Jump to content

lomalindagt

Members
  • Content Count

    6
  • Joined

  • Last visited

  1. I read as much as I could about CPS. I don't expect much from any subprime lender and will look to refi in six to eight months. I have paid off two auto loans with Cap One so laying my hopes with them, while also beginning a relationship with a local credit union. I had zero problems with Santander, for that matter. I was never late on payments and found their bankruptcy department was courteous to a fault, did modify the terms for a proposed reaffirmation, but not much. Now if I had ever missed a payment, or if I were to be late with CPS, I would expect the full fury of collection practic
  2. Chapter 7 file June 22, 341 hearing July 28, Open Chapter 7 Car: 2014 Honda Civic EX Used Costco Auto Price program, MSRP of $21,880, Purchase price $18,590 plus $590 GAP Loan App Aug. 13 Lender: Consumer Portfolio Services Down payment: $3,000 Financed amount: $18,190 APR: 14.7 percent Monthly Payment: $429 Term: 60 months Opted not to take 72 months at $380 a month Equifax Auto Enhanced Score: 577 Transunion pulled but not used: 641 I'm sure the dealer added a couple of points to APR, as the offer was for an APR of 15.7 percent without the GAP, 14.7 with the GAP. I suspect CPS APR was aroun
  3. Chapter 7 file June 22, 341 hearing July 28, Open Chapter 7 Car: 2014 Honda Civic EX Used Costco Auto Price program, MSRP of $21,880, Purchase price $18,590 plus $590 GAP Loan App: Aug. 13 Lender: Consumer Portfolio Services Down payment: $3,000 Financed amount: $18,190 APR: 14.7 percent Monthly Payment: $429 Term: 60 months Opted not to take 72 months at $380 a month Equifax Auto Enhanced Score: 577 Transunion (not auto enhanced) pulled but not used: 641 I'm sure the dealer added a couple of points to APR, as the offer was for an APR of 15.7 percent without the GAP, 14.7 with the GAP. I susp
  4. Thanks for your replies. And, yeah, Marv, I am baffled by this guy's pitch. My Chapter 7 was filed Sunday and I've already gotten predischarge auto loan offers. Anecdotally, they appear to be in the 16 to 18 percent range. And, no, I guess I won't make another payment on my present car. Prior to filing I was getting 12 percent refi offers in the mail with my pre-filing credit. In my court district, I have been told not to expect discharge in my no asset Chapter 7 until November. I expect the lender will want this Corolla back a tad sooner than that!
  5. That's one of my concerns. I'm assuming he gets a cut for commission and some of the dealer income from the financing? I have many concerns with this guy, but he has quite a few positive consumer reviews and is referred by many Southern California bankruptcy attorneys, according to his website. I could understand it if his relationship was with lenders and receive a commission on closed loans, but he says he is paid by the dealers. I'm very tempted to steer clear, but his social media presence seems solid. So you never deal with auto loan brokers?
  6. My Chapter 7 is being filed by an attorney electronically this weekend. I will not reaffirm my car, but plan on paying to retain with the balance discharged. I'm upside down by about $4,000 on a 2011 Corolla, but have never been late on payments. My attorney has suggested I not reaffirm, and I can't redeem and a 722 redemption is not in my best interest. I was referred to a loan broker who specializes in pre-discharge and post-discharge auto loans. I think If I went on my own to a dealership the best I could do is 14 to 18 percent apr on a new car (just want a Honda Civic). I s
×
×
  • Create New...

Important Information

Guidelines