Showing results for 
Search instead for 
Did you mean: 

Auto Refi following Ch 7 BK

New Member

Auto Refi following Ch 7 BK

I have a perfect car payment history, since 2000, with one exception.  I was 42 days past due on my car loan with a local CU and they repoed my car!  The CU had pulled a credit report, and my financial picture became clear.  I was on a fast track toward a Ch7 BK, and they worried I would end up rolling my car into it so they took it back before I had the chance.  Never been late or had ANY other issues with a car payment, EVER!!!  Too bad I had planned to maintain current payments and KEEP that car through the BK process.  Stupid CU.




Following the repo, I could only find financing from Santander, and am currently financed with them at something like 26%.  I financed with them before filing my Ch7 BK, and reaffirmed the debt during the BK process.  My BK was discharged April 2012.  I have maintained a perfect payment history on this car since  I acquired it in April 2011.


Santander has started to report to the bureau's again, which is great.  However, I am TIRED of paying the interest rate that I am!  So I am looking to refi this puppy with another company.  Only problem is- I haven't a CLUE which companies will touch a refi following BK!  Google research led me to 1) Santander and 2) Roadloans.  These are the same company and I am currently financed with Santander, so that doesn't help me in the least.


Anyone have suggestions on who to apply to in order to obtain an auto refi following Ch7 BK?  I could really use some "been there, done that" advice as I really can't afford a bunch of credit rejections.  Help?!?

Starting Score: UNKNOWN
Current Score: UNKNOWN
Goal Score: 700

Take the FICO Fitness Challenge
Message 1 of 2
New Visitor

Re: Auto Refi following Ch 7 BK

Try wells fargo bank.  My situation wasn't quite like yours, but my BK discharged Feb 12.  I just went to carmax and got financed by Wells Fargo for $27,700 at 8.79%, so you may want to try wells fargo.  Santander offered 15.5%, so naturally I took the wells offer.  Wells is pretty good on subprime loans.

Message 2 of 2