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Car Financing, Sedan
Jun 06, 2002 (11:51 am)
Hello all, I am about to file bankruptcy. Mitsubishi, Kia, toyota and Hyudai have told me that I can get approved as long as I have a 1000 to 2000 dollar downpayment and have a discharge letter. Is this true? They have told me this without looking at my credit. I have been at my job for over 4 years and have a good income. Can this happen or are they wasting my time. I am willing to pay a high interest rate if it will get me into the car.
#2 of 860 Let me get this straight...
Jun 06, 2002 (1:23 pm)
You're about to file BK and screw your creditors out of their money, and THEN you want to go buy a new car?
Is this some kind of sick joke? If you have the cash to buy a new car, pay it to the people you ALREADY owe instead of discharging your old debts and then going back in the hole again.
How about a little personal responsibility? Don't file BK, go for credit counseling and get the payment terms stretched out. Filing BK is just taking the coward's way out, except in extreme circumstances. This doesn't sound like one of them.
And if you don't have a car, but need one, how about getting a $2k car (your downpayment) instead of a new one?
Jun 06, 2002 (2:52 pm)
Thanks for your lovely comments....NEXT!
#4 of 860 Next up
Jun 06, 2002 (3:01 pm)
Hungry is dead right. Somebody needs to slap you upside the head. People who bag on their debts only drive up the cost of interest - heck the cost of everything - for those of us who manage to pay what we owe and buy what we can afford. If you have $2k to dump on a new car then you also have 2K to either pay your debts like a responsible adult or buy what you can afford, and only what you can afford.
Get a clue. The harm you are doing to yourself, your credit rating, your family (assuming any will associate with you) and the society as a whole is just not worth the fleeting pleasure of that new car smell in some econobox.
So, what'll be: you gonna do the right thing or continue to be a loser?
Jun 06, 2002 (3:02 pm)
Then tell me I'm wrong. I'll assume from your response that I'm dead on. People like you drive up interest rates for people like me.
You obviously didn't lose your job (you've had it for 4 years), so it seems to me like you just ran up more debt than you could handle and decided to take the easy way out instead of sacking up and paying for it. Sure, it would suck, but you spent the money in the first place.
Jun 06, 2002 (3:15 pm)
Hungrywhale and hicaira, there are MUCH more polite ways to express your opinions than your statements above. If you can't keep yourselves reeled in when you reply, then don't bother. Don't do it again - got it?
Mazdaprofour, I think you may be missing what the dealers have told you. They have told you they require a discharge letter first. This is the letter from the bankruptcy judge that certifies that your bankruptcy is finished, not beginning. If you are just now about to file bankruptcy, then you will not have a discharge letter to work with.
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Jun 06, 2002 (3:26 pm)
Sorry, but I can't stand people who run up thousands in CC debt, buy nice cars or whatever and then file BK because they don't wanna pay. He didn't lose his job (he's had it for 4 years), so why file BK? Sure, it could be due to a number of things, but from his response to me, I gather that it's not due to anything except his own lack of control when it comes to spending...
Jun 06, 2002 (3:29 pm)
I thought I DID reel it in! I mean, is there a nice way to say "deadbeat"?
Jun 06, 2002 (5:40 pm)
From the Member Agreement:
If you wish to take issue with the statements of other Town Hall members or Edmunds.com staff, please engage in healthy, mature debate and not immature behavior or name-calling.
That's the bottom line, guys.
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#10 of 860 RELAX!!!
Jun 06, 2002 (8:29 pm)
1.mazdaprofour WILL be punished for his lack of responsibility- He'll wind up behind the wheel of a Hyundai or Kia.
2. Can anyone explain just what was so wrong about the concept of debtors prison?