Credit offer in mailbox today

[andy158]

I am only 3 months into my chapter 13 and got a loan voucher certificate for $21,523 for car replacement. This is through the Montrose Auto Group from Alliance, OH. Anybody hear of these people? Says I am qualified to participate in there "Fresh Start Program" for people going through chapter 7, 13 or recently discharged bankruptcy. No fine print about interest rates or down payments. Sounds too good to be true or the interest rates are like the credit cards I filed on. They had a web address in the info and it checked out.

[rrockinggramma]

generally these are "come ons" to get you in the door. Since you are in an active chapter 13 you would have to get trustee permission to do anything and it could modify your plan. Big ticket purchase items are off limits until after discharge without trustee approval.

[Flamingo]

When you file for BK, or at discharge, there are creditors who wait for that information like vultures trying to hook you on their line. Your filing information is public information and creditors go after it for high interest/fee offers. Rockinggramma is correct as she advises you that since you are now in Chapter 13, taking on additional credit during your Plan may require trustee approval. Check with your attorney before you apply for any credit during your Plan.

[DSIG]

don't take the bait. Doesn't it feel good to just make payments to one person monthly for your debt and pay for everything else in cash? I feel much more in control in this type of scenario.

[andy158]

I know I would need approval, but just found it odd to get info like this already. I am in no means ready to accumulate any type of debt unless it is an absolute necessity. I am looking at getting laid off after Thanksgiving. Like the old addage says, "if it is too good to be true, it usually is".

[Flamingo]

I know I would need approval, but just found it odd to get info like this already. I am in no means ready to accumulate any type of debt unless it is an absolute necessity. I am looking at getting laid off after Thanksgiving. Like the old addage says, "if it is too good to be true, it usually is".

You will find during your Chapter 13 you will receive stuff like this for a while mostly because (1) you filed and it's public information and creditors always do mass mailings to certain sectors of the public for whatever they are offering; and (2) your name is probably on previous mailing lists floating around and you could receive all sorts of junk mail for a while. Don't find it odd getting that stuff. We recycled/shredded all the garbage that came to us for a while and eventually it all died down until we were discharged and then it started again.