2 years past ch. 7 discharge and can't get a loan?!!

[IBroke]

geesh, i wonder what's going to happen when we need a car and it doesn't say repo it says voluntarily surrendered?

I think that's the "gentle" wording for "repo". That phrase has been used on my accounts as well...

[tobee43]

I think that's the "gentle" wording for "repo". That phrase has been used on my accounts as well...

well, i don't know about that. they never did repo it. we made arrangements with them to return the car. i really just want a reliable car, but we are concerned because it's so old even tho we take excellent care of it it's hitting 100k miles.

[IBroke]

well, i don't know about that. they never did repo it. we made arrangements with them to return the car.

I did the same. I even called them myself and we agreed on a location where I gave the keys to them. In regards to credit, however, that doesn't really matter since the original agreement has not been fulfilled either way. A voluntary surrender looks better on a manual review - but when it comes to scoring, I highly doubt you can tell a difference.

http://www.experian.com/ask-experian...urrender-.html

http://www.ehow.com/about_6575311_re...ering-car.html

[tobee43]

i'm not hoping we won't need it that soon. our FICOs are in the 700s so when we do need it i hope that will help a bit.

[IBroke]

i'm not hoping we won't need it that soon. our FICOs are in the 700s so when we do need it i hope that will help a bit.

You should be fine. Keep in mind that my two bad auto-loans weren't my only derog accounts on file. Although old, I probably have about 15 negative accounts on my report and was still able to get a loan - and my FICO is still not in the 700s.

[tobee43]

You should be fine. Keep in mind that my two bad auto-loans weren't my only derog accounts on file. Although old, I probably have about 15 negative accounts on my report and was still able to get a loan - and my FICO is still not in the 700s.

thanks, i just was hoping it wouldn't be at 10% if we needed one. then there is always the possibility of just out right buying what we can afford with cash. now so many used cars have good auto warranty it might be a way to go without taking out a loan.