car loan after chapter 7

[Anonymous]

hi all, thank god i found this site. we have a loan thru regional acceptance, they are stating they do not reaffirm auto loans for chapter 7. we now have to include the car in the filing, are there any lenders who finance without breaking my back with interest rates? i know my scores right not are around 570-580 before we complete the discharge, and have a solid payment history on the loan for 15 months. 

[Anonymous]

Usually if the loan is not reaffirmed, it becomes a pay and drive. You can keep driving it until you stop making payments. The lender doesn't want to go through the hassle of a repo if they don't have to.

Is the car upside down? Is the interest rate really high? Not reaffirming is a lot of times in your best interest if upside down.

If you do pay and drive and get 3-6 months out of bk, you'll most likely get a better rate. I'd head over to the bankruptcy forum and read up on how to join NFCU as a civilian. They are bk friendly as is cap1. That is if you didn't burn them.

[RonM21]

Agree. NFCU seems to be a good option for this as well as the rates. A lot of info on the other forums about them.