Bankruptcy is one of those things people hate to do, but sometimes is the only way out of a desperate situation. After Bankruptcy, it is possible to get a Car Loan!
After Bankruptcy, go to your local bank and see about taking out a small personal loan with some collateral. It does not have to be a large amount to start out. Try borrowing $300 and put your computer or TV up for collateral. This is just a start to building your credit up after bankruptcy.
Next, apply for a credit card. This is what got most in Bankruptcy trouble in the first place so be careful. A high risk card may have a large fee just for opening. You may have a $200 balance the day you open the card, but this is just to get a start on your credit. Do Not go out and charge a large amount on the card. After 3 or 4 payments, your limit will be raised so do not get carried away. You want to always keep your balance on a credit card below half of the available limit to get maximum points on your credit score.
After Bankruptcy, you do not have to pay extra for a car. Some loans do require you to pay an acquisition fee, but do not think you have to pay full sticker for the car. Go To Yahoo! Autos
and get a FREE QUOTE on the vehicle of your choice. Make sure you fill the form out completely and they will fight for your business. This will give you a price before credit is ever discussed.
You may find these articles useful as well:
Credit Scores; What They Mean And How To Improve Them.
Used Car Buying Tips
Bad Credit Car Loans!Source URL: http://ashesgarrett.blogspot.com/2008/01/car-loan-after-bankruptcy.html
Visit ashes garrett for Daily Updated Hairstyles Collection
After Bankruptcy, go to your local bank and see about taking out a small personal loan with some collateral. It does not have to be a large amount to start out. Try borrowing $300 and put your computer or TV up for collateral. This is just a start to building your credit up after bankruptcy.
Next, apply for a credit card. This is what got most in Bankruptcy trouble in the first place so be careful. A high risk card may have a large fee just for opening. You may have a $200 balance the day you open the card, but this is just to get a start on your credit. Do Not go out and charge a large amount on the card. After 3 or 4 payments, your limit will be raised so do not get carried away. You want to always keep your balance on a credit card below half of the available limit to get maximum points on your credit score.
After Bankruptcy, you do not have to pay extra for a car. Some loans do require you to pay an acquisition fee, but do not think you have to pay full sticker for the car. Go To Yahoo! Autos
You may find these articles useful as well:
Credit Scores; What They Mean And How To Improve Them.
Used Car Buying Tips
Bad Credit Car Loans!Source URL: http://ashesgarrett.blogspot.com/2008/01/car-loan-after-bankruptcy.html
Visit ashes garrett for Daily Updated Hairstyles Collection
