I can't catch a break, need a personal loan

[rgalexander]

Recently, I posted that I was able to get an auto loan @11.5% only 3 months out of discharge. Since then I can't catch a break. I also have a 1999 Mitsubishi Gallant with 125k miles and I have 18 months of payments. My starter and several other parts went dead and I am in need of repair work that will total $1,500. I don't have any savings nor friends or family that I may borrow the money from. What can I do? Major finance companies won't loan me any money since I have filed bk. It would take me several months to save $1,500. I don't want to trade it in since I am upside down and don't want to begin paying on a new loan. Where can I go, what can I do?

[sobroke]

Maybe I didn't understand your post, but why wouldn't you just let the bank take the car back? Did you include it in bankruptcy? If you did, then you wouldn't be liable for the deficiency balance. It sounds like that car isn't helping you out that much either.

[rgalexander]

I can't catch a break, need a personal loan

The problem is that the car's title was in my mother's name so I couldn't include it in my bankruptcy.

[sobroke]

Oh...sorry to hear that. Do you have to get it fixed right now?

[rgalexander]

I can't catch a break

Wife and I were able to survive with one car but due to job changes and lack of public transportation, I need to have this car fixed.

[HRx]

It can be kinda hard to get unsecured loan this early, and for that amount. See if you can sell stuff for extra money. Is it possible for someone in your household to obtain a part-time job to earn extra money?

Good Luck!

[sobroke]

YOu may also want to check with some smaller auto repair shops. Some of them will let you make payments. Sorry, I don't have a quick answer.

[rgalexander]

Nobody ever said that post-bankruptcy would be easy. I went from one high to a low. Thanks for the advice, I will have to sweat this one out.

On the way to 700

[Genenco]

Nobody ever said that post-bankruptcy would be easy. I went from one high to a low. Thanks for the advice, I will have to sweat this one out.

On the way to 700

That's very true, post BK can suck. But, depending on your area, the advice of checking some shops for a "Payment Plan" is a workable option...

I recall the time my van croaked (3 days off the lot!) and a new tranny was required..The shop did the repairs, the dealer coughed up $450 (Which I said was VERY decent as it was 10% of sale price and legally, they didn't have to do anything!) The thing was, the reapirs were financed through a small loan company, at only 18% interest.

Also, there was a card "Bank One" which I think still does accept risky customers, but for low amounts and that $1,500 is not all that big.

Best of luck!

[HRx]

Always remember quid pro quo...............

[edwards2]

It is tough post BK; for that matter it was tough pre-BK but it will get better. We all knew the fallout from filing and unfortunately what you are experiencing is part of that. We had to buy another vehicle too but we didnt get as good a rate as you did. Our son had to have a vehicle to get to school and work. We did get a good deal on the truck but we really need to pay it off as quickly as possible because the interest rate is too high...another consequence of BK. Then my husband's car needed repairs; the dealership wanted $950; we found a small, reliable repair shop that charged $550 for the same work. The bottom line is we are much better off and things will get better from a credit standpoint. We all learn from our mistakes. I agree with sobroke...maybe a smaller repair shop will work something out. The misnomer is when we file BK then we instantly have a lot of money...not true - at least not for us. We are building our credit and trying to save and economize whenever we can but it will take time...good luck..

[losing_it]

I dont know how far you are from work or a bus station, but try riding a bike. You will be surprised how far you can travel on one. The only thing is you need a way to get groceries home too. You could use a back pack or something. I ride a mountain bike quite often, but I'm close to a lot of things too, you might not be close to your job or stores. Its an idea though, just trying to help
Hopefully you can find a loan somehow.

Its times like these when i wish I could hit a lottery and share my winnings with people It makes me sick how some people in this country have millions or billions of dollars while many others don't have much at all. I read where some baseball player signed a 5 year contract for like 60 million. Now what in the world is one person gonna do with 60 million for 5 yrs work? Thats why I don't buy tickets to games or even concerts (unless the concert is $20 or less). We have a semi pro hockey team here and their tickets went from $5 to $10. The concessions go up every year too. I stopped going 2 years ago and said the heck with it. They make enough as it is. Let the rich folk pay em. I'll watch it on tv or listen to the radio

[Genenco]

Its times like these when i wish I could hit a lottery and share my winnings with people It makes me sick how some people in this country have millions or billions of dollars while many others don't have much at all. I read where some baseball player signed a 5 year contract for like 60 million. Now what in the world is one person gonna do with 60 million for 5 yrs work? Thats why I don't buy tickets to games or even concerts (unless the concert is $20 or less). We have a semi pro hockey team here and their tickets went from $5 to $10. The concessions go up every year too. I stopped going 2 years ago and said the heck with it. They make enough as it is. Let the rich folk pay em. I'll watch it on tv or listen to the radio

In some ways Losingit, I agree. But those players are paying about 50% just for reps, taxes and other stuff..But sure, they can afford it :P

I do recall the largest winner of Oregon Megabucks. He didn't need the win (He owned 3 Chuck E Cheeses) but when he did win, he slated 80% (Yes, EIGHTY PERCENT) for a "Halfway house" for mentally handicapped people to transition into normal living, teaching them how to survive.

NOW that's how it helps. But, he had a reason, his oldest son was such. So, I felt the money was well spent, now and way into the future.

Problem is, we rarely hear what other lottery winners did, some I'm sure have done good...

[losing_it]

In some ways Losingit, I agree. But those players are paying about 50% just for reps, taxes and other stuff..But sure, they can afford it :P

I do recall the largest winner of Oregon Megabucks. He didn't need the win (He owned 3 Chuck E Cheeses) but when he did win, he slated 80% (Yes, EIGHTY PERCENT) for a "Halfway house" for mentally handicapped people to transition into normal living, teaching them how to survive.

NOW that's how it helps. But, he had a reason, his oldest son was such. So, I felt the money was well spent, now and way into the future.

Problem is, we rarely hear what other lottery winners did, some I'm sure have done good...

Ive heard that most lottery winners of a million or more are filing bankruptcy within 5 years due to money grubbing so called "financial advisors" and bad investments. It should be pretty simple. Put 50% or more in a "safe" investment like a bond or savings account, plan a budget to live off of the interest that it pays, and use whats left over to help others, splurge, be part of "make a wish foundation". Theres SOOO much they could do. I think most of them just splurge, go to VEGAS and blow it. Me personally, I'd rather get beat upside the head with a hammer than blow it on "risky" investments and gambling. It just makes me wonder where the heck some people's priorities are. I'd rather touch a heart than carry a straight flush of hearts.

And I'm glad to hear that lottery winner did that. Its rare but I guess the right person hit the big one that day. I use to work in a home for mentally handicapped adults.

[davids]

Puzzled, Turn down for car loan...

what a bunch of nimrods at this dealership..

ok, my credit sucks, I have had inactive credit and credit cards for many years, its just recently I leased a satern...I am wantting to get another car, when they ran my credit report, they found $20k in recent dept, i explained to them that I was not reliable nor responsible for this credit card charges, and I have a letter from the credit card company that says I am not obligated to that debt, I was only an Au user of a credit card, no signer, no cosigner, but the credit card owner went bad... but since I had a letter that shows that I am not reponsible, why not sell me the car?

how does inactive credit for several years all of a sudden go $20,000 in debt, it really cant happen, with inactive credit you cant really get credit, and my new car is up to date, so put 2 and 2 together.

they did no research, they did not contact any car lenders either, this was like a 5 min process, then i was showed the door.... I do not understand the lack of helping a client purcase a car, they wasnt going to fiance for sure, but I already have a loan with GMAC, why did they not contact them and explain this to them?