topic Re: Question - after bk in Auto Loans

Question - after bk

4us- — Tue, 25 Sep 2012 15:49:01 GMT

Hi All!

I love this forum and have learned so much just by lurking. I joined NFCU last week. I am wondering if I would be able to get an auto loan there after my bk is discharged in about a month. Does anyone have any experience with this? What could I do to up my chances (set up direct deposit, open a secured cc, etc)

Thanks!

Re: Question - after bk

coreyb80 — Tue, 25 Sep 2012 16:10:46 GMT

Honestly they may want to see at least 12-24 month post BK payment history before giving you the loan. I tried with my local CU and they requested the same. Once I get an auto loan I will be going back to them to refi. YMMV and blessings on your quest.

Re: Question - after bk

4us- — Tue, 25 Sep 2012 16:27:39 GMT

Thank you for the info!

Blessings to you too!

Re: Question - after bk

Poorboi — Tue, 25 Sep 2012 16:39:47 GMT

Capital one approved me of a car loan the same day of my discharge. I didn't take it . It was 16k max I wanted /needed more

Re: Question - after bk

4us- — Tue, 25 Sep 2012 16:50:00 GMT

I would take 16k. I don't think I would want more, depending on the interest rate. What rate did they offer you?

Thanks!

Re: Question - after bk

coreyb80 — Tue, 25 Sep 2012 16:52:15 GMT

A 16K approval would be nice right about now. I'm going to wait until my discharge is completed which should be around mid November as we just had our 341 on the 18th.

Re: Question - after bk

4us- — Tue, 25 Sep 2012 17:36:10 GMT

This waiting game is the worst! I had my 341 in August. I'm hoping for a mid-October discharge, but I'll bet it will be towards the end.

Re: Question - after bk

coreyb80 — Tue, 25 Sep 2012 18:26:43 GMT

I agree the waiting game is the worst. I'm attempting to avoid anymore inquiries until I'm officially discharged.

Re: Question - after bk

4us- — Tue, 25 Sep 2012 19:43:40 GMT

What have you applied for and been approved? I want to jumpstart my rebuilding...but I'm afraid of the denials!

Re: Question - after bk

coreyb80 — Wed, 26 Sep 2012 11:18:05 GMT

I've only tried Cap One and was denied. I believe this is because my debts from them being included in my 7 hasn't been discharged yet. I'll try once I receive my official discharge. I'm not applying for anything else until then.

Re: Question - after bk

Shogun — Wed, 26 Sep 2012 13:42:58 GMT

Time heals all wounds, I just wish it would hurry up! Good Luck

Re: Question - after bk

4us- — Wed, 26 Sep 2012 15:16:33 GMT

I included Capital One as well.... I am going to wait for discharge before I try to apply with them. My fiance got a card from them that I am an AU on, so I am hoping that will help me.

Re: Question - after bk

coreyb80 — Wed, 26 Sep 2012 15:51:59 GMT

When I did apply with them I got a letter in the mail stating unpaid obligations with them. That's when I said I will wait till discharge and then try my luck.

Re: Question - after bk

4us- — Wed, 26 Sep 2012 15:56:36 GMT

Have they updated your CR yet? All of my accounts with them now have a 0 balance and say "included in bankruptcy." One of them was still reporting a balance, so I disputed it as IIB and they changed it to 0 balance, pays as agreed and closed. Weird. Should I wait all the way for the actual discharge?

Re: Question - after bk

coreyb80 — Wed, 26 Sep 2012 17:32:52 GMT

If your CR has been updated then you're good to go. I need to check mine. Where did you check yours without incurring a fee?

Re: Question - after bk

4us- — Wed, 26 Sep 2012 17:51:12 GMT

I just did "Initiate a DIspute" on the credit bureaus website. Then I could look at everything and dispute away.

Re: Question - after bk

coreyb80 — Wed, 26 Sep 2012 18:33:08 GMT

Just checked mine and it hasn't been updated as of yet, but I did a file a dispute on a few accounts in the meanwhile.