Are You Looking For Bankruptcy Auto Loans In Tampa?

October 27, 2017

Bankruptcy Auto Loans In Tampa

No matter what you try to do, there can come a time in your life when bankruptcy ends up being the only way to go forward from a financial standpoint. Everyone can fall into some sort of setback, but life moves on and you will need to find a way to get a loan for your next newer vehicle. If you are worried about getting a good deal on bankruptcy auto loans in Tampa, you should know that there are options out there for you and it is only a matter of finding the right lender to give you a chance.

Chapter 13 Financing

With a chapter 13, the debtor that has a steady income will generally be able to hold onto some of the property that they may otherwise lose when going through the bankruptcy process. The plan is put in place to pay the creditors either all of or a portion of the debt over an allotted time period. If this is the case, the debtor will usually need to get approval to take on any new debt, such as a car loan. Once approved, it is best to look for a good lender that will take applications from those who have gone through a bankruptcy.

Chapter 7 Financing

A bit different, chapter 7 is when all of the non-exempt assets of the debtor are sold and any proceeds are distributed to the creditors. This can take around 4 months or 120 days to complete until the time the case is closed and the debts are erased. Depending on the individual situation, it may be best to wait until the bankruptcy has been completely discharged before looking for a car loan.

The good news is that no matter what type of bankruptcy you have encountered, there are lenders out there that will work with you for a bankruptcy auto loan. As a matter of fact, it is completely possible for anyone to work on rebuilding their credit with their auto loan during a bankruptcy. However, there are some shoppers that like to wait a while to help build up their credit beforehand to put them in a better financial place.

No matter what you decide to do, you will find that the financial team at Drive Away Enterprises will always be available to offer sound advice and the best available options to get you behind the wheel of a newer vehicle when you need one. We not only have an amazing inventory of used vehicles on our lot, but we also offer incredible bankruptcy auto loans in Tampa that will allow you to break free from the burden of bankruptcy so that you can start building your credit back up.

Whenever you need help with bankruptcy auto loans in Tampa, you need to work with the best in the area. Call Drive Away Enterprises at (813)252-5533 so that we can help! We invite you to look at our inventory online and even use some of our handy financing tools to see what you may be approved for in advance.