We all know that the financial and credit landscape has changed dramatically over the past few years.  This is true in the auto industry as well as for people who have filed personal bankruptcy.  With our consulting services, we work with people from all walks of life who have experienced many different situations with their credit.  And the one thing that is consistently true is that These Are Not Usual Times.   Many things that were true in the past regarding consumer credit have changed, and are still doing so.

One of the big changes is the ability to get a car financed after a recent bankruptcy.   There were always some challenges, including higher interest rates.  However, according to Stephen Snyder, from Life After Bankruptcy, it just got harder.  This is because Ford Credit went from many regional offices in the U.S. to just three nationwide.  According to Mr. Snyder, this eliminates the possibility of building a relationship with a local dealer.  Traditionally, one of the best ways for bankrupt people to get auto loans was to find a finance manager who had a good relationship with their local Ford Credit rep.  Now, the choices just got narrower.    He does say that Ford Credit will take recent bankrupt buyers after the BK discharge with 6 months of good car credit payment history.  He is in the process of updating his book on this subject.

So, if you have had a BK in the past few years, be sure to check your credit reports to determine that all accounts are reporting accurately.  Then, develop a credit building plan to build back your credit rating so that when the required amount of time since BK discharge has passed, you are in a position to have some opetions for your financial and credit goals.  Our Credit Check-Up is only $100 and is a great way to find out what you can do with what you have to build better credit.  Contact us today to get yours.

.