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fcaporale
Posts: 1
Registered: ‎10-07-2012
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Looking to refi following a Ch7 BK

I have a perfect car payment history, since 2000, with one exception.  I was 42 days past due on my car loan with a local CU and they repoed my car!  The CU had pulled a credit report, and my financial picture became clear.  I was on a fast track toward a Ch7 BK, and they worried I would end up rolling my car into it so they took it back before I had the chance.  Never been late or had ANY other issues with a car payment, EVER!!!  Too bad I had planned to maintain current payments and KEEP that car through the BK process.  Stupid CU.

 

Anyhoo...

 

Following the repo, I could only find financing from Santander, and am currently financed with them at something like 26%.  I financed with them before filing my Ch7 BK, and reaffirmed the debt during the BK process.  My BK was discharged April 2012.  I have maintained a perfect payment history on this car since  I acquired it in April 2011.

 

Santander has started to report to the bureau's again, which is great.  However, I am TIRED of paying the interest rate that I am!  So I am looking to refi this puppy with another company.  Only problem is- I haven't a CLUE which companies will touch a refi following BK!  Google research led me to 1) Santander and 2) Roadloans.  These are the same company and I am currently financed with Santander, so that doesn't help me in the least.

 

Anyone have suggestions on who to apply to in order to obtain an auto refi following Ch7 BK?  I could really use some "been there, done that" advice as I really can't afford a bunch of credit rejections.  Help?!?

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StartingOver10
Posts: 4,125
Registered: ‎03-06-2010
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Re: Looking to refi following a Ch7 BK

I was discharged from my BK in Jan 2009. I bought a used vehicle in Jan 2011 from a Toyota dealership and they were able to finance me with Chase.

I am self employed so its a little bit more difficult, but my interest rate is 7.14%

You might try Chase - it worked for me.

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Hammer23
Posts: 428
Registered: ‎01-21-2012
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Re: Looking to refi following a Ch7 BK


StartingOver10 wrote:

I was discharged from my BK in Jan 2009. I bought a used vehicle in Jan 2011 from a Toyota dealership and they were able to finance me with Chase.

I am self employed so its a little bit more difficult, but my interest rate is 7.14%

You might try Chase - it worked for me.


www.wellsfargodealerservices.com

 

www.capitalone.com/autoloans

 

 

Either one of those companies will refinance you post BK. 

 

My experience is that Wells has better terms than Cap 1 buy YMMV. My wife refied her car with WFDS after our BK at 8% 

WF Home Projects Visa $8500 / Towpath CU Visa $7000 / Chase Freedom Visa $5500 / Cap 1 QS Visa Sig $5000 / Barclaycard Ring MC $5000 / GE Lowes $5000 / Citi Best Buy MC $4250 / Barclaycard Rewards Visa $4000 / BFG CU Visa $3500 / Citi Sears$3000 / WF Visa $2000 / GE Walmart $1900 / GE Care Credit $1900 / GE Amazon $1400 / Cap 1 Kohls $1000 / GE Old Navy $800 / Webbank Fingerhut $700

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