Bankruptcy length-interest rate negotiation?
Date: Sun, 11/01/2009 - 05:58
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?
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?
Are you going thru dealership financing or are you attempting to
Are you going thru dealership financing or are you attempting to get financing yourself by going into a bank or credit union?
There are dealerships out there that can get you a better intere
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.