Well, we are going to let a car of ours go in our ch. 7 BK. We need a car to replace it so the lawyer said go ahead and get one with a co-signer. We are filing in a week. I was wondering how we approach this with the bank. They will see we haev 2 cars already...how do I convince them we need a third. Do I just say we are letting one of the cars go? I have a co-signer lined up I just need help with how to approach this. Thanks!
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Good Luck, because the bank will see you are already in financial stress if your fixing to file BK..
Did your attorney discuss using the Redemption 722 plan since you are surrendering an auto in your bankruptcy.....??
Keep us postedMinny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different. -
I would suggest getting a junker for now!BUSY running my own credit repair services! Sorry I don't stop in so often any more!Comment
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We are up to date on our cars and home. We are behind a month or two on some credit cards and they carry high balances. Our co-signer has money in the bank greater than the cost of the used vehicle we are looking at. Unfortunatley, I don't know that much about banks and what they look at when considering a loan with a co-signer. I am hoping that having a co-signer will solve this problem but I am dreading the call from the bank and the probable no we will receive.Comment
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You can just tell the bank you're trading in the other vehicle.
If your co-signer has the funds available to personally guarantee the note, the answer should not be NO.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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Originally posted by SinkingFast
I hope your right! *crosses finger*Comment
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