The greatest majority of people that do declare bankruptcy choose either Chapter 7 or Chapter 13. Chapter 7 liquidates the assets of the debtor and uses the proceeds to pay off as much as possible of the debt, Chapter 13 on the other hand includes a court appointed trustee that sets rules that the debtor must follow during the time when the debts are being repaid.
Finding bankruptcy car loans:
Perhaps the best place t start looking for bankruptcy car loans in San Antonio is on the internet. There are numerous sites that take your information and submit it numerous lenders at the same time. The best companies that are happy to deal directly with bankrupts and others with poor or no credit also provide information on their services.
Expect higher interest rates:
Once you have been discharged from bankruptcy you have to begin rebuilding your credit rating, this can take a number of years. In the meantime, as a bankrupt you are considered a high risk borrower. This actually is not too bad, after all you are debt free and starting over has to begin somewhere and it might as well be investigating what is available in bankruptcy car loans in San Antonio.
You must be realistic with your choice of car:
Don’t set your sites too high, no financial institution is about to loan you what it takes to buy a new Mercedes for example. Most of the time you will be limited to purchasing a car that at one time was on lease or perhaps was part of a rental fleet. There is nothing wrong with these cars, especially when you buy from a dealer that not only offers bankruptcy car loans in San Antonio but also offers a lifetime warranty.
If you are starting to rebuild your life there are responsible lenders that offer bankruptcy car loans in San Antonio. To discuss what is available you are invited to contact Business Name, your source for easy car financing. Visit us to know more about bankruptcy car loans.
