Q: Can I pay my loan off sooner if I want?
A: Yes, all our loans have No prepayment penalties. You only pay interest for as long as you have the loan.

Q: What if I told my attorney I wanted to keep my car and it wasn’t included in my bankruptcy?
A: By law all your debts were listed in your bankruptcy petition, whether or not you decide to keep your car is another issue.

Q: If I still have my car and I am making the payments, is it helping my credit?
A: No, you are basically renting your car, the lender can’t call you, or send you statements anymore because it was included in your bankruptcy. This does not report to the credit bureaus anymore.

Q: What if I reaffirmed my loan because I was afraid I wouldn’t be able to get another?
A: You have 60 days after your discharge to back out of the agreement, this allows you to correct a potentially bad decision.

Q: Why wouldn’t I want to reaffirm by autoloan, my interest rate is 0%?
A: The only thing that is important, is the amount of money you owe on your vehicle, compared to what it is worth in today’s market. You don’t want to carry excess debt through your bankruptcy.

Q: My Wife and I each have an auto loan can I get 2 new cars after my bankruptcy?
A: Yes, actually it is better to get both loans at the same time, instead of getting one and then trying to get a second later on.

Q: My credit score now is so low, how am I going to get a lower payment then I had before my bankruptcy?
A: Because you will not have to bury any negative equity in your new purchase, the enemy is not the interest rate, but the amount of money you are financing.

Q: How soon after filing can I get a new auto loan?
A: In most cases, you can obtain a new auto loan 1 week after filing.