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In Dec 2010 I was approved with Chase @ 12% on a 2010 HHR for about $13000 at 60 months. I paid ahead each month. May 2011 I refinanced with my credit union @3.35%! (Since I was a new CU member I had to pay Chase for 12 months to develop a good pay history, but the CU approved after only a few months). We have a Capital One card since July 2010 which we use and pay in full each month in order to rebuild our credit. Other than the car and paying off our Capital One each month we are debt free and intend to stay that way, other than home or car payment. Someday we do plan on buying a house. And we do have a cash emergency fund. BK 7 was the best financial decision I ever made!
File Date Feb 1, 2010
341 Mar 8, 2010
Discharged and closed May 10, 2010
Being very careful and wise with fresh start!......Living happily ever after since!
In Dec 2010 I was approved with Chase @ 12% on a 2010 HHR for about $13000 at 60 months. I paid ahead each month. May 2011 I refinanced with my credit union @3.35%! (Since I was a new CU member I had to pay Chase for 12 months to develop a good pay history, but the CU approved after only a few months). We have a Capital One card since July 2010 which we use and pay in full each month in order to rebuild our credit. Other than the car and paying off our Capital One each month we are debt free and intend to stay that way, other than home or car payment. Someday we do plan on buying a house. And we do have a cash emergency fund. BK 7 was the best financial decision I ever made!
thanks so much!! that's a GREAT success story about getting back on ones feet! congrats to you.
edit...oppppps.....i wll be paying CASH for my next one whether it's 15k or 1500.00 LOL!!!
Discharged March 2011.
Applied Capital One June 2011 - only requested 18,000.
Approved 7.12% for brand new
8.19% for a 2009
(and the others of course in between)
60 months
Found a like brand spanking new 2009 Hyundai Sonata with 30,000 miles for $15,000
Putting $4000 down. Payments will be around $270, but will be paying $900 a month for as long as we have no mortgage/rent. Currently have the car waiting for dealership to see if he can find us a better rate (friend of my husband)...if not, we roll with the cap one. Oh, also got 100,000 mile warranty on the car.
I bought car last week. Cap One was offering 9.4%. Dealer gave 7.3%. I'm still waiting on the funding though so the Lo Jack can be installed. Not sure what's taking so long.
Date Discharged: 5/3/10
Lender: Capital one
Date Applied For: 07/08/11
Approval Amount: up to $24,000
Interest Rate: 5.4%
Term: 48
I should mention that I applied for and got a Capital One credit card a few months after discharge. I've used it and paid it off for over a year and they've raised my credit limit. My FICO is 641. I was thrilled with my rate.
Filed Chapter 7 pro se: 1/27/10
341 scheduled for: 2/25/10
Last day for objections: 4/26/10
Discharged! - 5/3/10
Date Discharged: 5/3/10
Lender: Capital one
Date Applied For: 07/08/11
Approval Amount: up to $24,000
Interest Rate: 5.4%
Term: 48
I should mention that I applied for and got a Capital One credit card a few months after discharge. I've used it and paid it off for over a year and they've raised my credit limit. My FICO is 641. I was thrilled with my rate.
Date Discharged: 6/30/11
Lender: Capital One
Date Applied: 7/5/11
Approval Amount: up to $12,000
Interest Rate: 12.94%
Term: 60 months
Payment if full amount used: $272.61/month
Vehicle must have under 70k miles.
We were also approved through another bank at 11% interest on a brand new truck.
Equifax - I was 620 or so and DH was 580 or something like that. I can't remember exactly because the dealer showed it to us so we could sign it.
2/23/11 - Filed notice to convert from Chapter 13 (1/13/10) to Chapter 7
4/4/11 - Meeting of the creditors
6/30/11 - Discharged!!!!!!
Discharged: 9/2009
Lender: Cap One
Date Applied: 7/2011
Approval Amount: up to $19000
Interest Rate: 8.9% @ 60 months
A couple weeks back I went to a few dealers and financing was pretty much 22%-24% through the various lenders incl. Road Loans. Road Loans was surprising since I got a much lower rate (14.9% I think) from them a year ago when looking around and ended up not buying. Recently got a Cap One credit card, so decided to try them for the auto loan after reading about them here. Not sure if having the credit card helped with my auto loan through them or not. Scores were between 660-685. Still looking and deciding about getting a car at this point.
I remembered how much I can't stand car dealerships, the only place that didn't irritate me was Car Max since they don't bother you with that "let me go talk to the manager" garbage.
Soooo...unfortunately, the repair-bills on our 200 Mercury Sable we just paid off got out of hand so I had to get a new ride.
Credit-score: 589 (could have been much higher if I would have been prepared)
Financing Amount: $22,845 financed over 66 Months.
Interest-Rate: 18.24%
Lender: Drive Financial Services
2009 Lincoln MKZ, Certified Pre-Owned, 40k miles, still under manufacturer's warranty, CPO-warranty expires 12/2014 or at 100k miles.
I'm going to refinance this loan after making the initial 6 monthly payments. I should be able to get a much better interest-rate once my discharge had its anniversary and my score is back up at about 660.
Right now, I'm happy that I'm driving a reliable car again and got rid of that ticking repair-bomb.
Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706.
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