Whether you lost your job or just got in over your head, bankruptcies are there to help you get back on track, eliminating debt and letting you start over. You’ve got two options including Chapter 13 and 7. Each one has specifics and rules governing whether you are eligible or not. After filing, you may have all debts erased, or you may have to pay a few debts back with a monthly payment. Even so, you may still need a vehicle, and you may worry that car loans in Tulsa OK are out of your reach because of your bankruptcy. However, you can still find options that don’t require you to borrow from friends and family or use a cosigner.
What Bankruptcies Do To Your Credit Report
Most people shy away from bankruptcies and use them as a last resort because they remain on your credit report for up to 10 years, lowering your score. This means that you may have difficulty getting a loan or mortgage. Likewise, it can affect your ability to get a job, especially if you work in a high-end position. With all these worries, you may think that getting a vehicle is unattainable right now, but there is still hope.
How To Get What You Need
There are a few steps you can take to get car loans in Tulsa OK after a bankruptcy. If you truly don’t need one, it may be best to take public transportation or borrow a friend’s vehicle. However, most people still want the freedom of driving a vehicle of their own. You should start saving money for a down payment, which can lower the loan amount and interest rates. Likewise, you should consider used cars instead of brand new ones.
Bankruptcy car loans in Tulsa OK are a real possibility for many. Visit us today to find out how they can help you and don’t forget to follow us on Twitter.
