Capital One Auto Loans After Discharged Bankruptcy?
Has anybody had the experience of applying for a Capital One Auto Loan after a discharged bankruptcy? How Long? What were the results?
Has anybody had the experience of applying for a Capital One Auto Loan after a discharged bankruptcy? How Long? What were the results?
March 9th, 2010 at 12:14 am
I work with Capital -One every day. they are one of my largest banks and are very good about working with people that have suffered bankruptcy. I have seen them approve people that took their credit card division down in their B.K. for a vehicle loan.
As soon as you get your discharge papers.
March 9th, 2010 at 12:14 am
Not knowing to much about Capital One, but as with other lenders it depends on how long ago the bankruptcy was discharged. In real estate transactions it goes about 4 to 5 years depending on the lender and what is on your credit report and what your credit score is. It took me 4 years to get my credit score from a 580 to 739 after a bankruptcy was discharged in Sept. of 2002
March 9th, 2010 at 12:14 am
I filed bankruptcy in September of 2005 in November 2005 I purchased a 2005 Nissan Sentra and when my husband needed a car he actually needed me to cosign and that was in January 2006. So both my vehicles are financed by capital one. What I can say to you is that after filing for bankruptcy and having it discharged make three additional copies mail one to each bureau Experian, Equifax, Transunion and then make sure you have the debts that were discharged reflecting discharged on your credit report. My credit score went from a 420 to 620 in six months with the negative debt removed and my new car loan reporting. Be careful about applying for new financing and make sure to check your credit at least once a month for the first three to four months because some creditors keep reporting you owe them even though the debt was included in bankruptcy. You may even have to mail copies of the bankruptcy papers to them. in the end though you will not have trouble financing like people make it out as long as you fix your credit to remove the negative debt so the positve debt you have created will show.
March 9th, 2010 at 12:14 am
Capital One Auto Loans are very good for people out of bankruptcy. More and more companies acutally are making loans available to those out of bankruptcy. It’s usually the normal thinking you can get an auto loan literally right after your discharge, however you may want to make sure your credit reports are all reflecting your bankruptcy properly and then go get the loan to get a better interest deal. Home mortgages can be obtained 2 years after discharge now at rates comparable to those without a bankruptcy on record.
March 9th, 2010 at 12:14 am
Capital auto loans are better and you can get one easily but you have to make some search on google or yahoo. But you can try some other low interest car loans also.
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