get approved

Buy the car you deserve now!

We start working on your approval immediately!

  • Get Approved Now!

More and more people with open Chapter 13 Bankruptcies are asking for our help getting an auto loan. I-5 Auto Credit has developed a way to streamline the process for our customers. At the bottom of this page, there will be two links to documents that you can choose from to send your trustee and attorney, but first let’s go over the Chapter 13 Auto Loan process with you.

A Chapter 13 Bankruptcy is a repayment plan where the person(s) filing bankruptcy enter a 36 to 60-month repayment term. The debtor(s) may pay 100% of the debt, but usually it is much less. The debt that the debtor does not pay back is discharged upon completion of the plan. Usually people who file a Chapter 13 instead of Chapter 7 earn too much money to file a Chapter 7, are trying to keep a home, or have already filed a Chapter 7 and are not eligible to file again at the time of the Chapter 13 filing.

While the debtor is in the repayment plan, they are not allowed to get any new debt without the Trustee or Bankruptcy Judge’s permission. Permission to obtain debt outside of the Chapter 13 Bankruptcy plan is called different things depending on the court and state. Sometimes the debtor will need to file for a Motion to Incur Debt and appear before the judge. Sometimes a debtors attorney will be able to simply email the trustee a form requesting permission for an auto loan and the trustee will quickly send the approval back.

follow 224 Auto on Facebook
follow 224 Auto on YouTube
follow 224 Auto on Google Plus
follow 224 Auto on Pintrest
Call us