when can i get a new car

[jadaia]

What is the name of your state?Missouri
I finshed my 341 meeting. What is the time frame i should wait before trying to get a better car? What will banks say when they see i am in bankruptcy? How and when do i try to start over wit my credit?

[Ladynred]

You cannot go out and get any new credit now. How can you tell the Trustee/court that you have no money to pay bills yet turn around and come up with money for a car payment ??? That's the way the Trustee would see it.

There are car dealers who will give you loans, but the interest rate it going to be horrendous. If your car is running and reliable, I wouldn't be so eager to go out and dive back into more debt. You need to work on credit repair post-discharge , and reestablishing good credit slowly.

[katr]

Originally Posted by jadaia

What is the name of your state?Missouri
I finshed my 341 meeting. What is the time frame i should wait before trying to get a better car? What will banks say when they see i am in bankruptcy? How and when do i try to start over wit my credit?

Once you are discharged you can get a car, but be prepared to pay at least 24% interest. Start by getting a credit card (Capital One) that will only give you $300 credit limit, but after paying on time for 6 mths. they may increase your credit. This will start rebuilding credit.

[Ladynred]

I would caution AGAINST Crap 1 for several reasons.

One, they do not report your credit limit. They always only report your high balance and THAT makes it look like you are always maxed out on your card. That is BAD for credit rebuilding.

Secondly, Crap1 apparently has a new trick up its sleeve. If you are applying for a new account there is a new stipulation - if you have any old or DISCHARGED debts that Crap1 has bought (now that they buy up old junk debt !), they will REQUIRE you to pay off that old junk or discharged debt as part of your NEW account !! This, to me, smacks of attempting to collect on a discharged debt, but it has not been litigated as yet. If you don't agree to that, then you don't get a card. READ THE FINE PRINT.

There are plenty of OTHER cards out there that do NOT do this and who DO report PROPERLY, like Orchard Bank (which is Household). Stay AWAY from First Premier, that's nothing but pure rip-off.