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How To Get Approved For A Car Loan After Bankruptcy Or With Bad Credit

Bankruptcy and bad credit can make you think your ability to get a car loan will be an impossible task. But it does not have to be. Also, any new loans including a car loan will help you to build and reestablish your credit and credit history.

Most finance companies will not deal with you if you are in the middle of bankruptcy, but they will when it is finalized as you can then legally take on debt and reestablish yourself. Bad credit should not mean no credit. You can still get a good car loan and even a reasonable or good rate and payment. Here are some excellent tips and pointers to help you get the best car loan and terms possible regardless of your credit history.

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Is it better to use a debt consolidation service or contact creditors directly?

I owe on 3 credit cards. One is starting to fall behind on the payments as its too much to pay. Which route is the way to go? Debt consolidation or contacting creditors & explaining that I was living beyond my means & now I am having trouble paying.

On the one card I’m having trouble with (Chase), my monthly balance is $299 but I can afford to pay $180 a month to them. I’ve heard horror stories where people get the WORST treatment when they try to set up payment plans with credit card companies. Do most companies decline an offer of a payment arrangement? I can get back to more payments in January or February but now is hard.

Is debt consolidation a good move?

All of my creditors are increasing my APR and lowering the credit line. So, I was thinking of consolidating my debts into one account to deal with them. But, is consolidating your debts a good move?

Can a creditor “attach” your life insurance policy to an outstanding debt if you die before it’s paid off ?

I recently consolidated my debt, and was asked repeatedly about my life insurance. Naturally, I’m curious as to whether my creditors can collect on my benefit payoff if I should die before the debt is repaid.

Debt consolidation?

I have about $6,500 worth of debt, my income after taxes is about 21,000 a year. Most of my creditors have closed my accounts (all of my credit is maxed out). I recently got my FICO score and it is 529 (very, very poor). I have called some companies that specalize in debt consolidation and I have been told that I do not have “enough debt”. I talked to a professional about bankruptcy and was advised against filing because I do not have “enough debt”. I am a renter, and do not have any assets that could be held for collateral. With my credit score being the way it is, and closed accounts on my credit record… what are my options?

I went with a debt consolidation company and still received a summons from a creditors. WHY?

The creditors were all given letters saying to work with this firm and I’m paying them monthly to work toward my debt. But I received this summons anyways. Can they still garnish my wages over and above what I am paying the consolidation company? I have no wiggle room in my budget.

I was wondering if debt consolidation is still an option after charging off with my creditors?

I believe my accounts are now w 3rd party and law offices. It has been a year since i have been able to make payments. I am considering bankruptcy, but want to check out other possibilities.

Does anyone know of a reputable debt consolidation company?

I’m a single parent, my misc. debt is keeping me living week to week… barely. I’m wondering about the companies that will work out a payment plan with creditors. I’m willing to close all my credit accounts. At this point my credit is only about 620.

Re-Building Credit? Debt Consolidation?

Here’s the situation:
Last June (2006) my Husband and I went to our Lawyer and said we wanted to file bankruptcy. We started the process then (June 2006), and the lawyer told us to stop paying ALL of the things we were filing on…so we did. It has been a year now, and we had run into a few problems along the way and our case is STILL NOT filed with the courts. It is to be filed this month.

My Husband has gotten a better job and now we want to do a debt consolidation INSTEAD of filing for the bankruptcy.

My Questions:
1. Can we still do a debt consolidation after not making any payments to the creditors for a year?
2. How long after the consolidation will it take for our credit scores to go up?
3. How long after the consolidation should it take to get approved for a mortgage?

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Will debt consolidation hurt my credit?

With business so slow due to the economy I am seriously considering using a debt consolidation company if my creditors can not reduce my monthly payments. Will this hurt my credit and how badly? Also, could anyone recommend the best consolidation company out there and any tips you might have? Thanks…

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