cancel
Showing results for 
Search instead for 
Did you mean: 

Pending Ch 7 and 341 meeting is next week.

tag
Anonymous
Not applicable

Pending Ch 7 and 341 meeting is next week.

 

We have our 341 meeting next week and our car got flooded and it is totaled. We're needing to get a new/used car and we still owe on in so therefore, won't be getting anything. What lenders are friendly to those that are in our situation? I've called a few credit unions around and they said we have to have a 2 year credit building history and a good credit score. We both above 580 to 640. 

 

 

Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Pending Ch 7 and 341 meeting is next week.

Try some of the local dealerships after your 341 meeting. After I filed Ch. 7 I started receiving pre-qualified offers from the local dealerships (Georgia) offering me a vehicle. The small print on every last offer stated I had to have my 341 meeting already. So I would go to the meeting first and then talk with the finance department about what else you may need. I am in need of a car without a large down payment myself and plan on getting a small low priced vehicle for the time being until I can trade up into the SUV I want.

 

I know there are some more experienced people on the thread and maybe they'll reply with some good suggestions as well.

 

Good luck!

Message 2 of 5
Anonymous
Not applicable

Re: Pending Ch 7 and 341 meeting is next week.

Talk to your lawyer. They will be able to advise you. But as stated above, after the 341 meeting, you are basically free. Realize that your rates right out of filing will not be good.

Message 3 of 5
Anonymous
Not applicable

Re: Pending Ch 7 and 341 meeting is next week.

Most lenders will not touch anyone who does not have a bk discharge but there are some auto brokers who will work with you only after the 341 meeting.  Check with your lawyer and see if he has anyone he can recommend.  Just be aware your payments will be high, you might want look into possibly renting a car for 3 months, car rental agencies do offer long term rentals at reduced rates but you would have to rent for at least two months.  This way you don't have to worry about a down payment or getting car insurance so it may save some money in the short run and there are no credit checks.

 

Message 4 of 5
Anonymous
Not applicable

Re: Pending Ch 7 and 341 meeting is next week.

Thanks for the suggestion. After checking with the car rental, the cheapest I found for 2 months is $1800. Umm... thanks but no thanks. 

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.