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Have you recently filed a petition for bankruptcy and wandering how to apply for a car loan? Well, you have certainly arrived at the right place because, at Valley Auto Loans, we have an incredible track record of helping customers with less than perfect credit to avail their desired auto loan with bad credit. Unfortunately, these days, many auto loan applicants have questions pertaining to bankruptcy. The good news is that Valley Auto Loans has answers to all your bankruptcy related queries to help you apply and qualify for your guaranteed bad credit auto loan in spite of bankruptcy.
In the United States, personal bankruptcy can be divided under categories chapter 7 and chapter 13. Depending on the category, bankruptcy can either be dismissed or discharged. Dismissal is more common in chapter 13 bankruptcy cases, and it results when the petitioner fails to adhere to the auto loan payment schedule that has been ordered by the court. There is a high probability of loan applications being rejected by the subprime lenders if dismissal is mentioned in the credit report. On the other hand, discharged bankruptcy refers to successful completion of the process, as per the court order. In such cases, a letter of discharge is issued by the court. Save this document carefully because this is an important document for your loan application.
Auto Loan with Bad Credit in America
There is no denying the fact that there is no better alternative than beginning to rebuild your auto credit. You need to reestablish both installment and revolving credit, as a part of your credit repair process. Credit card is the perfect example of revolving credit. A secured credit card can be an excellent option, in case you are not able to qualify for a standard credit card. In this type of credit cards, the credit limit is calculated on the basis of the balance present in your savings account. There are many lenders who convert secured credit cards to standard ones after regular payments for 12-18 months. Auto loan is the example of an installment credit. Unfortunately, not too many dealers and lenders are interested in working with poor credit customers immediately after they have finished their bankruptcy.
Valley Auto Loans will help you get an auto loan with bad credit!
However, Valley Auto Loans can certainly help you if your bankruptcy has just been completed, and it has been discharged by the court. We are excited to let you know that Valley Auto Loans has a nationwide network of lenders who have years of experience in serving customers that specialize in poor credit auto loans. We not only promise to approve almost all applications within a minute, but also offer an unbeatable interest rate to all our customers.
What are you waiting for? Start building your credit score simply by filling out our application for an auto loan with bad credit.