Car News Articles 
 Alternative Fuel Vehicles
 Automotive Articles
 Car Buying Tips
 Car Financing (29)
  Car Warranty (5)
 Car Insurance Articles
 Car Maintenance
 Car News
 Car Racing
 Car Repair
 Car Safety
 
 Driving Economically
 Environmental Issues
 Exterior Car Care
 Garage Know How
 
 How Car Stuff Works
 Motorcycle Articles
 Road Trips
 Traveling with Kids
 Younger - Older Drivers
 
 Amsoil Synthetic Oil
 Article Archives




spacer
spacer
Car Buying Tips >> Car Financing



Would I Qualify For A Bankruptcy Auto Loan?

If you incur bankruptcy, filed for one and you need to avail yourself of a vehicle loan then you can approach a lending specialist that can offer you bankruptcy auto loans. A bankruptcy auto loan is the loan you availed of after incurring bankruptcy. Specialist lenders and car dealers can extend bankruptcy loans for consumers after filing bankruptcy. There are specialist lenders who extend the bankruptcy auto loan to their customers on a daily basis. You can be assured that the lending specialists will exhaust every means to be able to approve the loan for you.

There are a number of reasons why people file for bankruptcy. But the most important one is as a debt management option. But you should be aware of what bankruptcy entails before you file for it. You must exhaust other options available. Filing for bankruptcy should be a last resort.

There are two different types of bankruptcy:
Chapter 7 (liquidation) which is where your non exempt asset are sold and the money generated are distributed to creditors to pay off debts.
Chapter 13 (restructuring) where you establish a repayment plan so you can repay your creditors within a period of 3 to 5 years. Properties, in this instance, are not sold. The court can decide how creditors get paid and what debt percentage you need to repay.

Dischargeable debts in cases of bankruptcy include credit cards, banks loans, unsecured debts, leases, real estate and personal properties. Non dischargeable debts include child support, alimony, student loans, legal debts owed to state, tax debts, divorce settlement, claims from driving under alcohol or drugs. Bankruptcy will stay on your credit report for up to 10 years.

Bankruptcy auto loans are one of the best ways to re-establish credit after bankruptcy. Since a car is necessary for people to be able to go to work and pay off their loans, dealers and lenders have created the auto financing loan special program to help people with bad credits or even those filing for bankruptcy avail of bankruptcy auto loan.

Specialist lenders often have programs for people who file for bankruptcy and want to avail of bankruptcy auto loan. Specialist lenders help people who find it hard to secure auto loan because of bad credit or bankruptcy. They can provide bankruptcy auto loan regardless of your auto loan circumstances.

Bankruptcy auto loan financing could help you get rid of the bad credit and establish good credit standing again. If you file for bankruptcy you will pay higher interest rates on bankruptcy auto loans than what is normally charged because lenders consider you a higher credit risk. If you avail of bankruptcy auto loan, make sure that you make the most out of this second chance. Pay your monthly payments to the auto financing loan special promptly. And do not lapse on your payments.

The good credit standing you can establish is important because this could shave off several hundreds even thousands of dollars on your annual auto loan payments in the future. Since the interest rates are higher for bankruptcy auto loan, it would be wise to purchase a less expensive vehicle or a used one.

Source: http://www.articlecircle.com/ - Free Articles Directory

About the Author
T J Madigan has been established in online business since 1998 and is director of a number of successful online projects one of which is http://www.articles.net.au your best source for FREE articles and information.







Related Articles:
Getting a Good Deal On A Bad Credit Auto Loan
Would I Qualify For A Bankruptcy Auto Loan?
Auto Refinancing Puts Gas Money in Your Pocket
Financing Your Next New Car
Shopping for a Used Car Loan
Clean Up Your Credit For A Better Auto Loan Rate
Refinancing Your Car Loan
Refinance Car Loan
Car Finance Loan: When You Can't Just Wait to Buy a Car
Three Steps to Saving Money on New Car Financing
Using An Online Car Loan Company
You Can Get An Auto Loan Without A Credit Check
Looking For A Great Auto Loan Rate
Save Money By Refinancing Your Auto Loan
There is A Car Loan Out There Just For You

spacer
sdg
make image
model image
zip code


Stay Updated!


Car Financing
Related Articles
Spring Car Shopping? Take Care
Car Credit And Financing Facts
Before Applying For Auto or
Car Financing Tips To Know
Car Loan Calculators
Getting a Good Deal On
Would I Qualify For A
Auto Refinancing Puts Gas Money
Financing Your Next New Car
Shopping for a Used Car
Clean Up Your Credit For
Refinancing Your Car Loan
Refinance Car Loan
Car Finance Loan: When You
Three Steps to Saving Money
Using An Online Car Loan
You Can Get An Auto
Looking For A Great Auto
Save Money By Refinancing Your
There is A Car Loan
spacer

Feed Button



Car Insurance Info | Newsletter | Car Classifieds | Online Car Rentals
Auto Pictures | Link To Carjunky.com



Complete List of Article RSS News Feeds


Copyright © 1999 - . CarJunky® All Rights Reserved.