Buy a car while enrolled in a debt settlement program

Yes, it is possible to buy a car while you are in debt settlement. However, it is probably not the wisest idea to go into something that requires monthly payments, unless you are certain you can afford it while keeping up on your debt settlement payments. You may also have a hard time obtaining a loan (or at least a low interest one) if your credit is not in good shape.

Is it possible that you could purchase a car for less than $3,000, just to get you through this rough patch? If you are receiving a tax refund this year, that might be one way to solve the problem. The car won't be new, probably won't be anyting fancy, but it will get you from point A to point B until you can do something better.

And I would imagine the interest rate you would be paying would be out the roof. If you can, I would wait.

It's not a good idea to apply for anyhting while in debt management. The reason is because your creditors report that you are in a financial counseling program. While it is good that you are taking care of your responsibility creditors don't like to lend out money to someone who they might think is going to be a high risk. They will lend it but the interest will be almost as high as it can be. It's best to wait until your obligations are finished then beging to rebuild.

shankbuilders buy used. Buy something for like 2K until you get better financially. Thats what I did. :)

yep..that's what I did!! I bought a good, used vehive ( Jeep Cherokee) for $1500.00. I love it..it's wonderful!!

You can even get a car for $1000. Yes, its gonna be a beat-up Buick but at one point who the hell cares... better then freezing while waiting for the bus