Bankruptcy Help for Business and Individuals

Auto Financing After Bankruptcy

by | Sep 15, 2019 | Bankruptcy Articles

It is generally not difficult to obtain a car loan after one files bankruptcy. You may actually be a better credit risk after filing bankruptcy than before because you will have fewer bills to pay and your FICA score typically will improve.
Auto loans are secured so if you do not make your payments, the lender will repossess the car. Consequently, auto lenders have additional protection than unsecured credit card lenders. Car dealers a very anxious to sell cars in this slow economy, so you will probably be able to obtain auto financing, but the interest rates will likely be a little higher than for someone who has better credit history.
The financial challenge that I faced, followed by the bankruptcy option that I exercised, was for me a low point in my life. However, my decision to engage Paul Kurtzhall with the law firm of Hallstrom, Klein & Ward LLP was instrumental in getting my life back on the right track.

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