Auto Loans, bankruptcy auto loans.#Bankruptcy #auto #loans


Auto Loans Made Easy for Any Credit Situation

Since 1998 our lender network has helped millions of customers get new and used car loans with custom tailored financing.

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How We Can Help You

We understand that good people can experience credit challenges.

We are ready to help with easy auto financing options for any credit situation.

Bad Credit

Bankruptcy auto loans

If your FICO credit score is under 640 it can be very difficult, or even impossible, to obtain an auto loan through a traditional lender such as a bank or car manufacturer. Our national network of dealers use lenders that can get you financed using special plans tailored to your financial needs, saving you money and frustration. Get Started

No Credit

Bankruptcy auto loans

We know how difficult it can be to get a car loan with no credit history. In order to build credit history you first need to establish credit, but establishing credit without history is hard. Our national network of dealers use lenders that understand this. They will customize a car loan for you, and you will be on your way in your new car while starting to build a strong credit report. Get Started

Bankruptcy

Bankruptcy auto loans

A bankruptcy in your past shouldn’t mean you can’t get a car loan. We understand that people need a second chance, and our national network of dealers use lenders that believe that too. They will structure a loan with terms that will allow you to stop worrying about your bankruptcy and start rebuilding your financial future. Get Started

How It Works

Submit in as little as 60 seconds.

1. Submit Your Form

Submit online using our easy loan request form, there is no obligation.

2. Review Your Financing Options

Our dealer partner will get back to you within 24 hours to discuss your customized financing options.

3. Find The Car That’s Right For You

Our partners carry a wide selection of new & used vehicles that will meet any car-buyer’s needs.

4. Drive Away Happy

Drive off in your new car knowing that your past didn’t dictate your future, and that you are on your way to rebuilding your credit.


Car Loans for Bad Credit, Get Approved today even with bad credit, bankruptcy auto loans.#Bankruptcy #auto #loans


One of the most common questions we receive about car loans for bad credit is:

Is it actually possible to get an auto loan for bad credit, even a very bad score, or maybe even no credit at all? If so, what s the catch? Thousands of people looking for car loans for bad credit purchase vehicles every day, so it s definitely possible! The reasons are pretty simple:

In a down economy, where more and more people are experiencing credit challenges (bad credit), banks must become less strict in their lending requirements in order to continue business. A auto loan for bad credit may not have the same interest rate as a car loan on great credit, but banks and dealerships have had to become more competitive because the number of individuals with “perfect credit” is dropping year after year.

This means that your car is collateral, and banks are much more willing to finance an auto loan for bad credit because of this. While they won’t admit it, banks realize that a bad credit score doesn’t mean you won’t pay your bills. In some cases, an individual who has recently filed bankruptcy is in a better position financially to make their payment than someone who has a higher credit score! They also know that a car loan is also a great way to improve your credit. If you have a good payment history, a bank will want to maintain your business, hopefully giving you more loan opportunities in the future because of your good history.

In a new car franchise, it is sometimes more important to sell a car than it is to make a huge profit on that car. Car manufacturers pay dealers incentives based on the number of cars they sell, not what they sell them for. The more cars sold, the larger the incentives become. Some dealers are willing to sell the car at cost, or even below cost, which makes financing the car much easier. Some dealers will even finance the car in-house, giving people looking for car loans for bad credit or people with severe credit problems loan opportunities that they wouldn’t have any where else.

That s why when we say we can help you get a car loan regardless of your bad credit problems, we mean it!

We have been in car loans for bad credit business since 1989 (online since 99), and we understand how the system works, and how it has changed over the years. Our application process is designed to give you the a chance to evaluate your best options (we specialize in helping obtain car loans for bad credit scores). It only takes a few minutes to apply online, and leave the rest to us!

We can t wait to help satisfy your auto financing needs!

Not a Problem, We Have Solutions!

Bankruptcy can be a difficult process to go through, finding financing for an auto loan after experiencing Chapter 11 or Chapter 13 should not be.

We specialize in helping individuals with poor, bad, no credit, and bankruptcy get approved for auto/car financing. Apply Today!

Bankruptcy auto loans

Bankruptcy auto loans

Bankruptcy auto loans

Loved Our Experience!

Awesome!

Thank You So Much!

Demystify Financing!

Some of the terms in the car loans for bad credit business, or that are used to describe auto loans for bad credit financing can sometimes seem a little strange. We ve compiled a few lists to help take some of the mystery out the vehicle lending process.

Work with the Best!

AutoApproved was formed by a family that has been helping people obtain car loans for bad financing since 1989. We are the best when it comes to matching you with the most competitive finance terms, regardless of your past credit history.

We’ve Got You Covered!

Our bad credit car loan application is designed especially for auto, car and truck buyers with credit problems, no credit, or unique sub prime auto loan requirements. We also are continually developing articles to help understand auto loans and financing.

We can help you find car loans for bad credit – no problem!

The Place for Auto Loans for Bad Credit

What we do is very simple, we help individuals and families who are buying a vehicle (car, truck, van, etc.) who have poor or bad credit scores get approved for auto loans. The process is simple: we gather information about the car buyer in order to pair that individual with a car dealer who has the available resources to get them approved for sub-prime auto financing, sometimes with as little as $0 down. AutoApproved.com is working for car buyer by using our extensive network of relationships to help connect you with the right car dealership to help provide you with the best car loans for bad credit options.

Bad credit. Poor credit. No credit. No matter what your your credit history looks like, we can find the right solution for your automobile lending needs. We have trained lending professionals working to help meet your financing requirements and partner you with the best lending auto solution.

*The information you provide is for the purpose of arranging vehicle financing, it is not used without your knowledge for other purposes. See our privacy policy for more information.


Car Loans for Bad Credit, Get Approved today even with bad credit, bankruptcy auto loans.#Bankruptcy #auto #loans


One of the most common questions we receive about car loans for bad credit is:

Is it actually possible to get an auto loan for bad credit, even a very bad score, or maybe even no credit at all? If so, what s the catch? Thousands of people looking for car loans for bad credit purchase vehicles every day, so it s definitely possible! The reasons are pretty simple:

In a down economy, where more and more people are experiencing credit challenges (bad credit), banks must become less strict in their lending requirements in order to continue business. A auto loan for bad credit may not have the same interest rate as a car loan on great credit, but banks and dealerships have had to become more competitive because the number of individuals with “perfect credit” is dropping year after year.

This means that your car is collateral, and banks are much more willing to finance an auto loan for bad credit because of this. While they won’t admit it, banks realize that a bad credit score doesn’t mean you won’t pay your bills. In some cases, an individual who has recently filed bankruptcy is in a better position financially to make their payment than someone who has a higher credit score! They also know that a car loan is also a great way to improve your credit. If you have a good payment history, a bank will want to maintain your business, hopefully giving you more loan opportunities in the future because of your good history.

In a new car franchise, it is sometimes more important to sell a car than it is to make a huge profit on that car. Car manufacturers pay dealers incentives based on the number of cars they sell, not what they sell them for. The more cars sold, the larger the incentives become. Some dealers are willing to sell the car at cost, or even below cost, which makes financing the car much easier. Some dealers will even finance the car in-house, giving people looking for car loans for bad credit or people with severe credit problems loan opportunities that they wouldn’t have any where else.

That s why when we say we can help you get a car loan regardless of your bad credit problems, we mean it!

We have been in car loans for bad credit business since 1989 (online since 99), and we understand how the system works, and how it has changed over the years. Our application process is designed to give you the a chance to evaluate your best options (we specialize in helping obtain car loans for bad credit scores). It only takes a few minutes to apply online, and leave the rest to us!

We can t wait to help satisfy your auto financing needs!

Not a Problem, We Have Solutions!

Bankruptcy can be a difficult process to go through, finding financing for an auto loan after experiencing Chapter 11 or Chapter 13 should not be.

We specialize in helping individuals with poor, bad, no credit, and bankruptcy get approved for auto/car financing. Apply Today!

Bankruptcy auto loans

Bankruptcy auto loans

Bankruptcy auto loans

Loved Our Experience!

Awesome!

Thank You So Much!

Demystify Financing!

Some of the terms in the car loans for bad credit business, or that are used to describe auto loans for bad credit financing can sometimes seem a little strange. We ve compiled a few lists to help take some of the mystery out the vehicle lending process.

Work with the Best!

AutoApproved was formed by a family that has been helping people obtain car loans for bad financing since 1989. We are the best when it comes to matching you with the most competitive finance terms, regardless of your past credit history.

We’ve Got You Covered!

Our bad credit car loan application is designed especially for auto, car and truck buyers with credit problems, no credit, or unique sub prime auto loan requirements. We also are continually developing articles to help understand auto loans and financing.

We can help you find car loans for bad credit – no problem!

The Place for Auto Loans for Bad Credit

What we do is very simple, we help individuals and families who are buying a vehicle (car, truck, van, etc.) who have poor or bad credit scores get approved for auto loans. The process is simple: we gather information about the car buyer in order to pair that individual with a car dealer who has the available resources to get them approved for sub-prime auto financing, sometimes with as little as $0 down. AutoApproved.com is working for car buyer by using our extensive network of relationships to help connect you with the right car dealership to help provide you with the best car loans for bad credit options.

Bad credit. Poor credit. No credit. No matter what your your credit history looks like, we can find the right solution for your automobile lending needs. We have trained lending professionals working to help meet your financing requirements and partner you with the best lending auto solution.

*The information you provide is for the purpose of arranging vehicle financing, it is not used without your knowledge for other purposes. See our privacy policy for more information.


Student Auto Loans – Auto Loans for Students, bankruptcy auto loans.#Bankruptcy #auto #loans


bankruptcy auto loans

Bankruptcy auto loans

Bankruptcy auto loans

Bankruptcy auto loans

Auto Loans for Students

Tired of riding the bus? Sick of walking in the cold, rain and/or snow to class? Perhaps you just got a new job and need transportation to and from work. If you are a student looking for an easier way to get around, we can help you! We offer several affordable student car loan programs for buying and financing a new vehicle. We will assist you in making sure that your auto purchase experience is a stress free one!

What kind of credit do I need to have in order to get approved for a college student auto loan?

Having no credit is no issue. We can even get students approved for car financing if they have bad credit. In fact, the auto loans we provide are a great means of building credit! Your monthly payments are reported to all three major credit bureaus. A positive payment history will reflect a positive credit history!

What kind of rates are associated with the student car loans you provide?

Premier Auto Financing will work within our lender network to get you with the lowest rate possible for your student car loan. Students with no credit or bad credit are often looked at as a higher risk than a student with good credit. So if you fall into the bad/no credit category, you can expect to have a slightly higher rate. You can learn more about auto loan rates.

Will I need a co-signer when I apply for a student car loan?

The lenders we work with require no co-signers for up to $30,000, even if you have bad credit or no credit. As a student, applying for a loan of more than $15,000 is not practical, nor do we recommend it. However, a co-signer with decent credit can help you obtain a more favorable interest rate for your loan?

Do I have to buy a car from a specific source when I apply for student financing with your company?

The answer is no. You can use the student auto loans your receive for purchasing from a private seller or from a dealer. So, you can literally buy any make or model of new or used car you want!

I have never applied for any type of loan before. Will someone be available to help me with the financing process?

Absolutely! We have trained special finance professionals that are standing by to answer any questions that you may have about the student auto loan process we offer. You can contact us with any questions, comments or concerns at any time of your application process, before and after you submit your financing request.

Premier Auto Financing takes pride in helping first time car buyers achieve their goals. We have assisted thousand of college students get in new cars and on the road!


Cars in Bankruptcy: What Happens To My Car if I File? #sherman #auto #parts


#bankruptcy auto loans
#

Cars in Bankruptcy

Can You Keep Your Car If You File Bankruptcy?

Many people who file for bankruptcy and own a car are allowed to keep it during and after their case, especially if it is used for getting to and from work.

If you are behind on car payments, you may be able to use bankruptcy laws to keep your vehicle in your possession.

Both types of personal bankruptcy address cars, car loans and vehicles you own outright:

  • The automatic stay in bankruptcy is designed to stop repossession. In most cases, this goes into effect right after you officially file for bankruptcy.
  • Chapter 7 bankruptcy exemptions may protect your car from a forced sale.
  • Filing for bankruptcy under a Chapter 13 may allow you to repay your car loan at a more affordable rate so that you don’t lose your car to collectors.

Keep reading or fill out the below form to ask an attorney if a bankruptcy could help you save your car.

What Happens When You File for Bankruptcy?

Get answers to your bankruptcy questions.

Learn how you may be able to use bankruptcy to save your car, home or other assets.

For a free bankruptcy case evaluation with a local bankruptcy lawyer, complete the below free form:

Car Loans Under Chapter 7 Bankruptcy

Chapter 7 bankruptcy is designed to help eliminate unsecured debts such as credit cards debt or medical debt, but may provide protection for secured debts such as cars.

If you own your car outright, and owe no debts on it, then your car may be fully protected from repossession or forced sale due to Chapter 7 exemptions.

One important aspect when filing bankruptcy is whether you have a clear title to your car. If you have pledged your vehicle as security for a debt, or if you are financing or leasing a vehicle, you likely have three options for secured car loans when you file Chapter 7 .

1. Reaffirm: A reaffirmation agreement is a contract between you and the car creditor in which you agree to pay the balance owed on your car note, despite the bankruptcy filing.

You continue to make payments and the creditor promises that, as long as payments are made, they will not repossess or take back the property.

Reaffirmed debts are not discharged and the debt survives the bankruptcy.

If you do not make your car payments after you reaffirm the car loan, the car lender can repossess the car and sue you for the deficiency balance.

After the finance company repossesses the car, they will sell the car at the auto auction. Usually the finance company does not get enough money from the auction to pay off your loan.This shortfall is called a “deficiency” and you would still be legally obligated to pay the creditor the deficiency balance.

As you can see, the decision to reaffirm your car loan is a serious financial matter.

Reaffirmation agreements are strictly voluntary. You are not required by the Bankruptcy Code or other state or federal law to reaffirm your car loan. Before entering into such an agreement, you will want to speak to a bankruptcy attorney to make sure that the reaffirmation is in your best interest.

2. Redeem: In Chapter 7, you have the right to purchase or redeem your car from the creditor by making a lump sum payment equal to the car’s fair market value.

The U.S. Bankruptcy Code provides that you must pay the creditor the replacement retail cost of the car. The balance of the debt will be discharged.

For example, assume you own a car worth $5000.00, but owe the finance company $10,000.00. In this circumstance, you could redeem the vehicle by paying the creditor $5000.00 and the remaining balance will be discharged in your bankruptcy.

A local bankruptcy lawyer can advise you on the benefits of redeeming your financed car and identifying lenders that will provide the funds for your vehicle redemption.

3. Surrender: If you cannot afford the monthly payments on your car loan or if you determine that you owe more than the car is worth, you can unload the car and the debt in your Chapter 7 bankruptcy by surrendering the vehicle to the creditor.

Car Leases in a Chapter 7

If you are leasing your car when you file Chapter 7 bankruptcy, you can choose to either continue making the monthly lease payments or surrender the car back to the creditor.

If you surrender the leased car, any obligation to repay debt will be eliminated in your Chapter 7 bankruptcy case.

Car Loans in a Chapter 13 Reorganization

If you have fallen behind on your car payments, you may be able to file a Chapter 13 bankruptcy to stop the repossession of your vehicle. The amount you have to pay for your car depends upon when you bought your car.

If you own your car outright, and owe no debts on it, then your car should be fully protected in Chapter 13.

910 Claims: If you bought your vehicle within 910 days of filing your bankruptcy case, you must repay the entire car loan.

The good news is that the interest rate you pay on your car loan may be significantly reduced.

For example, if you owed $10,000 on a car loan whose blue book value was only $5000, you would be required to pay the entire $10,000 balance if the car was purchased less than 30 months, or 910 days, of filing. In short, debtors who want to keep their cars must pay the full loan amount rather than “cram down” the debt to the value of the car.

Cram Down: If you bought your car more than 910 days before you file bankruptcy, you will only have to repay an amount equal to the present value of the car.

For example, if you owed $5000 on a car that is worth only $2500, upon filing Chapter 13 you would be required to repay the finance company only $2500 over the three-to-five year term of your Chapter 13 repayment plan.

Car Leases Under Chapter 13 of the U.S. Bankruptcy Code

Your car lease usually cannot be paid through the Chapter 13 bankruptcy repayment plan that you devise with your bankruptcy attorney.

You can “assume” the lease and continue making the monthly payments. You can also “reject” the lease and return the car to the creditor.

The creditor will sell the leased vehicle, apply the sale proceeds to your lease balance and then file a claim in your Chapter 13 bankruptcy case for the lease deficiency.

This deficiency is an unsecured, non-priority claim, which means you will likely only pay that creditor pennies on the dollar.

Speak With a Bankruptcy Attorney About Protecting Your Car Today.

If you have questions about how your car will be affected if you file bankruptcy, talk with one of our sponsoring lawyers.

Fill out the form on this page to talk with a local bankruptcy attorney. Bankruptcy laws can be complex and each person’s financial situation is unique. If you’re worried about losing your vehicle, home or other assets, be sure to get the facts from a legal professional.

Don’t wait until the repo truck comes to you door or the foreclosure notices start piling up. Learn how bankruptcy can stop repossession and foreclosure and is designed to silence creditors!

The above summary of bankruptcy law is by no means all-inclusive and is not intended to serve as legal advice. Laws may have changed since our last update. For the latest information on bankruptcy laws, speak to a local bankruptcy lawyer in your state.


Bankruptcy Auto Financing – Car Loans before, during, and after Bankruptcies #auto #collision #repair


#bankruptcy auto loans
#

Get a Bankruptcy

If you’re going through or have filed for bankruptcy we can help .

Get Financed

The Process of Auto Financing Following Bankruptcy

If you’ve filed for bankruptcy, you might feel like you’ll never get approved for another line of credit again. Fortunately, that is not true. At Auto Credit Express. we have been helping bankrupt clients find bad credit car dealerships in their area to approve them for vehicle financing since 1999. Bankruptcy isn’t the end of the world. It’s a new beginning to financial stability

Open Bankruptcy Auto Loans

After you have filed your bankruptcy papers with the court, your bankruptcy is now considered open. It will remain that way until you receive your discharge papers from the judge. Open bankruptcy auto loans may be made available during this time with both Chapter 7 and Chapter 13 bankruptcies. but with different requirements.

A chapter 7 bankruptcy is open for approximately three to four months making the process a little faster. Before you can apply for an auto loan through any subprime lender, you must make sure that your meeting of creditors has taken place. Legally, this is called the 341 meeting and allows the creditors listed on your BK papers to ask you questions about your debts. Lenders wait for this meeting to be completed before offering financing to debtors because:

  • After this meeting, you can no longer add debts to your bankruptcy petition, and therefore, the new car loan will not be discharged in the bankruptcy process.
  • Should your case be dismissed by your bankruptcy judge for any reason, you are still liable for the balance of the loan.
  • Your creditors have agreed to the terms of the bankruptcy and your debts will be extinguished, lowering your debt to income ratio.

After you have proof of completion, you can then apply for an online pre-approval at Auto Credit Express. Keep in mind, however, that because a Chapter 7 bankruptcy happens so quickly, your loan approval chances will significantly improve if you delay applying until you have your discharge papers.

If you’ve filed for Chapter 13, you have a little more leeway when it comes to car loans during bankruptcy. The process is much longer, lasting three or five years. The court appointed trustee will set up a payment plan based on your income, and you will repay a portion of your debts over the life of the bankruptcy. If you plan to apply for financing of any kind during this time, you must get approval through your trustee.

Compile a list of reasons as to why you need a new vehicle to present to the court. For example:

  • More than one person in the house has a job, so you need two cars.
  • One person works while the other drives kids to school or extra-curricular activities.
  • You have one car that is about to die, and you need a reliable vehicle for the family.

Once you have compiled your list, you must then file it with your trustee. This is called a Motion to Incur Additional Debt. Then you may have to answer questions about the vehicle you want to purchase. There could be stipulations added to the loan terms, including how long the loan is, what your interest rate can be, and what your monthly payment must be. If your motion is accepted, you will receive an Authorization to Incur Additional Debt. Once you are authorized, you can proceed with your purchase.

After Bankruptcy Car Financing

Taking out a new line of credit can be stressful regardless of what your credit score is, but when you have a recent bankruptcy on your report, your anxiety level can skyrocket. You don’t know how long you should wait, if you should wait, or if there is even a chance for an auto loan approval until the it falls off your credit report. We are here to tell you, you don’t have to wait or worry at all.

At Auto Credit Express, we understand that it isn’t always an option for you to wait weeks, months or years after bankruptcy before taking out an auto loan. This is why our network of lenders can offer you auto financing as soon as your discharge papers are in your hand. While most of our bad credit car dealerships offer both new and used vehicles, we highly recommend purchasing a pre-owned car, truck, SUV, or minivan. Late model automobiles generally offer the following benefits:

The used cars offered on our dealers’ lots are not the junky automobiles of yesteryear you may be thinking of. Instead, you will be financing a vehicle that is reliable, runs well and has low mileage.

“I never had anyone work so hard to find the best deal for my situation.” Deborah S. Ovid

Vehicle Options in Bankruptcy

Reaffirmation

If you decide to reaffirm your loan, you are signing a legally enforceable contract to repay the entire loan balance, as if the bankruptcy was not occurring. Both the creditor and debtor must agree on the terms, and usually a lender will not sign this document if you are currently behind on your payments, or have a history of late payments.

Before you make any decisions about keeping your vehicle, you must first gain permission from either the trustee or the judge working on your case. They must see that keeping the debt is not going to create a financial hardship on you or your family.


Cars in Bankruptcy: What Happens To My Car if I File? #auto #shop


#bankruptcy auto loans
#

Cars in Bankruptcy

Can You Keep Your Car If You File Bankruptcy?

Many people who file for bankruptcy and own a car are allowed to keep it during and after their case, especially if it is used for getting to and from work.

If you are behind on car payments, you may be able to use bankruptcy laws to keep your vehicle in your possession.

Both types of personal bankruptcy address cars, car loans and vehicles you own outright:

  • The automatic stay in bankruptcy is designed to stop repossession. In most cases, this goes into effect right after you officially file for bankruptcy.
  • Chapter 7 bankruptcy exemptions may protect your car from a forced sale.
  • Filing for bankruptcy under a Chapter 13 may allow you to repay your car loan at a more affordable rate so that you don’t lose your car to collectors.

Keep reading or fill out the below form to ask an attorney if a bankruptcy could help you save your car.

What Happens When You File for Bankruptcy?

Get answers to your bankruptcy questions.

Learn how you may be able to use bankruptcy to save your car, home or other assets.

For a free bankruptcy case evaluation with a local bankruptcy lawyer, complete the below free form:

Car Loans Under Chapter 7 Bankruptcy

Chapter 7 bankruptcy is designed to help eliminate unsecured debts such as credit cards debt or medical debt, but may provide protection for secured debts such as cars.

If you own your car outright, and owe no debts on it, then your car may be fully protected from repossession or forced sale due to Chapter 7 exemptions.

One important aspect when filing bankruptcy is whether you have a clear title to your car. If you have pledged your vehicle as security for a debt, or if you are financing or leasing a vehicle, you likely have three options for secured car loans when you file Chapter 7 .

1. Reaffirm: A reaffirmation agreement is a contract between you and the car creditor in which you agree to pay the balance owed on your car note, despite the bankruptcy filing.

You continue to make payments and the creditor promises that, as long as payments are made, they will not repossess or take back the property.

Reaffirmed debts are not discharged and the debt survives the bankruptcy.

If you do not make your car payments after you reaffirm the car loan, the car lender can repossess the car and sue you for the deficiency balance.

After the finance company repossesses the car, they will sell the car at the auto auction. Usually the finance company does not get enough money from the auction to pay off your loan.This shortfall is called a “deficiency” and you would still be legally obligated to pay the creditor the deficiency balance.

As you can see, the decision to reaffirm your car loan is a serious financial matter.

Reaffirmation agreements are strictly voluntary. You are not required by the Bankruptcy Code or other state or federal law to reaffirm your car loan. Before entering into such an agreement, you will want to speak to a bankruptcy attorney to make sure that the reaffirmation is in your best interest.

2. Redeem: In Chapter 7, you have the right to purchase or redeem your car from the creditor by making a lump sum payment equal to the car’s fair market value.

The U.S. Bankruptcy Code provides that you must pay the creditor the replacement retail cost of the car. The balance of the debt will be discharged.

For example, assume you own a car worth $5000.00, but owe the finance company $10,000.00. In this circumstance, you could redeem the vehicle by paying the creditor $5000.00 and the remaining balance will be discharged in your bankruptcy.

A local bankruptcy lawyer can advise you on the benefits of redeeming your financed car and identifying lenders that will provide the funds for your vehicle redemption.

3. Surrender: If you cannot afford the monthly payments on your car loan or if you determine that you owe more than the car is worth, you can unload the car and the debt in your Chapter 7 bankruptcy by surrendering the vehicle to the creditor.

Car Leases in a Chapter 7

If you are leasing your car when you file Chapter 7 bankruptcy, you can choose to either continue making the monthly lease payments or surrender the car back to the creditor.

If you surrender the leased car, any obligation to repay debt will be eliminated in your Chapter 7 bankruptcy case.

Car Loans in a Chapter 13 Reorganization

If you have fallen behind on your car payments, you may be able to file a Chapter 13 bankruptcy to stop the repossession of your vehicle. The amount you have to pay for your car depends upon when you bought your car.

If you own your car outright, and owe no debts on it, then your car should be fully protected in Chapter 13.

910 Claims: If you bought your vehicle within 910 days of filing your bankruptcy case, you must repay the entire car loan.

The good news is that the interest rate you pay on your car loan may be significantly reduced.

For example, if you owed $10,000 on a car loan whose blue book value was only $5000, you would be required to pay the entire $10,000 balance if the car was purchased less than 30 months, or 910 days, of filing. In short, debtors who want to keep their cars must pay the full loan amount rather than “cram down” the debt to the value of the car.

Cram Down: If you bought your car more than 910 days before you file bankruptcy, you will only have to repay an amount equal to the present value of the car.

For example, if you owed $5000 on a car that is worth only $2500, upon filing Chapter 13 you would be required to repay the finance company only $2500 over the three-to-five year term of your Chapter 13 repayment plan.

Car Leases Under Chapter 13 of the U.S. Bankruptcy Code

Your car lease usually cannot be paid through the Chapter 13 bankruptcy repayment plan that you devise with your bankruptcy attorney.

You can “assume” the lease and continue making the monthly payments. You can also “reject” the lease and return the car to the creditor.

The creditor will sell the leased vehicle, apply the sale proceeds to your lease balance and then file a claim in your Chapter 13 bankruptcy case for the lease deficiency.

This deficiency is an unsecured, non-priority claim, which means you will likely only pay that creditor pennies on the dollar.

Speak With a Bankruptcy Attorney About Protecting Your Car Today.

If you have questions about how your car will be affected if you file bankruptcy, talk with one of our sponsoring lawyers.

Fill out the form on this page to talk with a local bankruptcy attorney. Bankruptcy laws can be complex and each person’s financial situation is unique. If you’re worried about losing your vehicle, home or other assets, be sure to get the facts from a legal professional.

Don’t wait until the repo truck comes to you door or the foreclosure notices start piling up. Learn how bankruptcy can stop repossession and foreclosure and is designed to silence creditors!

The above summary of bankruptcy law is by no means all-inclusive and is not intended to serve as legal advice. Laws may have changed since our last update. For the latest information on bankruptcy laws, speak to a local bankruptcy lawyer in your state.


Auto Financing, Bankruptcy Auto Loans, Bad Credit Auto Financing #roberts #auto #center


#auto loans
#

AUTO FINANCING PROGRAMS FOR ALL CREDIT TYPES!

Premier Auto Financing is an online service that offers a simple, fast and personable method for obtaining a loan for buying a vehicle! Customer satisfaction is our number one priority! We work with people of all good and bad credit types; funding over $2.5 billion in car loans since 2007. and over $15 billion since 1998! Our program is available in all 50 states, consisting of a network of over 500 lenders! This allows us to offer the most competitive auto loan rates available online! We can approve 85-95% of loans that typically get denied by traditional lenders.

Obtain Instant Auto Loan Approval in Less Than 30 Minutes!

Our services are the fastest way to apply for auto financing over the Internet. The secure application only takes a few minutes to complete. A local participating lender will be calling to help with your approval within minutes of submitting your request. We will work closely with you to put together an auto financing package that will get you the cash you need, while fitting your budget.

It Takes Less Than 24 Hours to Get Your Money! GUARANTEED!

Once you agree to the rates and terms of your loan, you will be given the option of how you would like to receive your funding. You can choose to have your money instantly deposited into either your checking or savings account, or have a check sent to you overnight via Federal Express.

Our FREE, no-commitment application takes just a few minutes to fill out, and has assisted thousands of high-risk people achieve approval for bad credit auto loans! All applications that meet the above requirements are guaranteed to be processed for instant approval consideration. Even if you have no credit history or are looking for auto financing after bankruptcy and/or repossession, WE WILL HELP YOU! Great programs for students and people in the military!

Build/ Rebuild Your Credit Today!

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Bankruptcy

Bankruptcy helps people who can no longer pay their debts get a fresh start by liquidating assets to pay their debts or by creating a repayment plan. Bankruptcy laws also protect financially troubled businesses. This section explains the bankruptcy process and laws.

About Bankruptcy

Filing bankruptcy can help a person by discarding debt or making a plan to repay debts. A bankruptcy case normally begins when the debtor files a petition with the bankruptcy court. A petition may be filed by an individual, by spouses together, or by a corporation or other entity.

All bankruptcy cases are handled in federal courts under rules outlined in the U.S. Bankruptcy Code.

There are different types of bankruptcies, which are usually referred to by their chapter in the U.S. Bankruptcy Code.

  • Individuals may file Chapter 7 or Chapter 13 bankruptcy, depending on the specifics of their situation.
  • Municipalities—cities, towns, villages, taxing districts, municipal utilities, and school districts may file under Chapter 9 to reorganize.
  • Businesses may file bankruptcy under Chapter 7 to liquidate or Chapter 11 to reorganize.
  • Chapter 12 provides debt relief to family farmers and fishermen.
  • Bankruptcy filings that involve parties from more than one country are filed under Chapter 15.

Bankruptcy Basics provides detailed information about filing.

Seeking the advice of a qualified lawyer is strongly recommended because bankruptcy has long-term financial and legal consequences. Individuals can file bankruptcy without a lawyer, which is called filing pro se. Learn more.

Use the forms that are numbered in the 100 series to file bankruptcy for individuals or married couples. Use the forms that are numbered in the 200 series if you are preparing a bankruptcy on behalf of a nonindividual, such as a corporation, partnership, or limited liability company (LLC). Sole proprietors must use the forms that are numbered in the 100 series.

Finding a Lawyer, Including Free Legal Services

If you need help finding a bankruptcy lawyer, the resources below may help. If you are unable to afford an attorney, you may qualify for free legal services.


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Experience that will help you save time, money, and stress.

What is a Chapter 7 Bankruptcy?

A Chapter 7 Bankruptcy is a legal action making your possessions (called assets) available to creditors (to whom you owe money) in exchange for eliminating your debts. The action takes place in federal bankruptcy court and is started by filing a petition by you (the debtor) listing all of the things you own and ALL of the debts you owe.

What is a Chapter 9 Bankruptcy?

A lesser recognized chapter of bankruptcy that is particularly designed for “municipalities,” which includes counties, taxing districts, cities, towns, municipal utilities, and school districts.

What is a Chapter 11 Bankruptcy?

Chapter 11 is known as the reorganization chapter of the bankruptcy code because it permits a debtor to reorganize financial obligations while retaining assets, which may be accomplished through the sale of certain assets to pay down debt and refinance existing debts.

What is a Chapter 12 Bankruptcy?

A Chapter 12 can be filed by a family farmer or fisherman. To qualify, more than 50% of your income must be derived from a farming or fishing enterprise our courts have given pretty wide latitude to what constitutes a farming enterprise.

What is a Chapter 13 Bankruptcy?

A chapter 13 bankruptcy is also called a wage earner’s plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years.

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Chapter 7 Bankruptcy?

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Chapter 9 Bankruptcy?

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Chapter 11 Bankruptcy?

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Chapter 12 Bankruptcy?

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Chapter 13 Bankruptcy?