topic Re: WFDS Car Loan Post BK7 in Bankruptcy

WFDS Car Loan Post BK7

Anonymous — Thu, 07 Jan 2016 21:53:06 GMT

Awesome news! Since discharge, I was concerned about my vehicle (2014 Honda) being repo'd. Well, Wells Fargo stated to me, they are a Pay and Stay financial institution. Which means keep current on my loan, and I get to keep the vehicle.

Re: WFDS Car Loan Post BK7

pizza1 — Thu, 07 Jan 2016 22:17:27 GMT

thats awesome news! Keep current for sure, and ,make sure they are reporting correctly as well monthly to the CRA's. That will boost your scores too.

Im assumming you reaffirmed the loan with them??

Re: WFDS Car Loan Post BK7

Anonymous — Thu, 07 Jan 2016 22:19:29 GMT

No, didn't reaffirm the loan, per my attorney. That is why I was concerned about WF picking up the vehicle. So I sent a letter and received a call today from WFDS.

Re: WFDS Car Loan Post BK7

pizza1 — Thu, 07 Jan 2016 22:26:03 GMT

@Anonymous wrote:
No, didn't reaffirm the loan, per my attorney. That is why I was concerned about WF picking up the vehicle. So I sent a letter and received a call today from WFDS.

ok, in that case, Ill tell you what I told the other poster. Technically since you didnt reaffirm the loan with them, they dont have to report it the CRA. If they are, then youre lucky, and they are doing you a huge favor. I would stay current and keep paying. They would much rather have you continue paying the loan, than to default and tell them to come pick it up.

Re: WFDS Car Loan Post BK7

Anonymous — Thu, 07 Jan 2016 22:31:19 GMT

I totally agree with you. I'm okay with WFDS not reporting, just happy I have a new vehicle with 6% apr. I have a installment loan reporting from my credit union, which I was approved for a few weeks ago. Now I have a loan and three credit cards.

Re: WFDS Car Loan Post BK7

pizza1 — Thu, 07 Jan 2016 22:33:16 GMT

you should start to see your scores rapidly increase to the low 600's in the next few months. My advice is garden for 6 months. You've got 3 CC and a loan reporting, you will sitting nice in 6 months.

Re: WFDS Car Loan Post BK7

Anonymous — Thu, 07 Jan 2016 22:34:18 GMT

:-) thank you.....

Re: WFDS Car Loan Post BK7

pizza1 — Thu, 07 Jan 2016 22:41:34 GMT

@Anonymous wrote:
:-) thank you.....

no problem...also make sure that all your reports are reporting correctly...any acct that was IIB, needs to state IIB/$0 bal. Thats very important

Re: WFDS Car Loan Post BK7

Anonymous — Fri, 08 Jan 2016 02:13:58 GMT

Good to know.... I too have an auto loan with them for a '14 Sonata. Which I plan to keep my int rate is 7%.

Re: WFDS Car Loan Post BK7

ss44 — Sat, 05 Mar 2016 14:13:29 GMT

Did your interest rates change on auto loans after bankruptcy?

Re: WFDS Car Loan Post BK7

Anonymous — Sat, 05 Mar 2016 14:16:52 GMT

Nope, it was kept the same. There were no changes to the contract, and as of today, still have the vehicle.