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if you filed bankruptcy were you able to get a loan afterwards and where did you go?

I was wondering because my Bk just discharged and I lost my car in the bk and I have no way to get around and I really need away with grocery shopping, doctors appointments, work... Please any info helps! I need to find a loan asap cause I really can't go without a car any longer.

 
Anonymous

Asked by Anonymous at 10:27 PM on Sep. 16, 2010 in Money & Work

This question is closed.
Answers (9)
  • I would try as other suggest and arrange for rides or do public transport if available. In the meantime start building your credit back up so in a year you can get a better deal though a bank. Becareful many like to take advantage of others at low points in thier lives and what may seem to be a great deal may turn into a headache. Read any contract you sign carefully and watch to make sure no prepayment penalties and that you can live with all the terms of the agreement esp if your circumstances change.
    steveiguana

    Answer by steveiguana at 8:06 AM on Sep. 17, 2010

  • Yes you can, but your interest rate will be through the roof. There are car places that make a killing off bad credit but they know you are in a spot so you will take it. Go to places where they say bad credit okay.
    Musicmom80

    Answer by Musicmom80 at 10:46 PM on Sep. 16, 2010

  • I don't know of any banks that would give a loan to a person who just had a bankruptcy. Any decent bank, anyway, that wouldn't charge outrageous interest. Don't put yourself in another bad situation. Instead of getting a loan, you need to car pool, ask friends for rides, etc., save your money and buy an inexpensive car with cash until you get back on your feet. Then, buy a more reliable car when you're ready.
    HeatheranninSP

    Answer by HeatheranninSP at 10:34 PM on Sep. 16, 2010

  • musicmom08

    Answer by musicmom08 at 10:38 PM on Sep. 16, 2010

  • The highest rate I have seen though the banks is 19% I. If I get a loan I plan to pay it off early with my taxes and I am not lookings for an expensive car I am looking for reliable and cheap 5000.00 I can also refiance after a year through a credit union so I am not worried about that and if I pay it off early that interest that the calculate wouldn't matter since it would be paid off before term. . I just need a way to get around and take my children to the doctors office and to get to work if there is an emergency and i need to take my children to the doctor I don't want to wait for a ride I want to be able to grab them and go get the care they needd
    Anonymous

    Comment by Anonymous (original poster) at 10:55 PM on Sep. 16, 2010

  • I bought a car with bad credit and the sale price was 4700, after interest, tax, title, and licensing, I paid $8000, if that gives you and idea.
    Musicmom80

    Answer by Musicmom80 at 11:27 PM on Sep. 16, 2010

  • It can't hurt to get out there and try...GL
    KARRIEMARIE

    Answer by KARRIEMARIE at 11:28 PM on Sep. 16, 2010

  • Musicmom80- You got ripped off, I have done enough research on the loan I need and the price/payment range I need to stay at.. Most I am not going back into debt that is why it will be paid off with taxes. and if you pay off your loan before your term your not paying that interest which is another reason why I want to get a cheap car so that I can pay it off.
    Anonymous

    Comment by Anonymous (original poster) at 11:35 PM on Sep. 16, 2010

  • The rate was 19%. And no, I didn't get ripped off. I knew exactly what I was getting into and researched and shopped plenty before buying. I needed a car and that's what I was able to do. I did pay it off. Did you go to a dealership and have them write you up a purchase agreement? Because that's reallly the last word no matter how much you look into it. If you have it all figured out, why are you even asking this question?
    Musicmom80

    Answer by Musicmom80 at 11:44 PM on Sep. 16, 2010

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