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    Question Auto Loan

    Hello, I’m in Oklahoma and is there anyone that can tell me if there is any banks that help people in an open chapter 13 bankruptcy with an approved trustee letter to get a vehicle?

    Welcome to BKForum.

    You could go to a couple of dealers. Most of them are well aware of Chapter 13 debtors and have a list of specific banks that will lend. Just tell them you need to talk to the finance manger first. You might even be able to call them. Don't let them just "shotgun" your application. Be very clear that you don't want them to just run you through every bank. You want to know if they have specific banks capable of lending to an active Chapter 13 debtor.

    Good luck.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.


      ataylor0524 when you go to a dealership make sure they have experience with BK 13.

      We bought a car during BK 13 when my car was totaled. We had to first get a quote for a loan and financing, we needed a down payment. That info was given to my attorney who had to file with the court/trustee to get the ok for us to move forward. We did NOT get the car that we had the original quote because it takes time to get approval from the trustee, therefore that car was sold to someone else.

      We went to go to a different dealership and get a car in the same price range. It was at that point I realized the first dealership really didn't have much experience with BK 13. The dealership we ended up using knew the BK game and found a car that they knew the creditor (bank) would be ok financing since it has a good resale value meaning if we defaulted or the car was totaled they would be able to recoup the cost.

      After our BK discharged, about 3 months later we bought a second car and were able to get a loan.

      Both cars do not have super low interest rates, but they are not sky high either.
      I am not an expert. I just share my experiences in the Wonderful Wacky World of Chapter 13! Filed 3-30-18 Confirmed 7-11-18 Discharged 6-8-22


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