4 Steps to Deal with Your Own Debt Ceiling Forbes (blog)
Now that the President and Congress have reached an agreement to raise the debt ceiling and are hopefully beginning to take the difficult steps to actually balance the federal budget, perhaps it’s a good time to start thinking about our own debt. Unlike the government, we can’t just vote to raise our own debt ceiling. So what can we do if we’re living beyond our means and worried about having our own debt crisis?
1) See if you can refinance the debt at a lower interest rate.
With interest rates near record lows, the federal government has had the luxury of being able to borrow money relatively cheaply. Unfortunately, credit cards haven’t quite followed suit, especially if you don’t have Uncle Sam’s AAA credit rating. However, you may be able to transfer your higher rate balances to credit cards with low or even zero interest at least for a limited period of time. Just be careful of balance transfer fees and having to pay even higher rates after introductory balance transfer rates expire.
How to Choose the Best Home refinance Home loan Calculator
Article by Rosa Hyde
Choosing the Best Refinancing Property finance loan Car finance calculator
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Can be to the most effective refinancing house loan online car loan calculator, it is possible to put it to use in excess of well as over yet again to find out precisely what the result will be. You are able to transform any of your boundaries as a way to view which feature include the very best to your financial loan refinancing. This could be a real difference in between food ordering when each week in the pleasant eating place inside them for hours to decontaminate report dishes for you to keep your home. When it is almost all claimed in addition to carried out, you will discover solutions to purchase the very best feasible re-financing for those who do just a small amount of analysis.
...Refinance Help. Fill this form and get help!
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Getting a car refinance loan in bankruptcy.?
How can a person get a refinance loan in bankruptcy? The car is in the shop and a new motor was installed. The fee owed is $3,500. The car is fixed now and just waiting at the shop.
The car is a Toyota Celica GT, and has a blue book value of a little over $4,000.
Since bankruptcy is in the picture, no bank will finance a loan.
I know there are quite a few details left out, but suggestions would be appreciated.
The husband works full time, and the wife is seeking employment, but has limited work experience and skills outside of motherhood.
Oh yeah, the car is fully paid off and title is in the husbands name.
These people live in Texas
You might be able to go to a title store. This would be a place that says that they will give you money by just bringing in your clear title. The problem with these places is the interest rate. They can charge anything they want and they usually do. Sometimes even 300%. So if it was me I would try and wait till the bankruptcy is discharged and then try a local credit union. Good Luck!!!
Would it be good to refinance car loan when the current loan is reported as Included in Bankruptcy wrongly?
I've got a car loan that was kept through my bankruptcy and I've been paying on for approx two years since now and just realized they reported it as part of my bankruptcy and they will not change(included is said because it was written about in the papers even though it was reaffirmed). I'm trying to now fix my credit up some and would like to know if it will help or even effect at all my credit to refinance it now?
I went through this same thing back in 2001 and Ford was not reporting my account, all it took was a simple phone call and they updated the information on the bureaus.
If your lender will not do this, you will have to have proof that you have been making the payments to be approved for a refinance loan.
If you do get refinanced, it will help your credit as long as your lender reports to the credit bureaus.
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If this is not your first time buying a car, then you may be well aware of the various steps that you have to take as well as the pitfalls to avoid. If however, this is your first time around, you may not be aware of this. So here are some guidelines that will help make your car purchase a smooth one:
Know exactly what type of car you want and how much you are willing to spend on it. Use the power of the Internet to do your research. Do not start off with a blank cheque. Always bear in mind that a car loan generally requires a medium to long term financial commitment. You should therefore look at this expenditure with a very futuristic view. You should also factor in as well, the possibility of unexpected expenses such as accident, illness etc.
Always know what your credit score is in advance. This will ultimately determine if lenders will be willing to lend you and how much. Very recently, I met someone who took it for granted that all was well with their credit score. When he applied for the loan, he had serious problems. There were transactions on his credit report that he knew nothing about, and these damaged his credit rating. It turned out that he was a victim of identity theft and was completely unaware of it. So even before approaching any finance house for a loan, please get into the habit of checking your credit score on a regular basis. It can save you a lot of stress.
Shop around for the lowest rate car loan you can find. Car loan repayments are calculated using an amortization schedule. You will be given a fixed monthly payment to make, part of which will be paid towards liquidating your outstanding interest and the rest towards your principal. As the age of the loan increases, the interest accrued each month will decrease resulting in more of your payment going towards your principle. But the point here is that a seemingly small change in the interest rate can significantly impact on the total amount you pay over the term of the loan, particularly for a medium to large principle burrowed.
Most dealers will also offer financing. Always remember that they offer financing on behalf of some financial institution and will get a cut for each loan they get. You will have to pay for that cut. It will be included in the total amount you will pay over the duration of the loan. Even though it may appear to be more convenient and saves you time, it will definitely cost you more. It is therefore better to get financing for your car loan directly from a bank or financial institution.
If you are looking at refinancing an existing loan, first ensure that everything is in order – particularly if you are seeking to refinance after filing for bankruptcy. I must repeat – keep your eye on your credit report.
Be truthful in filling out the application for the car loan. Do not try to burrow more that you can comfortably afford. This will backfire on you and could negatively impact on your credit score. If the car you want is more than your credit rate allows, then settle for less while you build on your credit score and you savings.
Best Regards
http://www.smartecredit.com/online_car_loan_application.php
Where can I go to refinance my car loan?
I have credit issues, bankruptcy discharged in 2006 and late payments after that, and I am looking to refinance my truck loan. I guess I am still considered a risk even though my credit scores have improved drastically. Any suggestions where to look?
Auto finance is what I do for a living and with late payments after a bankruptcy, it's most likely going to be hard to get a better rate then you have now.
You might try H.S.B.C., Capital-One, Wells Fargo and Citifinancial Auto. They all have good bankruptcy programs.
Where can I go online to refinance my current car loan?
I had to file bankruptcy 08/2005 after my divorce so my credit is poor. But I am needing to refinance my loan? I am single mother who is trying to find ways to cut payments? Anybody please help????
I found a site that lists a couple of services that will help you find an car loan with poor credit. Just make sure that they don't ask you to pay a fee for finding you a lender. Anyone who does will likely scam you.
You'll want to check these guys out....99% approval they say.
http://www.123thebest.info/go.php?link=auto
Hope that helps.
If you're interested find out more information on getting an unsecured personal loan here >>
http://www.cashloans-unlimited.com/unsecured-personal-loans.html
You should also look at a debt consolidation program as well - you can get more info on this here >>
http://www.cashloans-unlimited.com/debt-relief.html
Good luck!
my little advice is that you go to a bank in your area to request for the loan and that is if you have a collateral, but if you want loan from those that give out unsecured loan without a collateral i know of someone that gives out unsecured loans, though he is the only one i have tried for now so i don't really know if his interest rate is the lowest, here is their contact information if you want to contact them. (kingstonloaninc@live.com)
i am sure they can be of help to you.
car loans and bankruptcy?
My Grandparents have a loan for my car, I am also on the title but I cannot refinance the loan in my own name alone because I do not have enough credit history. I have been making all of the payments on time and often waaay more than the minimum amount due. The problem is that my Grandparents are having financial problems and they are considering bankruptcy, how will this affect my car? I have never missed a payment and I have worked really hard for this car, will the banks (or whoever it is) take it away and require me to pay the rest of the bill anyway?
I have good credit, just not enough credit history.
Hi try not to worry when your grandparents file for bankruptcy they will just need to explain the situation with the car and not include it in their petition as it is a debt in their name but that you are paying so as long as you keep up payements there should be no issue. If they did ask for the car to be taken away the rest of the debt would be wiped as part of the bankruptcy.
Hope this helps.
em ;-)
It can really save you a lot of running around to just get an auto loan estimate on the web to check out what the going rates are. You might be really suprised. Also if your credit is not so great, a lot of online loaners are more able to help you.
What I usually tell folks is that an internet quote at http://auto.lowratetoday.com is the way to go.
How do I get my name off a co-signed car loan?
I co-signed on a car loan right before I separated from my husband and later divorced. He has a Ford Explorer of which he hasn't made the payment on for the last 4 1/2 months. No one will allow him to refinance because of the defaulted payments. During the divorce it was understood in court that the Ford would be his responsibility. So how do I get the finance company to see that and not go after me for the amount due? And what if he files bankruptcy will I then be liable for the bill? HELP PLEASE it's a lot of money.
The contract you signed as co-signor supercedes the divorce decree. If you co-signed, you will be responsible until the truck is paid for. You may want to consider talking to an attorney about taking posession of the truck and selling it.
And if he files for bankruptcy, they will come after you for it.
As a finance manager for a car dealer I see this so many times every month it makes me sick. But, it's the law.
Depending on how much is owed on the vehicle verse what it's worth, you might want to approach the lender and see if you can make a deal where they rewrite the loan in your name only. You would have to get the vehicle from your ex-husband, but at least it would stop your credit being trashed.
Pretty scary huh? You have all my empathy!
That's the only way you can go. Some lawyers do provide a free of charge consultations (you might want to call them). Usually they don't charge if they don't win the case for you.
Good luck!
Typically, to get your name off a co-signed loan, the lender has to agree to it.
Is the Explorer worth more than the loan amount? If it is, you may be able to negotiate something with the bank without your husband's knowledge. You should talk to the bank about the matter.
if you ex is hell bent on ruing his credit and taking you down, you will need to make payments on the car and sue the ex to get possession of the car to sell and release the note
When you say "understood" is it in writing???If not, looks like you've been outsmarted..
Question about a loan and Bankruptcy?
I filed for Chapter 13 three years ago with a 36 month payback plan, I have almost finished the plan and had a question. I didn't include my house, I have never been late on my mortgage. Once I am discharged from my bankruptcy I want to apply for about a $7000 loan. I don't want to refinance my house to get the money. The loan is for a motorcycle. I have a car that I can use as collateral, it's worth more than $7K and I have the title free and clear.
Do you think even with the fact that I have collateral that is the equivalent to the loan value I will still be charged a crazy interest rate? Any suggestions?
And in case anyone says don't get the bike....I'm a cancer survivor and disabled veteran, I deserve the darn thing after what I've been through.
Not a chance for a loan against another vehicle, The vehicle will depreciate over the life of the loan and will be worth less than the original loan. You'll have to use your home as collateral against a second mortgage. Sorry. Army Strong!!
try
http://www.usalegalcare.com/Bankruptcy.htm
How can I get a small, cash loan 1 year after a bankruptcy?
My husband and I have always had perfect credit until a business failure 2 years ago. We had to file for bankruptcy (it was discharged 1 year ago). Does anyone have names of reputable lenders willing to do a small loan -- maybe $2,500? We have been almost a month behind on our mortgage for a year now and I can't seem to catch up. Also, part of the $$ would be for a down payment on a car. We would try to refinance or get a home equity loan but due to the fact that it is a manufactured home (on 5 acres) lenders seem to turn up their noses on us -- especially since our credit ratings have suffered due to the BK, etc. Any suggestions?? Thanks - linbad
There is some good info here.
How can I get a used car loan with bad credit, I knw other people who have done it?
I was in bankruptcy(chapter 13), I had almost paid off my debts, to help myself out I refinanced my house to get a lower interest rate, and pay the chapter 13. I did that, and everything was fine then I had a heart attack, and now my credit in a worse state then it was before, Help!
There are many auto dealerships in our area that do in-house financing and offer the buy here, pay here option. I do not personally endorse any one place, however I know of a few people who have gone through a place called DriveTime. You can do a search, they might have a website or a dealership in your area. Even more lenient with credit worthiness are the small dealerships that offer the buy here/pay here option on their marquees. My suggestion? Drive around with a friend, keep your eyes open for these small operations. Or, check your local newpapers for similar offers.
My ex filed for bankruptcy and his name is secondary on my loan...will they repo my car?
He filed Chapter 7 bankruptcy with his wife this past fall. While we were married, we bought the car I am driving now, I am the primary borrower, he is the secondary. The title says me OR him and he was not required to sign in order for me to register here (I moved out of state for a year after the divorce then came back). I tried calling my leinholder (Chase) but they won't refinance and my credit now sucks because I was out of work (right when I moved out of state) due to a broken leg.
I have been making my payments on time (for the last year almost) but am too scared to call Chase and ask them. I realize I should ultimately call a lawyer but figured I could gain some insight here. I have gotten a few notices from his laywer, listing myself along with the rest of his creditors. He owes me nothing - and in our divorce the papers say we were to take the cars we were presently driving, but neither was listed by make/model etc.
Can/will they repo my car? PS - I live in NH.
I was thinking perhaos because his name is also on the loan they'd take it...
Less the laws are different there, as long as you are making the payments they will not take it. Pretty much all they care about is getting their money. But when a spouse or ex spouse files bankruptcy any debt will fall on the party that did not file bankruptcy. So bascially he made it where you have no choice but to pay it or ruin your own credit even more. Now keep in mind girly i am not a lawyer, but i have enough friends who one of them filed bankruptcy and not the other and that is how it worked. Seems the way most ex's like to get revenge is to file bankruptcy and lay all depts off on the other person. You might want to double check, but i think most bankruptcy laws are the same across the US
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