722 redemption: Know more about this company and their contact info

if we use 722 loan, is there a penalty for early payoff?

From everything that I have read about 722, I would stay away from them. I have heard of them having people sign a note on a car unseen, and it is not what they wanted. They do not seem to be too reputable.

I have been pre-approve through 722, but I was wondering for those of you, who have their cars....how did the mileage and the year play apart in your monthly payment...can anyone share what their experience has been like.....I have not picked out a car yet and kinda unsure what I'd like to purchase.....Thank you.

The BBB report now shows only one complant but also points out they've only been listed since 1/2009. Seems kinda suspicious to me, seeing in one of their mailings that they claim to be in business for 12 years. --SJR

I'm so glad i GOOGLED them. I was already to sign up, but now I guess I'll hope my attorney can work out a great reaffirmation agreement with my finance company.

we purchased a suzuki grand vitara on tuesday (3 days ago) and I received a call today which is thrusday that I must return the car because this 722 redemption does not give auto loans for vehicles that are made by chysler, dodge, kia, and suzuki. Is the dealer pulling my leg or is this true.

THEY REDUCED MY PAYMENT BY 300 DOLLARS .. AND MY BALANCE WENT FROM 25,000 TO 9,000... dO IT .. ITS WORTH THE TRY.

Hello, US bank is a well known bank...722 redemption is tied up with US Bank.

722 redemption can help out some people who are way upside down on their vehicle. You can generally apply prior to filing your bankruptcy case and determine if the 722 redemption loan is something that is going to benefit you or not. Here is a good resource that explains how 722 redemption for people who are considering trying to get a loan: 722 redemption

I am a used auto dealer in Aurora, Illinois and we have been working a 722 Program for the past 9 year at least. In my experience like with any other lender part of the problem can be the dealer and their understanding of the program (ie. qualification of vehicles, mileages, book values, debt to income ratio, and other qualifiers). If you go through the program you must be sure to get all your questions answered and feel comfortable with whom you are dealing with. 722 Redemption and US Bank are both large companies and as such there will be very happy and unhappy customers, but overall I think is a very good option for someone looking to obtain a newer vehicle with low miles to restart their credit. And while buying a car cash is a great option most of us will need to re-establish credit after going through BK. I hope this will give you the perspective of the dealer on this whole rather complex financial situation. To sum it all up find a good dealer/program/bank to fit your needs and ask all necessary questions. A well informed dealer should be able to answer all your questions and make you feel comfortable with your decision.

I was duped!! my auto dealer told me the 722 (thru US bank) would refi me in 12 months if I made all my payments on time. I did. I called US bank last night "they won't refi me b/c I don't live in a state with US Bank in it...." that's just crazy to me. I'm waiting for a senior financial rep at US bank to contact me. I've told them I was put into the program under false pretenses and would not be willing to keep the crappy little car fro Jack Sweeney Smart Mart (In ohio or something like that) for 3 years!! I was duped!!!!!!!!!!!! I emailed the salesman at JaKe Sweeney (Morgan) and guess what? yep...no reply.

i talked to 722 redemption, they basically said there was nothing they could do to help me out on my current loan, but they can get me into a new vehicle with low miles and all i have to pay is tax and registration. we decided to just reafirm with our current company, even though our current apr is 16, it sure beats 24. and our car will be paid off in 2 years, versus restarting with another 5 year loan. especially at an even higher intrest rate. it just doesnt make sense to "start over" by getting tied up in an extremely high intrest car loan before my bankruptcy even discharges. i understand if they were able to refi our current loan, lower our monthly payments and principle balance it would totally be worth it. but after going over everything with a fine tooth comb it just doesnt make sense to get a new high intrest loan with them.

Great! Where were you in the Bankruptcy proceedings?

Okay..I have retained a lawyer..I'm going to file a Chpt 7 some time next month. I have a 96' Nissan Maxima with 200,000 + miles on it, this is a junk car. I had to purchase it "last minute" before I lost my job...I had two auto loans where both cars were repo'd recently...(I wish I had filed then...I would have the cars, but you can't cry over spilled milk) so I had to use a "side of the road, in house financing dealership"...when I went to see my lawyer he said I should be able to get out of the loan and keep my car. I currently owe about $4500 (many a little more) on the car...I pay $125 every two weeks...the payment schedule is until March 2012. CRAZY RIGHT??? He told me to contact 722 redemption and when I did, they said they only do the program for people who has a 04' car and newer??? I called the lawyer office back and the paralagel left a message for my attorney to return my call...so I'm waiting...

So my question to anyone who is reading this is...what are my other options???

I need the vehicle to get back and forth from work and school...

Can I purchase another vehicle??? Do 722 give out new auto loans for people in the proces of filing bankruptcy??? I really need to have a more reliable vehicle...so I will return this car to the dealership I got it from...only if I can have another "lined up"...

Thanks in advance...

As Oregon allows an exemption of $3,000 on vehicles, if you file Chapter 7, there is a high chance that the trustee will sell off the vehicle to pay off your creditors. However, he will return the exempted amount to you after the vehicle is sold off. Now, it will be completely your discretion whether or not you will go ahead with the bankruptcy filing. If you have too much of unsecured debts, then Chapter 7 will help you in getting rid of those debts and you will be able to start afresh.

That information is incorrect. It does not matter what the make of the vehicle is. Wonder if you got hooked up with an imposter???