this program has been in effect for over 15 years, and their post bk repos are maybe 2%.
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That's really not bad. Congrats!4/09 Converted to a Ch 7 due to loss in dh's income
5/09 UST now involved no idea what happens next
7/09 UST has decided to withdraw his motion to dismiss!
7/27/09 DISCHARGED!!!
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Will someone please go more into depth about the 722 redemption. I'm new here and just finding out as much as possible. Thanks!08-2009:Quit Paying Credit Cards
04-2010:Hired 2nd Attorney;05-2010:Filed 7
06-2010:341 Meeting (went very well)
08-24-2010: Discharged; 09-02-2010 Closed!!Comment
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They offered me financing at 24%. I am having problems finding a mini-van at the dealers they work with.Originally posted by Ann View PostComment
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what type of dealers do they work with? When I called, they only told me a license dealer, which I would assume, basically any dealer?Originally posted by majicman50 View PostFiled 09/18/2009
341 10/16/2009
Last day to object 12/15/2009Comment
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What type dealer they work with
A licensed dealer is correct but they have to aggree to the stipulations of the 722 program and I can tell you up front most dealers don't even know about it. Send them to www.722redemption.com and look under the section" auto dealers" in the upper right hand of the page. There are 4-6 pages of info w/requirements the dealer and the auto must meet under "for more information". You should print them out yourself for your own benefit.Comment
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Well done indigoblue! Not bad at all. And congrats!Originally posted by indigoblue View Post
Best of luck with the new wheels!Bankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain
All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.Comment
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A new interesting development on the car front. We haven't driven the car but maybe 200 miles (if that) since receiving the car 2 weeks ago. I headed to town last Friday and the temperature gauge went beserk. I called my hubby and he told me to turn around and take it home. He came in and found a hole in the radiator. I called the loan people (we purchased the bumper 2 bumper) and my salesgirl put me in touch with the sales manager. He asked me to fax a couple of estimates for the damage and he'd see what he could do. My car went into the shop yesterday, and the owner called and said the sales manager told him to make the needed repairs and he'd take care of the payment. Evidently something from inside the hood came loose and went through the radiator. I should have my car back today! They aren't making me use the warranty since we haven't even received the final papers yet. I'll post after it's all said and done.Originally posted by BassBoy View PostComment
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Well, they just called me to come get my car and said that it was PIF. I'm really impressed so far.Comment
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722Redemption.com sent me a post card in a mail a few weeks after we filed. My car did not qualify for a redemption because the miles it has on it are over 25,000 more than they allow. They told me I could apply for a replacement car.
I sent them 2 years of tax returns and my Schedule C's. I just got notified by the company yesterday that US Bank turned me down.
Looks like I will have to go to the Buy Here Pay Here or similar. That's the very first time in my life that I will have ever done this after purchasing well over 25 cars in my lifetime.
I probably will never have credit for years to come from this point. I checked my Experian credit report yesterday and I was on the floor when I saw what a nightmare it was.
So far, things are not looking good for me, even after filing bankruptcy.Comment
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