topic Capital One Auto - opinions/experiences in Auto Loans

Capital One Auto - opinions/experiences

Anonymous — Thu, 26 Mar 2015 02:24:51 GMT

So, while awaiting a chapter 13 discharge, I rate shopped and was denied by COAF...that was 3/6...now that I'm officially discharged, should I try again? Only reason given in my denial letter was "presence of a bankruptcy'...just not sure if I want to get burned again...

Re: Capital One Auto - opinions/experiences

guydiver — Thu, 26 Mar 2015 03:45:58 GMT

How does it show on your reports?

Re: Capital One Auto - opinions/experiences

Anonymous — Thu, 26 Mar 2015 13:04:47 GMT

Well, it doesn't show as 'discharged'...it shows my filing for the public record, and my accounts (included in the bk) all show IIB and zero balance. Popular belief is that Cap 1 uses LexusNexis for public record info, I just don't know how long they take to update their info, or if it's instant once the discharge shows through the court records...

Re: Capital One Auto - opinions/experiences

flan — Thu, 26 Mar 2015 13:27:32 GMT

@Anonymous wrote:
Well, it doesn't show as 'discharged'...it shows my filing for the public record, and my accounts (included in the bk) all show IIB and zero balance. Popular belief is that Cap 1 uses LexusNexis for public record info, I just don't know how long they take to update their info, or if it's instant once the discharge shows through the court records...

Lexus/Nexis gets updates on a constant basis, a bankruptcy will show up pretty quick, becaues federal courts have decent electronic records, and L/N customers think bankruptcy is important...

Re: Capital One Auto - opinions/experiences

guydiver — Thu, 26 Mar 2015 14:56:32 GMT

Sounds to me like they want it to be discharged. Just me and IMHO, but I wouldn't get too trigger happy until it does. Pretty sure that goes for most lenders too.

Re: Capital One Auto - opinions/experiences

TRC_WA — Thu, 26 Mar 2015 18:28:12 GMT

@guydiver wrote:
Sounds to me like they want it to be discharged. Just me and IMHO, but I wouldn't get too trigger happy until it does. Pretty sure that goes for most lenders too.

It most certainly does.

I went car shopping within a few days of my discharge back in 2013... and every single one of my denials/conditional approvals said that proof of discharge must be supplied.

Wait till your reports are updated.