Got approved for a blank check loan

[onepowerfullady]

Hi Guys,

I am so excited to tell you all that only 2 weeks out of BK I have been approved for a blank check loan from Roadloans with only a 10.99% interest rate up to $30,000.00. I was wondering why I kept being declined by everyone with a credit score of 640 and it came to me to call them. I forgot that I had a fraud alert on my credit report. Once I gave them all of the needed information they sent me a letter by email 10 minutes later letting me know that I had been approved and that they were sending me out a check overnight. There is hope yall!!!

[Naz428]

Congrats! That is great news. Once my lease is up I hope to be approved for an auto loan as well.

[newstart]

Congrats that interest is great with RoadLoans.

Not to get off topic but I seen that you converted to a chapter 7, a friend of mine wants to convert but her lawyer is a piece of crap, do you know if a conversion can be done pro se? any info would be helpful. Sorry to post this on your thread.

[BassBoy]

WOW lady. That's awesome! One of the better financing deals I've heard in a while. Congrats!

[SinkingFast]

Congrats, Lady!!

Enjoy the shopping. Relish every moment of it. Test drive a lot of cars before you purchase THE ONE.

Smell that new car smell as much as you can along the journey, before it all comes to an end and payments begin.

[Hot-Tod-E]

Wow everyone here seems so happy for you. I am sad for you. You have been debt free a total of 14 days and within a few days, you'll be the proud owner of a $30,000 debt. Why would you file bankruptcy, get debt free, and within two weeks go back into debt again?

I don't understand this line of thinking.

Your payment for 5 years is $652 a month! Or, you could drag the debt on longer for say 6 or 7 years so the payment will be lower.

I thought the goal of bankruptcy was to become debt free?? Maybe it's just me, but I filed bankruptcy to become debt free and if I want to buy a car again, it will be a used car, paid for in cash that I've saved for.

If you don't live within your means, you'll be in bankruptcy again as soon as you are legally able to file.

Bankruptcy is not a debt management program! All these attaboy's that you are getting are not doing you any favors, it's called "enabling".

I don't mean any disrespect; I'm just baffled why anyone would go through a bankruptcy, just to do it all over again? And that anyone else that has been through it would congratulate you for getting out and before the ink is dry on the discharge, doing it all over again

[SinkingFast]

Ya know, Hot Tot E,............... Right now I've got old beaters with 150K+ miles on them. They are barely holding together. I wouldn't take a one of them on a road trip.

I can't wait to be able to get safe, reliable transportation again.

Maybe Lady NEEDS a car.

Just because she's pre-approved up to $30K doesn't mean she's gonna spend it all. Doesn't mean she's gonna buy a brand new car either. Just means she's gonna get something safer and more reliable than she has right now.

[CAB_44]

well..it's POSSIBLE that she just wants to "get the check in the mail....and....................................... .
RIP IT UP INTO A GAZILLION PIECES AND SEND IT BACK TO THE CREDITOR......"................................... ..HAHAHAHAHAHHAHHA~
hell, that's what I would do...anyway~ say ...cheese.....!!!!!!!

YEAH...what SF said.....!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!

[Hot-Tod-E]

Well, yes, that would be the better choice, wouldn't it?

Like I said, I don't mean any disrespect, but I've noticed all the signatures here where people are practically bragging about all the new credit received since their discharge.

It's just seems bizzare to me to get so much credit after having the opportunity to get rid of it. To me, it's a relief.

Just from the short time I've been reading here, it seems like obtaining credit after bankruptcy seems to be the number one goal, rather than focusing on living on a budget to prevent future financial distress.

Again, it is not my intention to insult any one here and I apologize if I have.

[CAB_44]

No hot t ...
it's just that SO many people here have been down trodden with debt and SO much NEGATIVE on them and about them where their credit issue is about, everyone WANTS to do it right when they "start over"...it is GOOD to know that you still are able to get something POSITIVE after going through such a horrible experience...as BK!
Everyone wants to know that there is a yellow brick road at the end of their horror ....this is just it for her....she's excited about the "positive"....let her bask in the sunshine for awhile........!!!!!!
Like my picture...of the kitty saying...AAAHHHHHHHHH..........life IS good!!!!!!!!!!!

[Hot-Tod-E]

Hi Cab,

Isn't making bad credit decisions what got people 'down trodden' to begin with? Okay, some people have had medical debts or job losses, etc. Not everyone that files bk has spent lavishly, I'm willing to bet most have not.

But taking on too much debt, not saving for the future, etc. will get people right back in the same spot.

What about saving $2,000 (or whatever) and buying a used car that will be paid for and will not require borrowing money.

She was just discharged, house is still in foreclosure!

Do you see my point?

But, it is a free country and we all make our own decisions. I am deciding I'd rather drive a beater than to have to attend another 341 in my lifetime!

[SinkingFast]

Not a problem Hot!

People have to rebuild for a variety of reasons. Some more quickly than others.

Some need newer cars. Many of us here are driving old beaters hoping they hold together until we're discharged.

Many have young children, or looking to start families and want to buy a house.

Starting with the smaller, sub prime CC's is the way to rebuild. Get a $300 limit with Orchard and Aspire or Juniper. Buy a tank full of gas each month and pay it off. A postive reporting tradeline that lets you graduate to the next level of Lenders and bigger Credit lines.

Trust me, if you read some of these people's horror stories, you'd know they have no intention of wallowing in the mess they were in before BK. Many of us spent years getting to the point we realized that we simply could not dig ourselves out. Or we were holding our ground and lost a job or had a medical issue that caused the house of cards to come tumbling down around us.

This is just Credit to buy a house or a car and have a small CC in case of emergencies. That's what we're shooting for.

[Hot-Tod-E]

Understood SinkingFast! Point well taken

[SinkingFast]

Originally Posted by Hot-Tod-E

Hi Cab,

What about saving $2,000 (or whatever) and buying a used car that will be paid for and will not require borrowing money.

She was just discharged, house is still in foreclosure!

Do you see my point?

But, it is a free country and we all make our own decisions. I am deciding I'd rather drive a beater than to have to attend another 341 in my lifetime!

$2K won't get you a reliable car these days, unless you know who you're buying from. And at that, you've gotta be prepared to spend money on routine repairs. This year alone, we've spent nearly $2500 in auto repairs since January. That's over $400/mo. That's a car payment right there. And we still have to put tires on 2 vehicles.

My brother bought a nice looking car that ran. Better than his old one that's sitting in the driveway and needs an engine. He paid $600 for the new old beater. Within a month, he found out it needs a new transmission. That's $3K right there.

You pay for cars one way or the other.

The house in Foreclosure is a non issue if she included the mortgage in BK.

[Hot-Tod-E]

Well, you were doing a good job convincing me, swaying me over to your way of thinking until this last post.

All I can do is throw my hands up and say good luck!

It can be sugar coated many different ways, but the bottom line is bankruptcy is not a debt management program.

If you save $2000, isn't that like having a credit card with a $2,000 limit. Instead of paying interest, you can earn interest. AND use it for emergencies!

It's like people just don't get it. Let's declare bankruptcy, get rid of our debt so we can go run some more up! Woohoo it's party time!

My fresh start will not include $30k, $20k, $10, or even $5k of debt anytime in the near future. That is my choice. Others have the freedom and ability to make their fresh start as they see fit.

To each their own, I hope it works out.