munchkin130
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Sub: #1 Bankruptcy length-interest rate negotiation?
Replied on 11-01-2009, 05:58 AM
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Maybe this is a stupid question.....
If your bankruptcy is due to come off your credit report in a year, will creditors take that into consideration & give you a slightly better interest rate than those who have a more recent bankruptcy?
Mine is due to come off in 2010, but despite on time cc payments post bankruptcy & I'm still quoted 18% interest on a car loan. Am I doomed to continue paying for my mistake until the bankruptcy is officially off the record or is it possible to negotiate considering my cc payments & the fact that the bankruptcy is due to come off in a year?




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Sub: #2
Replied on 11-01-2009, 05:59 AM
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Are you going thru dealership financing or are you attempting to get financing yourself by going into a bank or credit union?

munchkin130
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Sub: #3
Replied on 11-01-2009, 08:13 AM
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Dealership

xy&z
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Sub: #4
Replied on 12-31-2009, 01:59 PM
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There are dealerships out there that can get you a better interest rate, we filed Chapter 7 bk in 2002, we have bought several cars since, the last one we got 6% interest on, the one before that we also got 6% on. The first one we bought after bk, we went through our local bank, since they knew us and would work with us, we paid a little higher interest I think it was around 10%. So it can be done.




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