Bankruptcy and bad credit can make you think your
Printed From: PHAworkers Online
Category: General
Forum Name: Rumor Mill
Forum Discription: Discuss/Debunk what you've heard somewhere.
URL: http://www.phaworkers.org/forum//forum_posts.asp?TID=69466
Printed Date: Jan 19 2026 at 3:47am
Software Version: Web Wiz Forums 8.03 - http://www.webwizforums.com
Topic: Bankruptcy and bad credit can make you think your
Posted By: yi4750oq
Subject: Bankruptcy and bad credit can make you think your
Date Posted: Apr 29 2013 at 4:37am
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, http://bottegaveneta-outlets.webs.com/ - Bottega Veneta .
First, http://celinebagss.webs.com/ - Celine Bags , get a copy of your credit report.
This is a crucial step as your credit report may and probably will contain some erroneous and derogatory information, http://truereligiononsale.webs.com/ - True Religion On Sale . It is a known fact that over 90 percent of credit reports contain some sort of error or incorrect information. This can range from wrong contact or loan info to derogatory debt info that should be removed as it is older than 7 years.
The rule is that most derogatory credit and debt reporting can only stay on your credit report for 7 years (a bankruptcy is 10 years). Many collection companies and other creditors abuse this law by relisting bad credit with different loan numbers and such. This is actually illegal and a violation of the Fair Debt Reporting Act. If you find any fraudulent reporting like this hire an attorney and sue the violating company.
Basically, anything that does not belong on your credit file can be investigated by inquiring with the credit bureaus (Trans Union, Equifax and Experian). When an inquiry is opened, they must contact the original creditor and receive proof that the debt is valid. If they do not receive proof within 30 days the disputed information must be removed. The credit bureau in question will then send you a free, corrected credit file. Note, this dispute process is not to be abused for knowingly valid debts.
By correcting the data in your credit report you can only improve your credit rating, http://truereligiononsale.webs.com/ - Cheap True Religion . You are also entitled to add a small entry to explain any valid derogatory entry. For instance if it was caused by a unexpected illness, automotive accident by an un-insured motorist or something that was not your fault. Creditors may take this info into account and give you a better rate or terms or extend credit where they normally would not.
Make friends with the special finance manager at your local car dealership that handles bad credit.
This can only help as many times a loan is made or determined on the finance managers personal opinions. They can put in a good word for you or a personal favor or recommendation. Especially if they are at a large dealership and they do a lot of loans. They may be able to throw it in with a package of loans and get you approved or get you a better rate. Do not discount this, I have personally seen this happen.
The special finance manager will also determine how much money you can put down and what payments you can afford. If you are friends with them you will most likely get a much better deal, car and payments, http://celinebagss.webs.com/ - Celine Handbags .
Look online before you sign the dotted line.
There are numerous online finance companies and websites that may give you better terms and or rate, but you will never know if you do not check. Just look up the keywords bad credit car loan on Google or Yahoo and you will find plenty of them. Find a few and see what kinds of offers or terms you will get. Do not be surprised if you are approved, but for a newer car. Many finance companies will not do loans on cars older than 5 or 7 years or with prices below $5,000.
Buy here pay here.
If you wish to buy a car older than the range most companies will finance, under $5,000, or your credit will not let you buy at a normal dealership (very rare), then there is one last resort the BHPH (Buy Here Pay Here dealer). These car dealers finance the car themselves and will usually expect weekly payments. Do not expect your car loan with them to be reported on your credit report so it will probably not help your credit. If you miss a payment, they will tow off or repo your car.
Then you will have to pay extra repo fees and all payments to get you up to date to get the vehicle back. BHPH is kind of like legalized loan sharking, but for some it is an acceptable or only alternative to riding the bus or walking. Expect high interest rates (whatever the state maximum is) and weekly payments of between $50 and $100 with a sizeable down payment (usually around $2,000 or so depending on the year and price of the car being loaned).
Now, once you have a car loan, do not mess up and miss or make late payments. Your goal is to correct the mistakes of your past and build good credit. If you keep making on time payments and continue to build your credit, with 1 to 2 years you will improve your credit and may even be able to do things like purchase a house or condo and qualify for better rates and terms.
Related articles:
- http://hechezhong.cn/xxgk/review.asp?NewsID=167 - http://hechezhong.cn/xxgk/review.asp?NewsID=167
- http://www.aberdarevalleysnookerleague.co.uk/forum/forum_posts.asp?TID=449151&PID=511756#511756 - http://www.aberdarevalleysnookerleague.co.uk/forum/forum_posts.asp?TID=449151&PID=511756#511756
|
Replies:
Posted By: kinruwoek
Date Posted: Apr 30 2013 at 12:52am
Suddenly, http://www.osgoodesnowmobileclub.ca/michael-kors.html - michael kors handbags , on behalf of jade carrying chopped soul sword, http://highbankscamping.com/OakleyJawbone.html - oakley outlet , ah sound, slate hacking. See blood prince slate issued a Road yellow light, despite this, the slate is no fracture traces. Master all right, take it, go to your family, wing day take over the map, the tears could not flow out, looking at the master's body shaking, Master, how your body, you do not tell me, I so been kneeling wing of the days suddenly kneeling in front of the old man. Hi, this is the point? The old man said sadly.
words finished, it is transferred to the first faint smile looking at Dai-chi silk Dai-chi silk feel the Road sight skinned red, http://www.upproject.org/up_project/chrome-hearts-sale.html - Chrome Hearts , in fact, come to this man in brown, raised, merely her purpose just wanted to tell square residual cry intends to leave for the bright Holy See, but not said could Qinuosiming, only by her misunderstanding. The square residual along Qi Nasi line of sight look Dai-chi wire, see the Dai-chi silk, http://www.modernbeauty.ca/h2p/defau.php - oakley outlet , slightly embarrassed face, smiled, opening said: What do you do? Dai-chi silk distress nodded, but Nalan Flow and Qi Nasi around and not directly asks the only awkward pestle in place, do not know how the opening.
There Xiaoyun Yan four Gorefiend and a large group of shadow magic also formed a strangely the matrix method entangled six wearing enemy flying infantry armor. Only barely wrapped, there is not a level of fighting. Crab have to admit that acting is simply superb, and really feel like. Will not firm thought he really never met Lee widow how how to do.
Along the way are the source of stone family camp, http://brainysoftware.com/index1.html - http://brainysoftware.com/index1.html , several accompanying source stone tribe RBI is proper, so the high trial two, down quite a bit to play nice. Here is the hinterland of the Xiling Gobi, the source stone tribe along the way encountered more and more be seen everywhere in the huge stone pillars towering, spectacular in the vast expanse of the Gobi.
Your kid finally come ah. Wang Cai walked carelessly the Li Xiang him patted him on the shoulder and said, This command of the task, but to you, we are brothers, they pointed to the meat soup with you. He had never loved me! Why? I took him unwilling to let go. There is no why I never said I love you.
Far from a hoarse voice sounded lukewarm. This sound is sent to Cao Yueming adoptive expect Caoyue Ming Yan Zhu. Tonight the moon is very uncertain, and a crescent moon hanging in the dark blue sky, surrounded by a starry ... Xiao Han brother and usually not the same! Freezing rain can feel cold not of Yexiao normal, of course, we all felt.
|
|