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Refinancing car after 7 bankruptcy

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Regular Contributor

Refinancing car after 7 bankruptcy

So we let our car go and bought a new one in bankruptcy.
It sits at a "lovely" 10 percent.
How many months do bn i have to wait to refinance?

Anyone recently done one with NFCU? We discharged dec and got the car dec but first payment we paid end of jan (but we paid early so it's actually feb on credit reports)

Any other places to try refilling? I'm assuming capital 1 wont just offer us a better rate themselves (lthough it would be nice!!)
Chap 7 discharged 12/2018
Car loan 12/2018 Refinanced 2/19
Capital one QS 2250
10/2019 Capital on platinum 3k
1/2019
NFCU Nrewards 6k 2/2019

CURRENT FICO9 Equifax 725

Hubby is on same car loan and Chap 7
Capital 1 platinum 2250 1/2019
NFCU Nrewards 6k
9/2019 Discover it 2100
5/2020

CURRENT FICO8 685
I pay all cards in full every month other than 1
Message 1 of 8
7 REPLIES 7
Highlighted
Regular Contributor

Re: Refinancing car after 7 bankruptcy

Anyone?
Just pulled one of our FICO 8s and hubby sits at 640 and I'm at 670
He is the only one with income though Smiley Happy we discharged 12/18
Chap 7 discharged 12/2018
Car loan 12/2018 Refinanced 2/19
Capital one QS 2250
10/2019 Capital on platinum 3k
1/2019
NFCU Nrewards 6k 2/2019

CURRENT FICO9 Equifax 725

Hubby is on same car loan and Chap 7
Capital 1 platinum 2250 1/2019
NFCU Nrewards 6k
9/2019 Discover it 2100
5/2020

CURRENT FICO8 685
I pay all cards in full every month other than 1
Message 2 of 8
Highlighted
Contributor

Re: Refinancing car after 7 bankruptcy

I was just coming on to ask the same question!  I discharged in Dec 18, got my new auto prior to discharge, and made first payment in November of 2018.  I'm at 14%, no lates on new auto (actually no lates on old one as well, but that's in the 7).  Would love to refi!  Have tried a few places but they are saying no due to the 7.

Message 3 of 8
Highlighted
Regular Contributor

Re: Refinancing car after 7 bankruptcy

Any luck?
Chap 7 discharged 12/2018
Car loan 12/2018 Refinanced 2/19
Capital one QS 2250
10/2019 Capital on platinum 3k
1/2019
NFCU Nrewards 6k 2/2019

CURRENT FICO9 Equifax 725

Hubby is on same car loan and Chap 7
Capital 1 platinum 2250 1/2019
NFCU Nrewards 6k
9/2019 Discover it 2100
5/2020

CURRENT FICO8 685
I pay all cards in full every month other than 1
Message 4 of 8
Highlighted
Senior Contributor

Re: Refinancing car after 7 bankruptcy

Try Capital One Auto, it's a soft pull and will give you an idea what you're looking at for rates.


Message 5 of 8
Highlighted
Regular Contributor

Re: Refinancing car after 7 bankruptcy

That's who we have already and they wont refinance against themselves
Chap 7 discharged 12/2018
Car loan 12/2018 Refinanced 2/19
Capital one QS 2250
10/2019 Capital on platinum 3k
1/2019
NFCU Nrewards 6k 2/2019

CURRENT FICO9 Equifax 725

Hubby is on same car loan and Chap 7
Capital 1 platinum 2250 1/2019
NFCU Nrewards 6k
9/2019 Discover it 2100
5/2020

CURRENT FICO8 685
I pay all cards in full every month other than 1
Message 6 of 8
Highlighted
Senior Contributor

Re: Refinancing car after 7 bankruptcy

Ah sorry, I missed that in your first post. Nope, no one will refi their own loan. Are you already members at Navy Fed? They have a pretty good reputation with those rebuilding their credit. Also you might try DCU, Digital Credit Union. Your 670 score may be good enough for a joint app with your husband's income for meeting DTI. You can app for a loan without being a member, you just have to join if approved.  My car loan is with DCU but I'm 9 years post discharge and score around 730. (Yea! 1 more year 'till that *bleep* BK is off my report)

 


Message 7 of 8
Highlighted
Regular Contributor

Re: Refinancing car after 7 bankruptcy

Whoops your comment made r
Me realize I posted wrong! Hubby sits there. Mine is just a few points over 700. It's the better of the 2 scores, but hubby has all the income
Chap 7 discharged 12/2018
Car loan 12/2018 Refinanced 2/19
Capital one QS 2250
10/2019 Capital on platinum 3k
1/2019
NFCU Nrewards 6k 2/2019

CURRENT FICO9 Equifax 725

Hubby is on same car loan and Chap 7
Capital 1 platinum 2250 1/2019
NFCU Nrewards 6k
9/2019 Discover it 2100
5/2020

CURRENT FICO8 685
I pay all cards in full every month other than 1
Message 8 of 8
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