Re: re-establishing credit after bankruptcy...

Glenn,
Check out the book by Stephen Snyder entitled Credit After Bankruptcy. He tells you step by step how to rebuild your credit and your life after bankruptcy. And almost everyone I've spoken with has raved about Ford. Apparently Ford is very understanding and does loans and leases to people with a bankruptcy on their credit report. You may have to put more money down, pay a higher interest rate or even get a cosigner but they'll work with you instead of throwing their hands up in the air. At another bk board I post on, one of our members was able to buy a Ford F150 truck for $1000 and a 6% interest rate because they had a cosigner. Hope that helps but check out that book anyway!

P.

ggtnashville wrote:
Hello everyone,

I'm new to this group and the reason I joined was to
possibly get some insight as to re-establishing my
credit. I filed my chapter 7 last September and it
was discharged in full in December... In the meantime,
I have been approved for 3 low-limit credit cards
which I am using... Each month I pay way more than the
minimum required payment, but I do revolve about 20%
of the available credit, as I've heard this is the
best way to ensure positive reporting to the credit
bureaus. Now that I'm about a year out from the
Chapter 7, I am beginning to think about applying for
an automobile loan. I spoke to the bank where I have
my accounts, and after they heard previous bankruptcy,
the fella behind the desk literally threw his hands up
as if to say 'sorry, no-can-do!'. So, i've been
searching the net for non-traditional lenders, but
most offer such high interest rates, that I just can't
bring myself to do it.

Has anyone out there had a good experience with a auto
loan lender that they could share with me?

Thanks so much...

Glenn...