Dothan, Al Free Payday Loans

Question: In dothan,al where can i get a automobile while i am paying on a chapter 13 bankruptcy?

(Posted by: ctx52401 on 2009-03-09 12:14:11)

Posted by: S P on 2009-03-09, 13:21:04

Word to the wise while in a chapter 13 payment plan...If you find someone willing to finance you for an auto loan while in a chapter 13, you will have to have the trustee handling your case approve the loan FIRST and it takes approx 30 days for approval. You'll have to submit the paperwork to the attorney handling your case, who then submit it to the trustee for approval. It's not as easy as going to get a loan and getting approved, that is why the trustee is handling your finances thru the plan payments, they have the final say so in your case, until your case is complete and discharged. Good Luck!

Posted by: Beau.Gus on 2009-03-09, 12:29:30

You can buy one anywhere for cash. If you cannot afford to pay $200 cash for a car, you certainly cannot afford to pay $200 a month as a payment on one! Buy a $100 car, and drive it for 4 months while making "pretend " monthly payments of $100/ month into an interest-bearing savings account. After 4 months, sell it for $50, add the $50 to the $300 you'll have in savings, and drive the new car for a year, all the while making $100/ month payments to the savings account. Sell the car for $200, add it to the $1,200 in the bank, and buy a $1,400 car with cash....and so on. Idiots pay interest, smart folks earn interest...