big financial problems

Anonymous — Tue, 10 Nov 2009 20:33:39 GMT

1) i went into a ch 13 earlier this year to save my car after wells fargo demanded the $15,000 i owed on it. long story.. it was the last thing i had to get caught up on and they refused to budge.

2) ch. 13 going smoothly.

3) my car was hit in a hit and run accident in front of my house....and TOTALED out.

4) lawyer suggested converting to a 7 and getting that over with since car was really hte only reason i was in the 13.

5) all of car note in the bankruptsy is covered by insurance payout, and GAP insurance.

6) i have no cosigner and everybody seems to want one or $2000 or $3000 down payment...i don't have that....

what can i do to get an auto loan and be on my way?

Re: big financial problems

Anonymous — Sun, 15 Nov 2009 12:59:09 GMT

If you go Chapter 7, then it will need to be discharged before anyone will give you any type of loan or financing.

However, if the insurance and gap will cover the note, then why go 7? Are there other debts you are making payments on or was it just the auto loan?

The reason I ask is that Chapter 13 is 7 years reporting on credit and Chapter 7 is for 10 years.

topic Re: big financial problems in Auto Loans

big financial problems

Re: big financial problems