Is Lightstream BK Friendly?

[Anonymous]

Hi guys,

Need some advice on refinancing my auto loan which is currently with a local CU and I owe $25k, 66 months @ 6.99%.  I am thinking about applying for auto refi w/ lightstream since they are offering 2.49% - 3.49% rate.  My question is, are they BK friendly? And if not, are there any other lenders who are BK friendly w/ similar terms?

I filed for BK Ch7, which was discharged in Dec 2013 and since then i have been able to re-establish my credit.  My FICO Auto Score 8 - EQ 697, EX 668, TU 696.  Fico 8 - EQ 705, EX 693, TU 679.  I have Barclays Arrival+ $10k limit w/ less than 10% utilization, BofA Cash card $5k w/ 3% utilization, Cap one $1300 & Quick silver $1500 w/ 3% utilization.  I payoff balances each month and have not been late on any payments (mortgage, auto loan).  DTI ratio is less than 15% including auto & mortgage payments. 

I would be grateful for any advice/information you can provide.

[Taoron]

Found this for you OP, hope it helps some.

LightStream is the online lending division of SunTrust Banks Inc. They offer low interest, unsecured loans for highly qualified customers. LightStream offers "The AnythingLoan" which can be used to finance your new or used, private party or dealer, car purchase.

• LightStream delivers a revolutionary loan process
• Low interest rate unsecured loans for highly qualified customer
  - Minimum FICO credit score of 700 required to qualify
  - A substantial, excellent credit history is a must
• LightStream offers their unique "Customer Experience Guarantee"
• Receive funds as soon as the same day of your application on banking business days
• LightStream loans can be used for new or used cars, private party or dealer
• LightStream does not charge any fees of any kind!

[Jeff532003]

Have you spoken to your CU about an interest rate reduction now that your credit profile has improved? They may be willing to negotiate to keep your buisness.

[Anonymous]

Thank you both!  Lightstream doesn't seem to be a good option

I tried to go thru CU to refi but they were going to charge me $150 fee & reduce interest rate only by 1%. It was a waste of HP. 

I will try to find another CU with better rates.  I will keep you guys posted!

Thx,