topic Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick in Bankruptcy

Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quickly?

Anonymous — Wed, 17 Feb 2021 17:49:46 GMT

Hi all.

I am so happy that today I finally received my Chapter 7 discharge!

We decided not to reaffirm my current car in bankruptcy, and I need to get a new one fairly quickly. Are there steps I can take to get reporting of the discharge to the credit monitoring agencies faster than usual?

Any help appreciated. Thanks!

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Anonymous — Wed, 17 Feb 2021 18:01:30 GMT

I don't think there's a way to expedite the process.
I don't think there's a need to, your discharge should update on your reports rather quickly.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Anonymous — Wed, 17 Feb 2021 19:35:08 GMT

They updated my reports with the filing and the discharge within 2 days each time.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Anonymous — Wed, 17 Feb 2021 20:25:58 GMT

I see. I read on some site it could take thirty days or more. Thanks for your insights!

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Bankrupt2019 — Wed, 17 Feb 2021 22:30:17 GMT

What're you hoping to buy 1 day post BK7 DC?

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Anonymous — Thu, 18 Feb 2021 15:50:30 GMT

'71 Rolls Royce Phantom, no engine, moderate rust on frame. Think Capital One will finanace me?

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

CreditMagic7 — Thu, 18 Feb 2021 16:27:51 GMT

Now that's done and you are debt free wish you much luck & opportunity climbing back into a stable credit profile.

After my DC the mailbox literally filled up with offers galore for slightly used/new vehicle invitations.

Others can offer you some insight on best rates with various bank financing. Just try to not be sucked into to-good-to-be-true offers which can debt load you all over again.

Best of Luck

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

dragontears — Thu, 18 Feb 2021 20:05:09 GMT

@Anonymous wrote:
'71 Rolls Royce Phantom, no engine, moderate rust on frame. Think Capital One will finanace me?

You want to buy a nonfunctional vehicle?

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

incognitony — Thu, 18 Feb 2021 20:29:37 GMT

@Anonymous wrote:
'71 Rolls Royce Phantom, no engine, moderate rust on frame. Think Capital One will finanace me?

I think they only go back to 1972.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Mjhall85 — Thu, 18 Feb 2021 20:32:12 GMT

Shortly after my discharge,capital one approved me up to 40k but I ended up using the dealer financing as I got under 4% from them.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Anonymous — Thu, 18 Feb 2021 21:00:40 GMT

No, I don't, actually, but I'm not there to solicit advice on what to buy.

Just asking how/when discharge will be reported on credit report.

And not that it matters at all, but the first RR Phantom rolled off the line in 1925.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

incognitony — Thu, 18 Feb 2021 21:42:54 GMT

I meant Cap 1 would only fianance back to 1972, thought you were joking but obviously I misread the room. Hopefully you can find something quality like a Range Rover or Fiat.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Anonymous — Thu, 18 Feb 2021 22:01:39 GMT

No, you read the room right. I didn't.

If everyone must know, I'm eyeing a 2016 Honda CRV with 49k in the dial.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

incognitony — Thu, 18 Feb 2021 22:16:25 GMT

Well maybe you can get a RR grill for it. Hopefully it'll work out. I got a car 2 weeks after discharge but the dealership basically picked it out for me. Down payment will help with most deals at this point. I refinanced mine 7 months later at a credit union to a good rate.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Anonymous — Fri, 19 Feb 2021 04:03:59 GMT

My advice is to find a solid beater that you can pay cash for that's not in terrible shape.

Preferably, have a trusted mechanic go over it and see if anything is obviously wrong first.

You just got out of bankruptcy and if you do make any deals right now they'll probably be at an awful interest rate, and if there's things going wrong on top of a car payment you could find yourself in trouble again with a finance company. They'll tell you "Oh, just roll this warranty from some company in Chicago that doesn't answer the phone into the loan.". They got my mother like this.

Financing a car, even at 0%, was one of my worst mistakes, and it was one of the ones the bankruptcy court ripped up and I've never been more relieved in my life.

Until now, I've never truly appreciated just taking the car in every 6-8 month and have the shop fix something and then have several more months go by where it's basically only costing me gasoline.

I used to think, "Oh God, it's embarrassing to even drive this thing. It has dings and scratches and blah blah blah.", but to be honest, you buy a new car and you park it out away from the crap, and people find you and ding it and scratch it anyway.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Bankrupt2019 — Fri, 19 Feb 2021 04:14:25 GMT

@Anonymous wrote:
'71 Rolls Royce Phantom, no engine, moderate rust on frame. Think Capital One will finanace me?

Lol, glad to see some people still have a sense of humor. However, it's actually not that funny. They probably would 😂🤣😂

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

mich800 — Sun, 21 Feb 2021 00:28:27 GMT

@Anonymous wrote:
No, I don't, actually, but I'm not there to solicit advice on what to buy.

Just asking how/when discharge will be reported on credit report.

And not that it matters at all, but the first RR Phantom rolled off the line in 1925.

Are you asking because you think your scores will increase once it is reported, or so prospective lenders know the BK has been resolved?

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Anonymous — Sun, 21 Feb 2021 19:34:25 GMT

My scores are 654, 660, and 651, respectively. I was able to raise my score over 100 points after my 341 meeting by opening a new credit card account with Capital One. I expect the scores to stay right about where they are after discharge. However, most auto lenders won't offer you a loan until your discharge is complete.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Mjhall85 — Sun, 21 Feb 2021 23:26:41 GMT

the crazy thing is many lenders can get you approved while bk is open but I would advise against that as the rate will be crazy high. With your scores being mid 600's you should get a decent rate of course it depends on lender and how good of a car deal it is.

Re: Rcvd Chap 7 discharge today--need new vehicle. How do I get discharge reported to agencies quick

Anonymous — Mon, 22 Feb 2021 22:50:59 GMT

An update: Discharge is now showing on all three agencies. I'm preapproved now for Cap One auto navigator for 5-7%, depending on car. Full speed ahead with that CRV!