Denied Auto Loan- 4 yrs after bankruptcy
09-26-2007 08:34 PM
I'm new to thisd and hope someone can help me out~ 4 years ago, my husband and I had to unfortunately file bankruptcy. We were able to keep his truck, my car and our home and continued normal payments. He was actually leasing and when the lease was up, he bought it out- with no problem with the bank at that time (which was 1.5 yrs after the bankruptcy). My car loan was paid off in 12/06- in good standing. Here's my problem. Today- I called the bank that I had my previos car loan through- applied for pre-approval because we need to trade in my current car and get a new car and figured this was better than dealing with the dealership. WRONG- we were denied!!! They said the bankruptcy was too recent!The girl was even apologetic when she called me back- said that she even tried to bring to their attention that I had paid off previous auto loan and had no late pays on mortgage (which we've had for 17 years)- to no avail! My FICO score through Experian is 633. What do we do now- We've gone 4 yrs ( basically 5 1/2 because we had done 1.5 yrs through a credit counseling agency before having to do the bankruptcy) with no issues except we did have 4 medical bills turned into collections- dumb oversight which were then paid- we've joined a credit union- which we've built up an excellent savings account- and all payments for bills are paid EARLY!